BITCOIN: THE CAT WITH NINE (9) LIVES.

BITCOIN: THE CAT WITH NINE (9) LIVES.
With the recent downturn of the market, and what appear like a gloomy period for the entire crypto community, many nay-Sayers must have echoed ‘I told you, it is backed by thin air’ a thousand times. However, in a recent survey conducted by Luno.com through its twitter handle (@lunomoney), it revealed that majority will rather buy more (56%) while another 35% said they will hold and 10% said they will sell at press time. This is contrary to general believe that surrounds a ‘failing asset class’
Lovers and students of history will easily agree that history repeats itself. If we are to look historically back at bitcoin chart in 2016, we will agree that a similar trend took place before actualizing its’ all time high(ATH) for that bull run period. We know from history that bitcoin had ‘died’ and ‘resurrected’ several times, with each resurrection making it to garner more support, popularity and higher price. This in my own opinion makes bitcoin look more mysterious to staunch traditional investors, who are all ears to hear non-existence of it. In general crypto analyst are yet to fathom the root cause of the massive dump, however speculations hold that most people who bought in anticipation of Bakkt launch to pump price are the ones dumping. While others speculates that it it’s just one of those regular shake-up of weak hands. Whichever may hold the crypto community is already familiar with similar trend from bitcoin whales. I believe this price crash is an ample opportunity for lovers of crypto to stoop and scoop more.
Whatever may happen, with the level of adoption spreading like wildfire, bitcoin is not showing any sign of exhausting its ninth live until it become a global (reserve) currency.