Why is Bitcoin Underperforming?

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As Bitcoin dropped below $30,000/- for the first time in about 5 months, I think it's time that we address the elephant in the room. Since we are unable to understand the concept of cryptocurrencies as a whole we are losing the money. The loss is not a loss till you sell. You are affixing the loss by selling it at a lower rate than your highest earning.
Before we begin I think it is important to mention I am not a financial planner/advisor, so nothing in this article suggests any particular crypto.

WHY IS BITCOIN UNDERPERFORMING?

Since there is not much to presently do but to stare at our screen while our portfolios bleed and so does our soul, I felt like bringing before you a little bit of theoretical analysis on bitcoin performance.

Bitcoin has performed well everytime the traders have been able to hold onto its support line. The reason it is important for us to understand the concept of Bitcoin is that the buyers are the ones which make the coins a stronger asset the more they hold onto it the faster they would see the growth in the asset. 

It is simple demand and supply theory, where if there is high demand for limited products the prices would surge and if low, it would fall. So if people constantly sell the Bitcoins they own, they are simply increasing the number of unused Bitcoins. It's like the price of gold fell by $500 so I'll throw all my gold on the street. People who understand its value would simply waltz in and say "Thanks, I practically got it for free."

Thus we are even seeing the big players silently accumulating their holdings at the present cheaper rates. Stocks and other assets like cryptos would always have their bad days, that does not mean that they are valueless all of a sudden, so stop selling.

Take this time and research your cryptos and see whether their future prospect seems to be legit or is it just another meme. All legitimate cryptocurrencies have a white paper which is either available on Coin Market Cap website or you can simply look over the internet and search it out. 

We are the ones who can make the gains and losses by our simple choice of holding onto our coins. Who knows in about a month or so you might be able to see the Bulls rampage towards a breakout.

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