Quote:
Originally Posted by NewsPressed
Bitcoin crashes to almost $20,000 in crypto meltdown: Investors are left nursing heavy losses as panic tears through 'wild west' market
On a day of carnage for the industry, bitcoin crashed 20 per cent towards $23,000, its lowest level for 18 months. Ethereum fell 30%.
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If anyone is panicking, it's the speculators, who have used high leverage in an attempt to profit in the short term.
True Bitcoiners are not concerned, as they believe in Bitcoin and see further adoption ahead.
It is also worth remembering that Bitcoin was never intended as a speculative investment. That said, the recent fall should also be put in perspective in terms of the long term performance, which has been phenomenal.