Not true. You must have noticed how the price has been fluctuating wildly ever since the spot ETF was approved.
The impact on market price stability cannot take place immediately. It takes a long time, and we have to wait it gradually seeps into the market. This is just the beginning of the transition process, we need more time to see this.
I agree. But, again, the question would be, how is Bitcoin popular? How is it accepted? If Bitcoin's popularity and acceptance are solely grounded on its being a new asset class, then that would be questionable. If this kind of popularity and acceptance flatly reject its being a legitimate money, then it might even be detrimental.
Bitcoin does not have to be a new currency to be considered popular or have universal acceptance. It is already strongly popular for any organization or country to consider Bitcoin as a storage asset alongside gold.
Forget about the crypto field. It's heavily flooded with scams. Scam projects, those that are freely riding the waves of Bitcoin's popularity, indeed create jobs, but it's not worth it. The negative effects of these scams far surpass job creation. I would wish that these jobs won't be created if it means there will be scam victims all over the world.
Why do you only think of scam projects and think there is no job space for this entire market? There are still projects that are working very seriously for the development of this market, and they are still in dire need of personnel for that development. We should not judge the entire market only through those unhealthy projects. Regardless of any field, there are fraudulent projects, not just this market. In the beginning, when everything was not clear, there were a lot of scam projects, but I believe that when the market becomes mass adoption, the purification of those unhealthy projects will be much stronger, and then there will be no lots of living land for projects that do not operate seriously.
We must need more time to be sure about things like better stability, less volatility but my warning is you must look at high volatility times in stock market, bank stocks and gold, oil markets to see that even in traditional markets, there are times for massive high volatility.
Hence, I really don't exclude any chance in future that Bitcoin will have big corrections.
Stock, gold or oil markets are all affected by global economic and political situations. You can see that the general situation of the world in recent years has been extremely volatile, with wars and conflicts happening everywhere, accompanied by rising inflation, so these markets are increasingly volatile is easy to understand. And so is Bitcoin, now it is also part of the global financial market, so it cannot avoid temporary fluctuations. Do you agree with me that in recent cycles, Bitcoin prices have been much less volatile than previous cycles? Partly because as the capitalization value of Bitcoin increases, it will become more difficult to manipulate the price, leading to reduced volatility.
