I agree that cryptocurrency is unpredictable now, but the truth is this market was always unpredictable, especially Bitcoin, don't you think?
As in Nov. BTC had reached its absolute minimum I would say that it won't rise again due to several important reasons: mining of this coins is to costy now, huge risk of hacking and very high volatility comparing to other coins. Those cryptos like Ether, Ripples, EOS are better coins in all charachteristics. Imo, I would invest into these coins now rather than Btc or lots of other altcoins.
Hi Katie, Fellow Wagner here. I have to disagree a bit with your comparison. The cost of mining a bitcoin is irrelevant. As the cost of mining increases with difficulty the price rises. If it becomes unprofitable, mining is scaled back and the difficulty drops until it is profitable. Because miners compete, the Tx cost always trends toward the lowest profitable amount.
Miners don't particularly like this, but it is not their network to own, it is ours to use. So many alt-coins attempt to solve the "problem". The problem is not having your money in their pocket. This is why all other coins basically follow bitcoin. I just don't buy the miners argument. When I started at this we could just mine up some coins on our laptops. When it went to dedicated gaming cards... bitcoin was said to be dead due to difficulty. The same thing happened when ASIC chips hit. It just does not make sense unless you consider the desires of miners to make ever more profit. But Bitcoin does not care for your desire. She is Queen of all because she works for no one segment of the economy. If you want a currency that works for others, just continue using dollars.
