People have been comparing bitcoin bubbles with dotcom bubble for about 8 years now. How about we call it what it is ? Crypto bubble ? It is something itself. It doesn't matter that it fell because even on dotcom bubbles burst we see that some of the bad ones fall apart however today we have biggest companies as tech companies, look at apple which was the first company to hit 1 trillion dollar valuation in history. Bubbles can be bad but it can be very helpful of dropping the dead weight of bad scam coins and keeping the good ones and making people invest only on those which will help us get them to higher prices a lot quickly because the focus is on less coins.
Topic: Is Bitcoin in a DotCom recovery phase? - page 3. (Read 467 times)
I told that bitcoin is not the bubble and get will rise from the Ashes like you have said, but for now we're having only suffering and we've been on the bitcoins grave. And who knows how long it will last.
From the article:
Now this is also something I'm curious about, I mean we did see an increase in volume on Turkish Bitcoin exchanges, but this hasn't resulted in the overall increase in price.
Quote
Despite bitcoin's aspiration to be a safe haven asset, the cryptcurrency has not seen a rally with the stumble of the Turkish lira.
Now this is also something I'm curious about, I mean we did see an increase in volume on Turkish Bitcoin exchanges, but this hasn't resulted in the overall increase in price.
I actually tried to get to the bottom of that here:
Quote
Koinim, Turkey’s largest exchange, has reported a 63% increase in Bitcoin trading volume, while the BTCTurk and Paribu exchanges have said their volumes are up 35% and 100% respectively, according to CoinMarketCap data.
If we do the math, we end up with:
Koinim: $144,577.3
BtcTurk: $1,679,437.03
Paribu: $3,343,241.5
Those were the (very) rough starting numbers before the reported growth, which led to these numbers from a few days ago:
For some perspective, here are the listed exchanges' Bitcoin 24h trading volumes as of this moment according to Coinmarketcap:
Koinim: $235,661
BtcTurk: $3,367,240
Paribu: $6,686,483
Koinim: $235,661
BtcTurk: $3,367,240
Paribu: $6,686,483
There may be other Turkish exchanges, but I just assumed that the article in the thread quoted listed the most relevant ones. Their starting volumes are pretty low, so even significant changes in percentage points still result in low numbers. It's great that some Turkish citizens are finding solace in Bitcoin, but it's not like everyone started buying up as some articles may want you to believe. It's definitely not enough to raise global prices by a substantial amount.
From the article:
We can't speak for every altcoin, but I do think that a large portion of them will disappear, just because it will become more and more obvious that they aren't solutions to real world problems.
How many coins and ICOs are there that claim they will revolutionize X type of industry, while in most of the cases those industries do not even benefit from having a blockchain-type solution.
There are a lot of investments going into projects that do not have the slightest chance at success. The sooner people get their money out of those coins/tokens, the less diluted the market will become.
Crypto investors seem to be very opportunistic, investing millions in projects that look good on paper perhaps, but in reality have very questionable goals.
Will Alt coins suffer the same fate and will Bitcoin rose out of the ashes like these bigger companies, that ended up being bigger and stronger than what they were, before the DotCom bubble burst?
We can't speak for every altcoin, but I do think that a large portion of them will disappear, just because it will become more and more obvious that they aren't solutions to real world problems.
How many coins and ICOs are there that claim they will revolutionize X type of industry, while in most of the cases those industries do not even benefit from having a blockchain-type solution.
There are a lot of investments going into projects that do not have the slightest chance at success. The sooner people get their money out of those coins/tokens, the less diluted the market will become.
Crypto investors seem to be very opportunistic, investing millions in projects that look good on paper perhaps, but in reality have very questionable goals.
Will Alt coins suffer the same fate
my answer is yes, because the average altcoin price uses bitcoin as the main money, so if the price of bitcoin falls then the price of altcoin will drop.will Bitcoin rose out of the ashes like these bigger companies
yeah, I believe the price of bitcoin will recover, I will keep save bitcoin because I believe the price of bitcoin can soar in the future
otcom is seen by economists as a major financial failure. The downturns of dotcoms are only a small part of the overall Internet economy, as bitcoin is the current investment trend of the market.
Credit goes to source : https://www.cnbc.com/2018/08/14/crypto-advocate-bitcoins-narrative-problem-is-spooking-investors.html
The Altcoin market is currently a war zone and it looks like a small Dotcom bubble have burst.
I compare Bitcoin to the bigger Microsoft/Dell/Yahoo companies, during the DotCom bubble and the Alt coins to the gazillion of tech companies that went bankrupt.
Will Alt coins suffer the same fate and will Bitcoin rose out of the ashes like these bigger companies, that ended up being bigger and stronger than what they were, before the DotCom bubble burst?
What do you think?
The Altcoin market is currently a war zone and it looks like a small Dotcom bubble have burst.
I compare Bitcoin to the bigger Microsoft/Dell/Yahoo companies, during the DotCom bubble and the Alt coins to the gazillion of tech companies that went bankrupt.
Will Alt coins suffer the same fate and will Bitcoin rose out of the ashes like these bigger companies, that ended up being bigger and stronger than what they were, before the DotCom bubble burst?
What do you think?
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