The large crowd that used to gather at the Bitcoin Center in lower Manhattan, New York has melted away over the past two months, but those who remain have pledged to hang on and ride out the volatility in cryptocurrency markets.
“Bitcoin Center NYC is the only place in the U.S. dedicated to promoting Bitcoin, educating the public, and hosting the local Bitcoin community,” its website proclaims. “In other words, we are THE place for Bitcoin! The Bitcoin Center is open seven days a week to shed light on the world of Bitcoin to whoever walks through our doors! Our staff can provide an overview of Bitcoin on the spot or register guests for our comprehensive Bitcoin courses, offering everything from a basic ‘101’ to expert level topics all taught by our enthusiastic Bitcoin/Blockchain expert.”
The center was launched in December 2013 to provide Bitcoin enthusiasts a venue where they can discuss the original cryptocurrency and learn everything about it. Since its opening, the center has been frequented mostly by young technology and financial geeks, predominantly male.
Nick Spanos, founder of the educational hub, stated:
"Two months ago we couldn't breathe here. People outside couldn't get inside."
Despite the price swings of Bitcoin and other digital currencies, hardcore enthusiasts are not ready to give up on Bitcoin.
One member of the center was quoted as saying:
"It's probably a good thing that prices have fallen; we had gone up too fast. People who knew absolutely nothing came to us by saying they would withdraw all their savings to put them in virtual currencies!"
Indeed, those who have been watching the cryptocurrency space have already accepted that the industry is so volatile and speculative that price swings are normal.
Early this week, Bitcoin has been showing some signs of recovery, sparking optimism among investors that the worst is over for the digital currency space.
However, just when everybody thought Bitcoin was recovering, a mysterious investor began selling the cryptocurrency on a large scale and the price dropped to $7,931.35. Market players were baffled as to why 6,000 units of Bitcoin were liquidated at around $8,026.
This article appeared first on Cryptovest
