When you think its over and all is lost. We have bottomed.
I remember watching CNBC when the S&P was at 666 and it felt like the world was ending and nothing could turn it around. That was actually the best point to invest in a lifetime.
Bitcoin will have its day and it will be glorious.
Ignorance is bliss. The S&P depends on US economy - large scale businesses.
Bitcoin is 100% speculation.There is the difference. Not only - the more it gets integrated as a payment method, the more merchants would benefit from lower values. When prices boomed it was because Chinese speculants drove it way over the line of resistence and market was severely overbought.
Bitcoin is based on Bitcoin economy. There are companies that deal with bitcoin on a regular basis.
Though, most short term trends are due to news and speculation, it need not be so in the long-term.
100% is NOT speculation.
S&P companies have MA (Material Assets) worth Billions including buildings, machines, vehicles, planes, power-plants etc. They have huge personnel of people creating wealth.
It's an indice created by the largest companies in the US. They are backed up by banks, USD as a currency and a huge community with 300+ million people, who makes sure of the currency's liquidity, which secures bank liquidity, which secures the market as a whole.
Bitcoin is invented by an unknown soft dev and businesses accept bitcoin as long as it can be traded for USD and other regular currencies. If exchanges stop their business through fiat currencies, there is no way to calculate a price for it anymore.
) This is what will grow bitcoin; new services that are only now possible thanks to Bitcoin.
