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Bitcoin Prices Stabilizing After Dramatic Fall?


Bitcoin investors are anticipating to get up on both feet and make profit after Bitcoin which saw a dramatic fall over the past 6 months, is now slowly stabilizing.

Prices for digital assets like Bitcoin fell significantly in recent weeks, but have shown signs of stabilization more recently.

Bitcoin has fallen nearly 60% over the past six months, but is up about 1% over the last week, according to FactSet.

Chairman of the United States Security and Exchange Commission, Gary Gensler labelled Bitcoin as a commodity and the reason why it is under their jurisdiction like any other financial assets.

"Many of these financial assets, crypto financial assets have the key attributes of a security, and are therefore under the SEC’s jurisdiction," he said.

Cryptocurrency gurus predict that seeing Bitcoin being sold at $1 million is inevitable and as things stand, it seems that in future, bitcoin will become better than gold.

In a world were inflation keep on hitting several economies and people losing their savings through banks, cryptocurrency investors opine that Bitcoin will create opportunities and good times as it is really a good coin.

"Good times create central banks. Central banks create weak money. Weak money creates hard times. Hard times Bitcoin. Bitcoin creates good times," they said.

Another cryptocurrency investor, and entrepreneur, Robert Kiyosaki says investors must learn that quitting when things get tough is not the option. He says it's only losers who quit when they cannot take the heat anymore.

He emphasized that most of those who do not quit usually end up buying shares of those who quit.

"Rich Dad lesson: Losers quit when they lose. Bitcoin losers are quitting, some committing suicide. Winners learn from their loses. I am waiting for Bitcoin to test $1100. If it recovers I will buy more. If it does not I will wait for losers to capitulate quit then buy more," he said.

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