Is Bitcoin in a DotCom recovery phase?

[Kakmakr]

Credit goes to source : https://www.cnbc.com/2018/08/14/crypto-advocate-bitcoins-narrative-problem-is-spooking-investors.html

The Altcoin market is currently a war zone and it looks like a small Dotcom bubble have burst. <I hate using the word Bubble, but in this scenario, it best explains what is happening>  

I compare Bitcoin to the bigger Microsoft/Dell/Yahoo companies, during the DotCom bubble and the Alt coins to the gazillion of tech companies that went bankrupt.

Will Alt coins suffer the same fate and will Bitcoin rose out of the ashes like these bigger companies, that ended up being bigger and stronger than what they were, before the DotCom bubble burst?

What do you think?

[1714137983]

1714137983

[1714137983]

1714137983

[1714137983]

1714137983

[1714137983]

1714137983

[1714137983]

1714137983

[MaryKiTy22]

otcom is seen by economists as a major financial failure. The downturns of dotcoms are only a small part of the overall Internet economy, as bitcoin is the current investment trend of the market.

[billygarrison]

Will Alt coins suffer the same fate

my answer is yes, because the average altcoin price uses bitcoin as the main money, so if the price of bitcoin falls then the price of altcoin will drop.

will Bitcoin rose out of the ashes like these bigger companies

yeah, I believe the price of bitcoin will recover, I will keep save bitcoin because I believe the price of bitcoin can soar in the future

[eternalgloom]

From the article:

Despite bitcoin's aspiration to be a safe haven asset, the cryptcurrency has not seen a rally with the stumble of the Turkish lira.

Now this is also something I'm curious about, I mean we did see an increase in volume on Turkish Bitcoin exchanges, but this hasn't resulted in the overall increase in price.

For your question:

Will Alt coins suffer the same fate and will Bitcoin rose out of the ashes like these bigger companies, that ended up being bigger and stronger than what they were, before the DotCom bubble burst?

We can't speak for every altcoin, but I do think that a large portion of them will disappear, just because it will become more and more obvious that they aren't solutions to real world problems. 
How many coins and ICOs are there that claim they will revolutionize X type of industry, while in most of the cases those industries do not even benefit from having a blockchain-type solution.

There are a lot of investments going into projects that do not have the slightest chance at success. The sooner people get their money out of those coins/tokens, the less diluted the market will become.
Crypto investors seem to be very opportunistic, investing millions in projects that look good on paper perhaps, but in reality have very questionable goals.

[jseverson]

From the article:

Despite bitcoin's aspiration to be a safe haven asset, the cryptcurrency has not seen a rally with the stumble of the Turkish lira.

Now this is also something I'm curious about, I mean we did see an increase in volume on Turkish Bitcoin exchanges, but this hasn't resulted in the overall increase in price.

I actually tried to get to the bottom of that here:

Koinim, Turkey’s largest exchange, has reported a 63% increase in Bitcoin trading volume, while the BTCTurk and Paribu exchanges have said their volumes are up 35% and 100% respectively, according to CoinMarketCap data.

If we do the math, we end up with:

Koinim: $144,577.3
BtcTurk: $1,679,437.03
Paribu: $3,343,241.5

Those were the (very) rough starting numbers before the reported growth, which led to these numbers from a few days ago:

For some perspective, here are the listed exchanges' Bitcoin 24h trading volumes as of this moment according to Coinmarketcap:

Koinim: $235,661   
BtcTurk: $3,367,240
Paribu: $6,686,483

There may be other Turkish exchanges, but I just assumed that the article in the thread quoted listed the most relevant ones. Their starting volumes are pretty low, so even significant changes in percentage points still result in low numbers. It's great that some Turkish citizens are finding solace in Bitcoin, but it's not like everyone started buying up as some articles may want you to believe. It's definitely not enough to raise global prices by a substantial amount.

