Am I pessimistic or is bitcoin still over hyped?

[Tipsters]

Disclaimer: I don't own any crypto currently, and haven't done so for a few months now. I left the market in profit, and haven't been able to appropriately value bitcoin since, so haven;t made a new entry yet.

Ok, first of all, I know this is going to be an unpopular opinion on a Bitcoin forum, but here goes.

Every time I first sit down at my computer each day, I trawl through the relevant cryptocurrency related subreddits, news sites and of course this forum. Day in and day out, without missing a heartbeat, I see a flood of incredibly optimistic hype posts relating to crypto and its future success. Whether it's the age old comparison between the bitcoin price a few years ago compared to today to the ever popular debate about it solving all the financial problems in the world, the content never ends! I'm struggling to actually determine if I'm burnt out from all the talk over the years or if its actually a real problem formed by a large following of overly delusional bitcoin fanatics who aggressively believe that bitcoin is the be all and end all solution to all the worlds problems. I can't help but feel the more and more I get involved with crypto, the more and more I feel like it's just a well orchestrated ponzi scheme, that has a large amount of people fooled into believing it's their gateway to a better world and financial freedom.

Does anyone else share similar feelings, or do I need a break from crypto to level my head? I am not saying that bitcoin isn't a revolution, I'm saying that its being pushed by brainwashed people far beyond the extent of its appropriate reach.

I think you know better than thinking this is a ponzi scheme. The ponzi scheme is really the mind of those people that's here to gain financially and nothing else. If you believe in the advocate of cryptocurrency in general, you can filter those good ones and just continue to fight for those. Imo it's just you're really overly dosed of the FOMOs and FUDs of the content you see everyday. It's really not good mentally and can affect other aspects of life later on.

[pixie85]

I'll tell you how I calculate it. Bitcoin was worth 20000 dollars for a while and it stayed for 4-6000 for months before the ATH and months after it. In fact Bitcoin was priced above 5000 for a year now. The whole mining industry and, stores accepting it, pay processors, everything worked for a year at 5000+ dollars. Now we are at 4000, so why would we still be overhyped? Because some people on forums and youtube believe in it? They should be because it's still very small. This forum is very small when compared to other payment processors and banks.
Deutche Bank's income is over 26 billion dollars a year! It's only 1 bank! Whole Bitcoin isn't worth 70 billion now, so one bank is earning per year 35% of while Bitcoin's value. It's not worth 35%, it's earning 35%! And tell me again that a global payment system of decentralized money is overvalued if it's worth less than 3 times the yearly income of one bank.

[ChinkyEyes]

Just this last week alone, the normal go to news site for crypto have been a lot more bearish/fudding than usual. A lot of old news has been recycled again and thrown in our faces. The same old story being told over and over. I do not think it's over hyped at the moment.