Of course it will (in my opinion)! History has a funny way of repeating itself. Plus greed never fails. Eventually a big fat whale will want to take a big profit and voila! The price of Bitcoin takes a drastic drop, causing panic in the market place.
Usually the price drop is quick and swift. Then rising up several thousand dollars and making it’s way back up to the magical psychological number of 10,000.00 dollars over time.
How do we catch this drop and ride the big gain back up? Well if you have money just sitting around. You could put a limit buy order in and hope you get lucky. But that could be months or years to happen. So I guess we just hope that we are looking at the computer at the right time and pounce on the correction.
In the wild world of cryptocurrency we really don’t know what the future holds. Could China take control of Bitcoin with a 51% attack? Well, since the miners in China control 66% of the Bitcoin hashrate it is surely possible.
Even though Bitcoin has been around close to 12 years. The technology is still in the early stages of growth. Buyer beware!
That’s why diversification matters in investing. Never have all your eggs in one basket.