If you follow Bitcoin news (as we assume since you’re reading this), you know there’s a lot of bad vibe around it. Haters say it’s too volatile, that it’s worth nothing, that it isn’t money, that’s it’s ruled by China and many other things. Well, most of that is just absurd. It has nothing to do with reality and everything to do with fear which is, unfortunately, the way most markets work.
So let’s take a minute to have a look at Bitcoin’s current situation and try putting it into perspective so we can find out if it’s so bad as critics say or if things are going more or less well, giving us no reason to panic.
As we all know (and if you don’t you’ll find out in this very sentence) Bitcoin reached it’s highest peak last December 17th. It’s been all going down since then. This is terrible news if you bought tokens back then but is it that bad for the community as a whole? Does it mean that Bitcoin and crypto are doomed?
Some people would answer affirmatively to both questions, but you should take that point of view with a grain of salt. A lot of the people who manifest that are people who are reading the writing on the wall but are scared of Bitcoin to go up because they don’t own any. We know how childish this sounds either from them or form us, but it happens.
But if you take the time to look closely into the Bitcoin market’s recent developments, there are plenty of good signs. We are quite confident that this will mean that Bitcoin will grow back, it will explode in price at some point in the future, and it will lead the way (as it always has) for the cryptosphere as a whole.
Let’s review the facts.
First of all, something like 10% of all of the world’s Bitcoin wallets has remained inactive for most of the year. And some of those wallets are pretty big. This means that there is a perfect proportion of BTC holders who are sure that their digital asset’s value will go up again, which is why they’re not selling, even as the market keeps going down.
Then there’s the volatility factor. Crypto markets, Bitcoin especially, have been intensely criticized by skeptics and haters because of the level of volatility they have. While volatility has been, indeed, the rule for years, if you have a look at what’s happened over the last month, you’ll find that Bitcoin is, right now, half as volatile as the Dow Jones index or as any fiat currency market. In other words: BTC is becoming a stable means to store wealth, more reliable than most other traditional resources such as the stock market, USD, Euros, or Pound Sterling.
One last thing: have a look at the value chart for, say, Apple’s shares. Then compare it to the current chart for Bitcoin and other digital assets. Do you see how much they look alike? Apple has been around for more than three decades, so it’s had the time to explode but just notice how Bitcoin is showing the behavior Apple did before it went big (and we mean really big).
Remember this: 17 years ago everybody was sure that Amazon would go down like a led balloon. A lot of ink was spilled explaining the world why it was never going to work or recover. Well, Jeff Bezos is now the world’s richest man and nobody doubts about Amazon as a viable option. So don’t despair about your Bitcoin holdings. If you have some, keep them. If you don’t, do your homework and get some.
For real-time trade alerts and a daily breakdown of the crypto markets, sign up for Elite membership!
Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
Image courtesy of Flickr
What Will It Take For Bitcoin (BTC) To Rise Again?
It is no secret that 2018 has been a terrible year for cryptocurrencies when it comes to their value. Things looked so bright during the first few days of this year, with Bitcoin hitting $20,086 per coin, and every altcoin reaching new heights. However, it was not to last, and soon enough, the market crashed, and prices went down.
What followed was months and months of a heavily bearish market that kept pushing the prices further and further down. It prevented any attempt of recovery, although several of them gave it their best shot.
Despite a situation like this, crypto investors never forgot the potential of Bitcoin, and many have been predicting another bull run that would have the same results. Those expectations were quite large, and potentially even unrealistic at first. Now, however, as the year approaches its end, it doesn’t seem like anything will happen. The community started to wonder why that is, and what would it take for another bull run to emerge, which is what we will try to answer right now.
What does Bitcoin need in order to have another bull run?
1. Bringing regulation
The crypto space remains highly unregulated in most parts of the world, which is one of the largest reasons why BTC remains dormant. While there are attempts to regulate it, these attempts are made even more difficult due to the fact that the market is constantly changing and…
Forget Bitcoin: 3 Altcoins That Will Double
This movie is getting old.
Every day we comb through the news, scour the web, and flip through the feeds on our social media pages. We look for the movement on our favorite coin(s) and we search for solid investment opportunities. Of course, the dominant advice we are fed inevitably leads us back to Bitcoin (BTC).
Is it a good time to invest in Bitcoin (BTC)? Is Bitcoin (BTC) ready to move? The Twitter feeds are sure of it. Any day now, Bitcoin (BTC) is going to go through the roof. And if you don’t get in now, your FOMO will leave you waiting for a dip, hoping to join your giddy friends who knew better all along. But when you open your wallet to check the action on your investment, it’s always the same thing. The undisputed king of the cryptoverse has traded sideways again.
To be clear, Bitcoin (BTC) is going to come back. And when it does, it will likely double or triple overnight. But you know what? So will a number of altcoins in that time. The question that leaves most of us scratching our heads is, which ones? And while no one knows for sure which coin(s) will pop, what follows is a short list of three great crypto-choices we should be watching while we wait for the king to come back.
Basic Attention Token (BAT)
The first (And most obvious) on my…
Bitcoin path looks similar to that of NASDAQ during the dotcom bubble era
Unlike many other things that enter the stage with a bang only to disappear, blockchain is here to stay. Opposite to when it first appeared with Bitcoin a decade ago, currently, it seems like blockchain is the next big thing that will shape the manner money is spent.
Sometimes it makes sense for investors to use the past information to help stay in the game a bit longer. Therefore, today in this post, we are going to look at similarities between the dotcom bubble since 1973 and Bitcoin since 2011.
Will Bitcoin cross its all-time high ever again?
According to the quarterly charts, the Bitcoin price trend mirrors that of the NASDAQ index of the 1990s, but there is a catch. The manner in which NASDAQ traded in 2000 is similar to a one-year performance for Bitcoin over NASDAQ’s 14 years, with the difference being that bitcoin is fourteen times faster than how NASDAQ did it.
Reason being, today’s technology is much far ahead as the information travels faster with the diverse social media platforms and the high-speed internet connections. One thing that makes all financial bubbles universal is the fact that human fear and greed never changes.
For that reason, NASDAQ took long enough to rise 1,700% to its all-time high while Bitcoin managed a similar return in merely a few months. Similarly, NASDAQ took around 30 months to fall 78%, whereas Bitcoin lost 70%…
Ludos Protocol Makes a Strong Case for Investors in Blockchain Gaming
Ripple director: Banks tapping into Ripplenet to form a network to ditch SWIFT
XRP turns green as it secures listing on new crypto exchange Shardax
- Altcoins2 weeks ago
Electroneum (ETN) and Ravencoin (RVN): Two giants in the making
- Bitcoin2 weeks ago
China sees Ripple as innovative blockchain while Bitcoin gets no love again
- Don't Miss1 week ago
40 million XRP just got transferred to former Ripple executive Jed McCaleb
- Altcoins1 week ago
What would you buy when Electroneum (ETN) reaches one dollar?
- Altcoins1 week ago
Stellar (XLM) poised to see massive gains next year, here’re the reasons why
- Altcoins1 week ago
Red Pulse: Rise of the Phoenix (PHX)
- Altcoins5 days ago
3 Coins Coinbase Will Adopt Next
- Altcoins1 week ago
Why Ripple, Tron, and Cardano are top promising crypto investments