[PIMPdev]

I told that bitcoin is not the bubble and get will rise from the Ashes like you have said, but for now we're having only suffering and we've been on the bitcoins grave. And who knows how long it will last.

[rickadone]

People have been comparing bitcoin bubbles with dotcom bubble for about 8 years now. How about we call it what it is ? Crypto bubble ? It is something itself. It doesn't matter that it fell because even on dotcom bubbles burst we see that some of the bad ones fall apart however today we have biggest companies as tech companies, look at apple which was the first company to hit 1 trillion dollar valuation in history. Bubbles can be bad but it can be very helpful of dropping the dead weight of bad scam coins and keeping the good ones and making people invest only on those which will help us get them to higher prices a lot quickly because the focus is on less coins.

[aoluain]

I also think the alt coin bubble will burst, there is indeed far too many
alts going nowhere. I have mentioned in a thread about the idea of
liquidating useless alt coins back into something usefull like Bitcoin.

There will be a benefit to altcoins dying, it will result in an increase
in bitcoin market share.

[arpon11]

Credit goes to source : https://www.cnbc.com/2018/08/14/crypto-advocate-bitcoins-narrative-problem-is-spooking-investors.html

The Altcoin market is currently a war zone and it looks like a small Dotcom bubble have burst. <I hate using the word Bubble, but in this scenario, it best explains what is happening>  

I compare Bitcoin to the bigger Microsoft/Dell/Yahoo companies, during the DotCom bubble and the Alt coins to the gazillion of tech companies that went bankrupt.

Will Alt coins suffer the same fate and will Bitcoin rose out of the ashes like these bigger companies, that ended up being bigger and stronger than what they were, before the DotCom bubble burst?

What do you think?

I think bitcoin is quite different from the dotcom bubble that happened some years ago.  I have tried to understand how this cryptocurrencies market work and one thing that I have learned is that bitcoin and altcoins are the future of our capital and money market.

[gentlemand]

From the article:

Despite bitcoin's aspiration to be a safe haven asset, the cryptcurrency has not seen a rally with the stumble of the Turkish lira.

Now this is also something I'm curious about, I mean we did see an increase in volume on Turkish Bitcoin exchanges, but this hasn't resulted in the overall increase in price.

Why the hell would the average Turk bother when they can go and get some Euros or Dollars? It just doesn't make any sense if you're talking about serious wealth preservation. Bitcoin is no more than a plaything. It's not any type of safe haven and won't be for a long time.

It's the same as Greece and Cyprus. I'll bet at least 10 real Greeks or Cypriots bought Bitcoin during their crises. The rest of the associated rise was the same old pumpers using it as an excuse to get excited.

[Kakmakr]

From the article:

Despite bitcoin's aspiration to be a safe haven asset, the cryptcurrency has not seen a rally with the stumble of the Turkish lira.

Now this is also something I'm curious about, I mean we did see an increase in volume on Turkish Bitcoin exchanges, but this hasn't resulted in the overall increase in price.

Why the hell would the average Turk bother when they can go and get some Euros or Dollars? It just doesn't make any sense if you're talking about serious wealth preservation. Bitcoin is no more than a plaything. It's not any type of safe haven and won't be for a long time.

It's the same as Greece and Cyprus. I'll bet at least 10 real Greeks or Cypriots bought Bitcoin during their crises. The rest of the associated rise was the same old pumpers using it as an excuse to get excited.

I will disagree with you on that. I personally helped a lot of people from Greece, when they asked for help on public forums and one organization even employed more people during that crisis to help with the adoption phase.  < Paxful>?  https://bitsonline.com/greece-bitcoin-economic-turmoil/

The thing is, we are steering off-topic with this discussion now, because I want to hear your opinion on Alt coin surviving in a DotCom type of scenario.  

