#Cryptos’ young investors hold firm after the rollercoaster ride

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Cryptos’ young investors hold firm after the rollercoaster ride

People who really believe in the volatile BitIQ are the only ones left at the Bitcoin Center now that the crowds have gone down a lot.

Nick Spanos, who started the financial and educational center in lower Manhattan, said that two months ago, there were so many people there that “we couldn’t breathe here.”People outside couldn’t get inside.”

The center says it has everything you need to know about bitcoin in one place, even though it just opened in December 2013. Even though it wants to reach a much bigger audience, most of the people who use it work in technology or finance. Most of them are young men.

The Bitcoin Center’s website says, “The Bitcoin Center is open seven days a week to help anyone who walks through our doors understand the world of bitcoin!”

Afew days before there were about 100 people in the parlor of a Ukrainian restaurant. They used apps on their phones to trade bitcoins, ate free snacks, and listened to Spanos talk about changes in the industry.If you are a beginner, engage in Bitcoin trading.

Even though the cryptocurrency has been through a lot, he made fun of journalists who have said bad things about it. But Spanos saved his most harsh words for Jamie Dimon, the CEO of JPMorgan Chase. Spanos used to work for Ron Paul, who ran for president as both a Libertarian and a Republican.

Dimon said it was “stupid” to put money into bitcoin, which he called a “scam.” Spanos, on the other hand, said bad things about Jamie Dimon.

The crowd started to boo when Dimon’s name was said. Bloomberg says that the price of bitcoin dropped from about $20,000 in the middle of December to $7,895 on Tuesday. Bitcoinity.org says that between mid-December and the beginning of April, the number of deals has dropped by about half.

Now, about one-fifth as many people look for bitcoin each week as did in December, when it first started trading on major exchanges. This is more evidence that fewer and fewer people care about bitcoin.

The price drop is a direct result of the government having more and more doubts about digital money. Zalman, who is now 24 years old, bought his first bitcoin a long time ago before the price went up.

The man said, “It’s hard to wake up in the morning and find that we’ve lost thousands of dollars while we were asleep.” Daniel said that he started buying digital money about eight years ago when each unit cost less than one dollar.

He said that the bubble of 2013 gives him “more reason to stay where he is.” When the price of bitcoin hit an all-time high of $1,137 in November of that year, it dropped by about half in a week.

When the price of bitcoin dropped recently, some people saw it as a chance to make money.

“It’s probably good that prices have gone down because we were going up too fast,” a Bitcoin Center employee who asked not to be named was quoted as saying.

People who didn’t know anything about it said they were going to take all of their money out of the bank and invest it in virtual currency. People who have been watching the bitcoin market longer have learned how to ride out the waves of volatility.

No one lost money in the community as a whole, not even investors who put money in as recently as May of last year. In his disclaimer, Spanos said that Bitcoin is not a way to “get rich quick.” The goal is to keep your bet and, in the long run, become self-sufficient.

by Dean Miller

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