Exactly one year ago bitcoin (BTC) hit its all-time high of $20.000. Today BTC saw a small price rally, and increased its value with ten percent. Bitcoin is now worth $3550. Despite this tremendous drop in value, there’s still positivism out there. This could be a great moment to step into the crypto sphere and start earning bitcoin, according to a venture capital firm.
According to Spencer Bogart from venture capital firm Blockchain Capital today’s bearish market is ‘a fantastic buying opportunity’. He made these remarks in an interview with CNBC. He also said that BTC could drop more in price, even to $1000. But he believes in the market, adding: “When we look back 24 or even 12 months from now, we’re going to say, ‘why didn’t I buy then?’”
Even though one bitcoin is now worth a lot less in dollars, the coin actually gained a lot of value. There are many new developments that make bitcoin more interesting nowadays, compared with one year before. Its Lightning Network makes very low fee transactions possible, even opening up the possibility to buy coffee or a can of Coca Cola, more established enterprises offer investing opportunities into bitcoin or other cryptocurrencies, and despite everything it’s still the number one cryptocurrency in the world.