The current price of bitcoin is still far higher than it was 8 months ago - I have no idea why people are so pessimistic about it.
Do you honestly think that Bitcoin will reach new ATH, and from that point, it will only grow higher and higher? What kind of faulty logic is that?
We should be really happy that governments are not shutting down bitcoin with all its might - and trust me - they could do it with ease.
Either by take a swing at bitcoin mining farms and hardware or regulate every bitcoin satellite services: exchanges, merchants etc.
absolutely true what you said!
I think that one of The biggest issues is that BITCOIN has been very often tagged with Crimes.
For instance if you trust the financial system to store your funds, or Dropbox to store your files, or YouTube to host your videos, then you don’t need to use less efficient decentralised versions of those services. While if you are planning to commit for crime, a decentralised version of those services becomes much more appealing.
That’s why bitcoin, for instance, has become the currency of choice for online drug dealers and cybercriminals demanding ransoms to restore hacked data.
And when I say Crimes, it's important to note that “Crime” is a broad term, though. In many countries, having a political opinion contrary to that of the ruling regime is considered broadly criminal; many more limit the freedom of their citizens in ways that citizens of liberal democracies might view as unethical and inhumane. If cryptocurrencies allow those limitations to be overcome, it may technically be promoting crime, but not in the way most cryptocurrency critics mean.
Also investing in cryptocurrency or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment (only invest what you can afford to loose).
Thus almost anything connected with the future of Bitcoin is speculative right now.
For sure it will be interesting in 10 years to look back on the discussions we are having today about Bitcoin. By that time, cryptocurrency might be a normal part of everyone’s life, or it could be a once trendy thing that everyone has forgotten about (I hope
).
Oh yea. I remembered around July when we were trying to even hit new level of ATH at around $5k I think and everyone was getting amused until the FOMO got so huge and we started seeing panic buying (that is what I call FOMO anyway). The thing is the market is still doing very good and if there is one thing I see here, it is the fact that we are in a very good market with a lot of prospect and that is what is important.