[Dontme]

Credit goes to source : https://www.cnbc.com/2018/08/14/crypto-advocate-bitcoins-narrative-problem-is-spooking-investors.html

The Altcoin market is currently a war zone and it looks like a small Dotcom bubble have burst. <I hate using the word Bubble, but in this scenario, it best explains what is happening>  

I compare Bitcoin to the bigger Microsoft/Dell/Yahoo companies, during the DotCom bubble and the Alt coins to the gazillion of tech companies that went bankrupt.

Will Alt coins suffer the same fate and will Bitcoin rose out of the ashes like these bigger companies, that ended up being bigger and stronger than what they were, before the DotCom bubble burst?

What do you think?

I think so, hopefully the this will be the start of recovery of bitcoin and will be the start of recovery of all coins since we are now entering the most a waited BER months. I believe bitcoin will make us again happy.

[paynercash]

I told that bitcoin is not the bubble and get will rise from the Ashes like you have said, but for now we're having only suffering and we've been on the bitcoins grave. And who knows how long it will last.

Every difficulty has a solution. Anything can be done just as you believe it will be. Rest assured an electronic money market based on blockchain technology is quite okay. And it's hard to think like you think, live and think positive will be okay.

[FreeEarnsActivist]

I like this theory, we've had a huge bubble which bursted and we're back to normal development levels.

[Theb]

Bitcoin also took a big hit from this bear market its just that it is considered as a safe haven for a lot of traders during the bear market that is why the gap from other cryptocurrencies is getting bigger as a lot of traders/investors are pulling out there money from altcoins and putting it in to BTC. But for altcoins being left out by BTC when it recovers, I don't think that it will happen even though the gap has widened this altcoins won't be left out, and maybe by the time the market is about to recover holders who have bought BTC as their temporary shelter might buy back their old cryptocurrency holdings as they know that a BTC price rally will signal the whole market to go on a price rally too, just like what happened last December.

[Ctn]

Somehow I don't see any significance of the bitcoin and altcoins comparison here. Bitcoin gets hampered with altcoins for sure but the intensity of that happening has got very much less possibility. I mean bitcoin no matter what always receives the first investment or first hand and then people divert themselves to the altcoins. Most of the time people get scammed with the altcoin investment and then finally they come back and sit into bitcoin only. Thats how this happens or works really, and I see no threat to the bitcoin at all.
Its not recovery phase but the usual cyclic change in the bitcoin and other currencies that we see every year at the end of Q3-4 period.
Thats just my opinion here.

[rccirfan]

New technologies that shift the paradigm take a long time to really understand. The narrative around bitcoin is still really hard to grasp. Really the only metric we have for most cryptocurrencies is the price, and price is such an imperfect metric. What does actual utilization look like? That’s really the struggle for crypto right now.

[bintangkejoraku]

there is no recovery phase at this time, even the bear market continues to this day. Bitcoin prices are still not safe, bitcoin prices can go down very far at any time.

[Kakmakr]

New technologies that shift the paradigm take a long time to really understand. The narrative around bitcoin is still really hard to grasp. Really the only metric we have for most cryptocurrencies is the price, and price is such an imperfect metric. What does actual utilization look like? That’s really the struggle for crypto right now.

This is actually what sets Bitcoin apart from it's rival Alt coins. Bitcoin is currently backed by a much larger network of users and merchants that supports it, but these Alt coins are built around 1 or 2 solutions and a small network of merchants and users.

The Bigger companies during the DotCom bubble had a stronger user base and focussed on multiple applications and solutions. The smaller companies was mostly hyped and built around single solutions and when the economy started to collapse, they took the biggest damage and they could simply not recover. 

[kevoh]

I also think the alt coin bubble will burst, there is indeed far too many
alts going nowhere. I have mentioned in a thread about the idea of
liquidating useless alt coins back into something usefull like Bitcoin.

There will be a benefit to altcoins dying, it will result in an increase
in bitcoin market share.

The sad reality of this is that many of these so called useless altcoins will be worth zero satoshis if there is ever any attempt to liquidate back into bitcoin!