People are abandoning their positions as cryptocurrency faces big value pressures. But those self same persons are being suggested to carry on…
With the worth of Bitcoin threatening to finish November at almost half the worth it held at first of the month, a rising variety of buyers are seemingly chopping their losses and promoting their positions. This, in flip, is hardly serving to the worth of Bitcoin, that continues to search out itself underneath vital strain.
We’ve already heard some established voices within the crypto house doubling down on their message of maintain your nerve and HODL, however that doesn’t appear to have slowed issues down a lot in any respect. Now, although, comes a contemporary warning that promoting Bitcoin now could be, effectively, flat-out daft.
Phillip Nunn is the CEO of Wealth Chain Group and The Blackmore Group, and he’s a crypto investor who very a lot takes the long run view of issues. And he’s insistent that 2019 guarantees higher occasions for the cryptocurrency house.
On his Twitter feed, he urged his followers that “2019 is going to be amazing and exciting for #Blockchain and #Cryptocurrency”. He argues that folks have to look past the straightforward costs, and give attention to market fundamentals. Furthermore, that his personal perception in cryptocurrency hasn’t wavered at all around the previous few months.
I for one don’t care in regards to the markets, I consider on this motion greater than something earlier than.
— Phillip Nunn 🚀 (@PhillipNunnUK) November 25, 2018
He additionally queried simply who would sell their Bitcoin within the present market situations, though expressed gratitude to those that do, for his or her work in driving the worth of the forex down! He argues that Bitcoin may even hit $50,000 within the subsequent three years.
The market just isn’t wanting predictions in the intervening time, and that is clearly one other one to chalk as much as the listing. But there’s a point of logic to what Nunn is saying…