For the first time in a fortnight, bitcoin has managed to creep above the $4,000-margin. As of writing, the king of all cryptos is traded at $4,031 and is showing a 7.25% growth, as per coinmarketcap.com data. The highest on December 20 was the peak of $4,191.
The last time before the slight surge bitcoin was $4,000 on December 4. The coin lost 80% of its value since last year’s $19,400 record. There were ups and downs throughout 2018, but the bitcoiners’ nightmare started in mid-November when bitcoin dropped below relatively comfortable $6,000. It had barely rebounded since then, up until the first anniversary since its record.
Investment Opportunity or Lost Hope?
As CNBC reports, Charles Hayter, the top exec of CryptoCompare, said the recent dip of bitcoin was a «buying opportunity.»
Notably, he is not the only expert who holds such an opinion. Earlier Spencer Bogart, Blockchain Capital Partner, called the fall a «fantastic buying opportunity» after Weiss Rating referred to the time when bitcoin was below $4,000 as to the best time to pile in BTC.
Ex-Goldman Sachs partner Mike Novogratz opined bitcoin was unlikely to fall «too much» again. However, some people see no hope in the coin. Erik Finman, a teen crypto-millionaire has recently claimed bitcoin is «dead» in a long-run. Meantime, Harvard professor of economics Keneth Rogoff said that in the future bitcoin is more likely to be worth $100 than $100,000. He also labelled it a «lottery ticket.»
Will bitcoin fully recover or not, the time will tell but what is clear right now is that bitcoin will never make us bored.