Richard Heart was almost in tears about Bitcoin not doing well 2 years ago in an interview with Ivan on Tech
(Richard was a Bitcoin Maximalist and was an early BTC miner getting 50 BTC a block),
he makes some good points in the interview [sorry about the cursing and gestures]:
https://www.youtube.com/watch?v=w8_1JFE_9dI&t=4100I only recommend watching for maybe 15-20 minutes from the point I linked
That guy is raw and off the 'chain'. I wish we could convince him to receive the Holy Spirit so he didn't swear.
But anyway he appears to be very intelligent and his point of view is very unique. I give his opinion a lot of credibility.
I personally believe in Elliot Wave macrocycles. I feel that up til now, everyone has been very loyal bitcoin (they give the devs complete credit and loyalty since they were the first successful crypto - and thats honorable and good and surprising in an industry that has so many catastrophic problems) and the altcoins, got really trashed after that 2018 pump n dump. I think the altcoins got blindly bought buy every institution out there because they were too dumb to pick the good ones so they bought everything at the same time, hoping to hold the holy grail. Then after the crash the institutions were burnt so bad, they are looking at alt coins like hazardous waste (one reason we are so low right now ourselves).
But with waves, everything goes in cycles, meaning we will eventually see BTC crash (or halve) and no loyalty to the grandfather, and Altcoins be rewarded - but this time probably certain altcoins (as the burned institutions are going to do some homework). That will be our chance to shine. Also, if BTC goes down again it gives people a chance to reload on the failed altcoins. This brings up the bigger question though, will the industry strengthen when the real coins with real use cases do get rewarded?
I think Richard is right about the facebook/amazon case. They will make a coin and ruthlessly cut out bitcoin and steal the technology. And it will put a gaping hole in the market value of bitcoin unfortunately. Ive never told anyone to buy and hold a coin that is over $10k as I feel its risky. BBP might be cheap but it has the potential to go places due to the leverage.