"be fearful when others are greedy and greedy when others are fearful" - Warren Buffett
Bitcoin might go down in the short run because of China, but in the long term Bitcoin and other cryptocurrencies will stable and go up again.
They question you need to ask yourself is - Do you believe that Bitcoin has the potential to create an economic revolution, by taking the power from the governments/banks and putting it back in the hands of the people?
In my opinion this is bigger than one nation and China is just panicking a little bit. They will understand eventually that it’s better to be a part of the game of the new economy than outside of it. This is why they are not banning the mining. Soon they will let the exchanges reopen.
This is my view, but you need to remember that it’s not going to be an easy ride.
To read the full article on this topic check Bitcoin Price is taking a 30% dive, I wouldn’t be worried for the long run
If you decide to buy, check this before to find the right Exchange - Bitcoin exchange reviews - where to buy and trade cryptocurrency
Even if bitcoin drops by 60% it won't die. The underlying concept and technology are sound. It's not about the price.
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