the market is bleeding out cash slowly but surely .
everyone is hoping for a new late november pump but im afraid this year bitcoin is going to get dumped and dumped again.
btc will be dumped to 200 $ or even less by the end of the year.
waiting for the final capitulation of BTC and rise of a new coin.
Me too
But it was fun
Price has nothing to do with Bitcoin development. Bitcoin development is leaving jurisdictions where progress is oppressed.
Trading cycles have more to do with price. Sure, there were shenanigans teasing the market, but the market isn't that stupid. If government bureaucrats had not been manipulating sentiment, there wouldn't have been such a panic sell-off in the first place. Hostile governments will be bypassed. Volume has been nothing compared to last winter. New markets are emerging that are friendlier. Winter is coming.
Price has everything to do with bitcoin development . You couldnt be more wrong ! If bitcoin goes down mining becomes unprofitable. Network goes down also . If bitcoin goes down interest from the merchants goes down . If bitcoin goes down markets will blow their nose in bitcoin and toss it on the sidewalk like a used napkin . The idealisitic suckers who believed in a better world , in a bitcoin world , well... if they havent been ruined in trades , because they have no idea what they are doing , they will be left with some digital bits in their pc.
Its all about the money , the fiat . That gives value to bitcoin. If fiat faith in bitcoin disapears from the people with the full pockets then bitcoin will disapear also. Bitcoin is highly volatile and highly risky and still feels like a wild ride . If there is no money to be made in bitcoin there is no bitcoin. Untill there is some stability there is no chance for bitcoin to rise trully and be recognised as having value into itself . Right now bitcoin is directly dependant on other curencies giving it value . This is why i state that bitcoin is like a child , it cannot survive on its own .
Because im feeling generous this morning im going to tell you how bitcoin can get stability. Check this out : A country , anywhere in the world , needs to dump its national fiat curency and go full crypto. When that will happen crypto , any crypto , will have the much desired stability and evolution.
Personaly i dont see bitcoin as the coin adopted . We will have to wait and see because the natural reaction of goverments is to ban first ask questions later. As it has already happened.
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