There has been a lot of question and worry about the volatility in bitcoins price. CEO Elon Musk decided to make the move not to accept bitcoin for tesla's anymore. Based on that statement Elon made caused panic that perhaps made bitcoin price dropped.
But Elon ALSO stated he will not be selling any bitcoin Why you might ask? he knows that Bitcoin's price is under value by a lot. The statement he made works in his favor to buy more Bitcoin while the price is down. cited reason was that mining bitcoin is too hard on the environment; he said Tesla would not accept it for EV purchases until the production of the coin becomes more environmentally friendly.
A feeble attempt at bitcoin many will take advantage of. But don't believe or give in to what peoples opinions are of cryptocurrency and Bitcoin. Not many base statistics and facts when it comes to Cryptocurrency,
Here is why Bitcoin will prevail and skyrocket in price:
- The Era of Physical currency is coming to a end. And we are barely at the beginning.
- It is the Wild West times with digital currency. Once more regulations are brought on the price will jump a substantial amount
- People like Elon Musk are attempting to make moves to target the price of Bitcoin only to use to their advantage.
- Cryptocurrency mining will be highly regulated in the future and Only banks and Investors with a License will be able to mine legally
- Each day the USD becomes more unstable. the day we make the move to digital the day prices drastically go up.
So those worried about the price of bitcoin shouldn't. Bitcoin has proven throughout time It will always rise up stronger then before.
