I'm a complete newbie when it comes to Bitcoin trading and speculation, so bear with me. Is this REALLY a dump? Barring anything
crazy, it seems like a normal lifecycle to me. Think about it:
Stage 1: Bitcoin's infancy. Low dollar value, little hype, little mainstream adoption
Stage 2: Bitcoin bubble. Sky rocketing dollar value, all kinds of hype, increased mainstream adoption
Stage 3: Bitcoin bubble "bursts". Prices fall. Mainstream adoption continues to climb.
Stage 4: Bitcoin prices level out, higher than in its infancy but much lower than during the bubble.
It seems to me that we're in Stage 4 which, while not great news for traders cashing in on the rises and dips in the market, bodes
extremely well for increased mainstream adoption. I think part of the aversion to Bitcoin adoption has been its volatility. The very
thing that made it so attractive to traders scared the hell out of merchants. IMO if Bitcoin attains and holds a fairly steady dollar
value, more merchants and service providers will be likely to adopt it.
At least that's how I'm seeing it. If I am wrong, someone please let me know and explain to me why.
Cheers!
Cynthia
I believe mainly here still goes back to demand and supply side. Don't forget every new coins by the miner to the open market have to be bought. And that haven't include coins by existing holder who decides to sell off. If the demand is not picking up eventually people will undercut each others price to sell lower. And that will continue as long as it doesn't go below mining cost. The only thing we can see in light is some news event by big companies to announce adoption or integration or we just wait for the next halving to take place when supply factor goes down.
