With $70 Billion Off The Table & Bottom Still Not In Sight, Crypto Enthusiasts Ask Investors To Stay Calm

With a whopping $70 billion gone off the table which resulted in a 33% slump in total market capitalization, confidence is crypto markets is super low as everyone is trying to find a bottom. While investors and traders are dumping coins and token across the board, crypto enthusiasts and propagators are asking investors to stay in the game as the long-term outlook still stays positive.

Long-term play is still pretty healthy for cryptocurrencies- say crypto experts  

Its been over a week now that Bitcoin and other cryptocurrencies broke their multi-month stability and nosedived over 33 % to bring the bears in command. This downpour has also shattered the confidence of many investors and traders who were expecting markets to spike up after a slow year.

But crypto enthusiasts, propagators and the ones who have skin in crypto business are still pretty bullish and are asking investors to have patience as the future of blockchain and cryptocurrencies has just begun to unfold.

Bobby Lee, Co-founder of BTCChina & YourBTCC, Creator of BTCC Mobi and Board Member at the BTC Foundation; tweeted comparing Bitcoin to Gold. According to him Bitcoin has a lot of potential and believes in the long term, Bitcoin will be worth more than Gold.

Joseph Young also echoed the same similar sentiment and said even after the downfall, people who invested in Bitcoin in Q1 of 2017 is still up 2X to 4X. He ended his tweet by saying Patience is key in investing in any emerging asset class

Joseph tweet was a reply to Mike Dudas, who is a founder and CEO at the Block and is one of the early investors in Bitcoin. Dudas had tweeted that despite the drop-in prices his investment was still up by 40 x. Dudas also added that he is still confident on Bitcoin believes it is a wonderful invention that brings together technology and money

Chris Burnskie, the famous author of the book titled “Cryptoassets: The Innovative Investor’s Guide to Bitcoin and Beyond” also gave his view on the bear market. He tweeted that “Bear markets strengthen the survivors. It’s okay to feel sick through the process, it’s these depths that later give strength.

With so much of development happening on the ground and the way Bitcoin and other cryptos are progressing, this meltdown looks temporary in nature and definitely investors will see a bounce back- at least this what these crypto stalwarts believe.

What is your view on the future of cryptocurrencies and blockchain? Do let us know your views on the same.

The post With $70 Billion Off The Table & Bottom Still Not In Sight, Crypto Enthusiasts Ask Investors To Stay Calm appeared first on Coingape.