Bitcoin is not dead
Last year we saw the biggest pump on the Bitcoin prices ever, an spectacular rise of everything that crypto touched and the bloom of an entire new way of doing business. Finally the technology we all see with value was being recognized by the mainstream media and investors, so the question was what would it be when the crypto market increased in the total cap and the consolidation of it during 2018. Now we are facing a terrifying dip and the debates goes around the fundamental problems of bitcoin and its adoption, the limitations and maybe how wrong we were into believing this, but what if everything is explainable as financial manipulation?
At a simple view of the Bitcoin story, last year the market grew due to the increase of the money coming into it. First it was the small investors, then the aficionado, more mainstream caught to the story and then the entire world started to talk about it. We saw in a few months how the total market cap of the crypto business was growing and growing, the predictions of the Bitcoin price came with the talk of doubling or tripling the market cap. When the cap reached about $500 billion we saw the climax of the bull trend, everything was possible and we just needed the consolidation of it through the traditional investment funds betting on crypto, that was the moment of the announcement of the Bitcoin Futures on the CME platform. For a moment we all cheered the flowing of "Wall Street" money into Bitcoin and other altcoins. This was the beginning of our problem.
By the time the Futures were launch the market peaked to $800 billion dollars, and the talk was to reach the amazing record of $1 trillion dollar crypto market. With this the price of Bitcoin was topping the $20k mark, and everyone saw the very logical future of the supremacy of Bitcoin and evolution of this economy. Now, just a month later, the market has lost about $500 billions and the prices are falling hard. Is this a coincidence? I don't think so.
To be able to surpass the bearish market that we currently face we need an huge inflow of money, that traditional finances sees as investors confidence and consolidation of value. The problem is when we have a pure raw market, with no protection to big money manipulation. Wall Street dumped a ton of money on Bitcoin and altcoins last year with a hidden trap, a bet that we could not really see, and that bet is paying off today. The Futures shorted the market, increased the total cap by billions of dollars and as easy it was to pump, easy comes the dump. In just one or two months big whales put the money that made them a fortune and now they are cashing out, taking away the billions and making the prices fall without a parachute to cover the hole. The Futures are a bet on Bitcoin failure, this money that came to pump everything in reality is just a manipulative strategy to make it grow and then benefit from its fall.
Now we face the awkward moment when we need investments to recover the dip. Last year everyone involved in blockchain and crypto made a ton of money that is being cash out without breaks, especially big financial institutions and players, the shorts are lighting up the bets against this economy. Wall Street is coming to bail out, there are no banks that are going pump the crypto, so what we have left? The common person, the enthusiast and the key players that brought ideas that were capitalized in 2017, a time to pay off the community with results. A time to understand that is not a dead end and is just a reality check, to really believe in what the value of crypto is about. This is not a financial vehicle to make easy money, this is a revolution that could benefit the entire world.
What do you think about this situation? Please share your opinion in the comment section.
Thank you for reading.