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Bitcoin was created in 2009. There are not enough data points to make a reliable prediction that it will go up again. This time a lot more people have had time
by buitreVirtual 4y ago
Bitcoin was created in 2009. There are not enough data points to make a reliable prediction that it will go up again. This time a lot more people have had time to think if bitcoin and crypto are going to work at all. Also, there might not be enough new people after this cycle to join in the frenzy and bring the price back up. We might very well be at the end of the pyramid.
- avrionov 4y agoThe interest rates were low during the entire existence of bitcoin + QE for the same period. We don't know bitcoin and the rest of the crypto currencies will react to higher interest rates.
- ansible 4y agoIf this is the end of the pyramid scheme, then thank goodness. There is some legit usage for blockchain technology. Like Internet based distributed & encrypted storage (erasure coding FTW). Beyond that, I don't know.
- eric_cc 4y agoThe complete bullish thesis is still in tact. In fact, the thesis is as strong as it ever has been. Nothing has changed but the price.
- vecinu 4y agoI heartily want to agree with you but from personal experience, I heard this exact same theory at the end of 2020 right when BTC hit $40k. "How many more fools could there be? Don't they see it's a ponzi scheme?" Then we hit $64k afterwards. I truly hope it's the end, for the sake of the environment.