Bitcoin has re-emerged, but this time it’s not in a boastful style that your cousin uses at family gatherings. The cryptocurrency community is divided following a precipitous price decline: is this the end of the road for Bitcoin, or is this only the next twist in its endless tale? click our extra resources for another topics!
Everything is on edge. With prices falling at the faintest hint of regulation, the markets are behaving as if they’ve had too much coffee. Governments are constantly changing their stances, and prominent investors are fleeing the trend at an unprecedented rate. At the same time, there is an abundance of heated commentary on social media, with some people forecasting disaster and others hailing this as the best purchasing opportunity ever.
However, it should be remembered that Bitcoin’s demise has been covered many times. It has withstood everything, including restrictions from China and huge hacks on exchanges. “Bitcoin is dead” naysayers seem to crop up with every crash… [until the next rally disproves their beliefs].
Also suffering the heat are miners. Big mining operations? Not so much. Little players are going out of business as earnings dry up. Their gamble is that this slump is merely a prelude to the next rally, therefore they are increasing their wager size. Risky? Sure thing. However, that is typical in the cryptocurrency industry.
What about the blockchain? Functioning as expected. In the midst of all the mayhem, developers are keeping their heads down and cranking out new projects. The technology shows no fear and continues to advance.
Then there are those who truly believe. You know who they are—the hodlers. They’re stuck since they’ve seen it all before. Not a crash, but merely another twist in the plot, in their eyes.
Is Bitcoin really going down or is it simply going through a period of transition? Absolutely, there is never a dull moment. Stay focused, regardless of whether you’re involved for the money or the drama. Already work has begun on the next chapter.