You hear it wherever you go:

“Bitcoin is dead”

“Cryptocurrency is a fad”

Don’t listen to the haters and naysayers. Cryptocurrency is alive and well. It isn’t going anywhere. Every market has bull and bear periods. It is only natural and extremely healthy for the market to correct itself after a massive bull run. Welcome to the current state of crypto circa August 2018.

Is Bitcoin decline – or on the rise?

Let’s Put Things Into Perspective

Bitcoin is down is 65% from all-time highs! The cryptocurrency industry is in a death spiral.

Not so fast.

We just need to consider the behavioral aspect of investors and also have the patience and foresight to take advantage of the underlying impact it will eventually have worldwide. The cryptocurrency industry is still poised for massive growth. 

Underlying Need

Most importantly the underlying need for cryptocurrency has remained unchanged. I’ll save you the grief of listening to a history lesson on poor monetary policy caused the collapse of the Roman empire or how media censorship has plagued nations for centuries.

Financially, the need for a decentralized store of value outside the control of the government and central banks has proved itself financial crisis after financial crisis. Billions of people throughout the world remain unbanked due to lack of access to traditional banks.  

Cryptocurrency has the power to address and fix the failures of the world’s current financial system.  

Socially, cryptocurrency and blockchain technology offers novel solutions to many of the world problems. From immutable records that can be used for elections to decentralized applications that cannot be blocked by any third party, crypto has the ability to improve and connect the world in a similar way the internet initially did. 

Prices

For those not in cryptocurrency for the technology, this is not the first time the cryptocurrency market has gone through a gruesome bear market. Bitcoin went through a similar down market for all of 2014.