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It sucks.

It really does.

Bitcoin's price has corrected by more than 53% from October's massive bull run.

Now, some people are saying that Bitcoin's bear movement will end with bitcoin's price consolidating at $5000.

That's bad news for hodlers.

Or is it?

You see, short term trends don't usually affect long term investors.

Because they've studied the fundamentals, and they know that those changes are short term.

Bitcoin is destined to perform well in the coming years.

So here are 3 reasons why the recent bear moves shouldn't scare you.

1. Bitcoin is limited in number

I've mentioned this in many of my previous posts.

There will only ever be 21 million bitcoin created. Ever.

With some of these completely lost by people who lost their trezors or paper wallets, and a lot of it being hodled, it's demand and therefore price would rise in the subsequent years.

But it's supply won't.

Making it very valuable.

Because what is limited is valuable. Just look at gold.

2. Bitcoin is seen as a hedge against unfavorable classical market conditions

If you were to make a trading account for your retirement today, say a 401k or similar, you won't be adding bitcoin to it. 

Why?

Because bitcoin isn't correlated with any classical commodities.

It isn't backed by anything. Not even by faith.

And that's what gives it an edge.

The decrease in cost of mining equipment would lead to a decrease in the price of gold, no matter how slight that decrease may be.

Because more gold would be mined for a lesser price.

That factor drops gold's value. At least it's short term value.

But bitcoin isn't pegged to any real commodity.

Sure, bitcoin has it's own mining equipment.

But a decrease in the prices of those would lead to more people mining, which would make transactions faster.

This may not raise bitcoin's prices but it's intrinsic value would go up. Way up.

This way bitcoin is seen as a hedge against unfavorable market conditions.

3. Bitcoin is the future

No matter how many ups and downs bitcoin has in the short term, you and I both know that bitcoin is the future.

Cryptocurrencies are being widely accepted everywhere.

The number of bitcoin ATMs is on a steady rise.

And even Africa is becoming one of crypto's most favourable markets.

All this put together makes bitcoin the smartest thing to hold on to for the long term.

Of course you should also add top performers like ether and ripple to your portfolio.

But bitcoin is king.

And the king will reign when his time comes.

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