In my world, bitcoin is playing a major role as the financier to some of my projects. Next year, as governments and companies take notice, it will start to affect the way people do business.
I think most investors are just cashing in or doing some profit taking to have money to spend for the holidays. After the festivities, I expect bitcoins to continue its run.
Bitcoin is the Michael Jordan, Babe Ruth and Pele of cryptocurrency. People would ask about bitcoins first before cryptocurrency. It’s the first and catchy, like Kodak. First time investors would naturally choose the most widely used and the most well-known.
People are cashing on the gains from the previous two months of upswing. They want to enjoy the fruits of their labor (investment) during the holiday season. Or maybe the cryptocurrency market is on a correction/stabilisation period.
Most people are now busy preparing for Christmas. Buying gifts, attending parties, etc. I myself did a lot of profit taking to be able to celebrate the holidays in style. Would love to give bitcoins as a gift.
This happens a lot. Founders leaving or getting fired from their own company. Still, those companies continued to flourish despite the departures. Bitcoins is at a trajectory right now where nothing, not even doomsday pronouncements from IT legends.
99% of us here missed the boat. No point in crying over spilt milk. The good news is there are still a lot if boats. Bitcoin is still considered in its infancy. We could still get a windfall of at least x5 if one is patient enough.
Mining is my main objective. Part of my profits from trading are being set aside to finance a basic mining rig. Worst cast scenario, I have a kickass gaming rig.