Bitcoin is here to Stay! The blood red sea of Bitcoin has turned into Green Bails of Cash for steady hands

Dear Steemit Friends,

It has been a very interesting week for Bitcoin and a vast majority of cryptocurrencies. Steem and SBD included. Over the past few days we have all seen a bloody sea of red as most currencies took a downward trajectory dropping in overall value like a bomb dropped on Christmas morning - Why? Because for some it was an opportunity for many to sell high and buy in.

I myself was also beginning to worry if this was the end, but thankfully a little rest and distraction took my mind off of it and give me some time to regain my confidence. Most people I assume sold out and took profits and waited for the right opportunity to by back in for the ride back.

In the case of Bitcoin, we all expected a correction to happen eventually. It just needed that extra little nudge to get it started and thanks to the Chinese government and their move to ban Bitcoin exchanges, we got just that. Enough to send the price of Bitcoin and all other currencies in spiraling tumble back to earth. The upward trend could not last forever.

As of this morning (September 15th in the US) The price for all currencies have begun to recover and the sea of Red has now turned into a sea of Green. Hopefully a sea of Green cash for most people who remain confident and unaffected by the recent news of China's ban and the regurgitated remarks of JP Morgan Chase's CEO that Bitcoin is a fraud.

I expect that we will see some upward momentum and maybe a slight pull back as exchanges in China begin to close/react to the directions put forth by the Chinese government, but overall I feel that this is an opportunity for more people to buy in as the price eventually recovers and heads towards it's next All Time High.

Now is an opportunity for everyone to buy in. Get your hands on some cheap Steem, SBD, Bitcoin, Litecoin, Ethereum, Dash, and any other currency you feel has potential. The Guardian said it best:

Bitcoin was devised in reaction to what happened in 2008 during the financial crisis: printing money, bailing out banks, suppressing rates. The idea was to create a system of money beyond the manipulative hands of government. Although JP Morgan was by no means the most leveraged of the banks, it still took bailout money, and, as its CEO, Dimon and bitcoin will inevitably be philosophically opposed. His utter faith in the US dollar sounds rather like the boss of a major record label talking up CDs a year before the iPod was brought to market. [Source]

What do you think? Where will Bitcoin and other cryptocurrencies end up? Please let me know what you think in the comments below. Please also Follow, Upvote, Comment, and Resteem if you enjoyed this post.

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