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RE: Why I'm Negative on Bitcoin

in #bitcoin6 years ago

Well though and clear structured video, which I do agree the most. Did not know the video link of Andreas Antonopoulos, which was just amazing in front the Canadian Senate.
Bitcoin is in the current state pure speculative, you can make a lot of money and this will for sure blind you to put even more money in. Once the price stays at a certain level and the volatility reduces itself, the mainstream market will join it and this will even attract more people to use it.
I really don't think that we are in a bubble, so speaking that the price could drop back to 2k USD for BTC. But corrections of daily 10-20% will be natural and expected by all current participants in the Bitcoin market. Every 10% is a great chance to rebuy, every 10% higher price a great chance to sell partly. That's in the nature of a non regulated market, like we maybe did not seen for a very long time in the past. That's why this is so spectacular. The usage of Bitcoins or any other currency will be developed in the next few years...

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There has been enough times that Bitcoin has crashed over 80% in the few years of its existence that I am less certain that we aren't in a bubble (well actually I'm quite certain and I'll be doing a rather in-depth article that attempts to 'prove' it as if we are in a court of law soon).