Topic: This is not the end of bitcoin - page 20. (Read 3036 times)
The final cause and also the most obvious cause but Bitcoin price dropped the most, this is the psychological sell off from investors. Young trader and inexperienced trader easily fall into panic when the market shows signs of decline, followed by a wave of selling off and the situation becomes worse.
Recently, I have been seeing a small spike in the number of posts about bitcoin prices. Most of them seem to be out of fear bitcoins end.
But I think bitcoin will survive. Here is why I think so.
First let's take a quick look at the price charts.
Now the prices for BTC is depicted for a day. Seems like BTC is falling fast right?
Now let's look at another image.
Now this is the price chart of BTC for a month. Doesn't look that great does it. I mean the prices were volatile and seem to now be falling.
Lets take a look a the last image.
In this image can you spot the fall that easily?
Not really. It does look highly volatile. But then the prices seems to be stabilizing. The spikes seem to be reducing and there seems to be consistency.
The thing is we have looked at bitcoin up close and that's why we say things like:
Bitcoin prices are falling
Bitcoin down by 20%
Is this the end for Bitcoin
But when we start looking at the bigger picture. We can see that bitcoin has come a long way and the price chart if seen up close might show a trend towards the end. But sometimes the bigger picture needs to be seen. Don't panic bitcoin still has a lot left. It will keep fighting.
If not the price chart. Think about the fact that countries like the US and India have noticed bitcoin and other cryptocurrencies and have planned to provide a verdict. I will admit that it has been delayed but the mere fact that the SEC in the US and the Supreme court in India are providing a verdict means bitcoin might just be a step closer to becoming a global currency.
At least it keeps the Hope alive.
This is just my opinion. I would really like to know about yours.
If I am wrong please prove it to me.
I am always happy to learn more.
Picture source: https://coinmarketcap.com/currencies/bitcoin/
But I think bitcoin will survive. Here is why I think so.
First let's take a quick look at the price charts.
Now the prices for BTC is depicted for a day. Seems like BTC is falling fast right?
Now let's look at another image.
Now this is the price chart of BTC for a month. Doesn't look that great does it. I mean the prices were volatile and seem to now be falling.
Lets take a look a the last image.
In this image can you spot the fall that easily?
Not really. It does look highly volatile. But then the prices seems to be stabilizing. The spikes seem to be reducing and there seems to be consistency.
The thing is we have looked at bitcoin up close and that's why we say things like:
Bitcoin prices are falling
Bitcoin down by 20%
Is this the end for Bitcoin
But when we start looking at the bigger picture. We can see that bitcoin has come a long way and the price chart if seen up close might show a trend towards the end. But sometimes the bigger picture needs to be seen. Don't panic bitcoin still has a lot left. It will keep fighting.
If not the price chart. Think about the fact that countries like the US and India have noticed bitcoin and other cryptocurrencies and have planned to provide a verdict. I will admit that it has been delayed but the mere fact that the SEC in the US and the Supreme court in India are providing a verdict means bitcoin might just be a step closer to becoming a global currency.
At least it keeps the Hope alive.
This is just my opinion. I would really like to know about yours.
If I am wrong please prove it to me.
I am always happy to learn more.
Picture source: https://coinmarketcap.com/currencies/bitcoin/
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