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All of this has happened before, and all of this will happen again. EDIT: and I stand by my claim.
How? Which investors are going to believe the next bubble isn't a bubble?
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Venture investment in Blockchain went up in 2018. The median deal size increased over $1.0mm and the number of deals is also up. [1] Once the ecosystem of complements matures, Bitcoin's utilization is expected to increase. [2] The price of Bitcoin is driven by speculation that utilization of Bitcoin creates value. [3] [1] https://medium.com/@PanteraCapital/market-update-pantera-blo... [2] Crossing the Chasm, 3rd Edit…
to add to this, adoption rate for cryptocurrency increased this year as well https://www.investinblockchain.com/cryptocurrency-adoption-r...
BTW, the reference states
"The study indicated user growth rates were higher in 2017 but continued on into 2018 at a rapid pace."
As it has done multiple times previously. I anxiously await reading why this time is "different", just like all the previous times.
Because the previous times it wasn't being hyped in mainstream news and culture. The point where the guy on the elevator is taking about [bubble] is the point at which [bubble] is about to burst for real, because you've just about run out of new suckers to fuel it.
During the period of stability that follows, they're nowhere to be found.
After things have already turned around, they jostle with each other in an attempt to explain it all to Joe Sixpack.
What the article fails to mention is that each "pop" has left the exchange rate higher than the previous top.
Missed opportunity to investigate an emerging asset class with no direct analogy to anything preceding it, periodic manias or not.
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All of this has happened before, and all of this will happen again. EDIT: and I stand by my claim.
There's an important idea when it comes to investing: "past performance is not indicative of future results" So no, it's not a sure thing to "happen again" and leading people on like that is just not right. Stop that. Edit: I don't care what "claim" you stand by.
You are free to disbelieve, at your own expense.
About crypto, I sometimes make bold claims, that are downvoted [1], but I stand by them. And they come true [2] much more often than not.
Last time was about DOGE. Went quite up as predicted, went a bit down during the last crash but still like at position #21 today. And I still expect it to go higher - at least around #15 soon, unless something similar comes.
Before that, it was against ETH maximalism [3] - that ETH was not going to be #1 even while it was raising. I thought it was a good #2 but even that seems was too generous, as it is now in #3 and I can easily see it sliding down more.
Likewise, I state that BTC will bubble up, again and again, until something else offers better features. I haven't seem that "something" yet, hence my claim. The only question is how low it will go before it bubbles up. I'd say 1000. There isn't blood in the streets yet, the crash is just starting :)
[1] https://news.ycombinator.com/item?id=17684359
As it has done multiple times previously. I anxiously await reading why this time is "different", just like all the previous times.
This is the first pop that I’ve felt is likely to be the last. A lot of people got burnt and are unwilling to jump back in.
Why’s it still so darn expensive then?
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How? Which investors are going to believe the next bubble isn't a bubble?
I am a huge crypto currency skeptic and think the market is largely driven by massive amounts of fraud. That said -- eventually the price will drop to the point where the price is entirely driven by Bitcoin's natural customer base -- tax cheats, money launderers, drug dealers, etc, and will probably in fact over correct. Just for the sake of argument, let's said that 'natural price' is $500 or $600 a bitcoin -- it bo…
All their prices are denominated in USD, all they care about is that the exchange rate is stable. As for the launderers, you can launder money with BTC just as well when it is $3/coin, as you can when it is $3 million/coin.