Oh How Far Bitcoin Has Come..
The positive momentum that Bitcoin was able to regain today really shows how much bitcoin has grown and matured over the past year.
Bitcoin used to face tremendous hurtles shifting the market's momentum after a retreat, but I believe the gains and support that the market has gained today really speak to just how much Bitcoin has matured. We have really never seen this level of support within the Bitcoin market, even when we just compare Bitcoin's current support with the support it had just 6 months ago, the difference is astronomical. There isn't an investment out there that will not make any type of price retreat at some point during its life cycle, but what is really important is how quickly and strongly the price and support are able to recover. The ability that Bitcoin has shown in recent months to recover from retreats and continually gain price and momentum really bodes well for its likelihood of long term success.
Even with all of the drama, problems, and hurtles Bitcoin has been facing, the support and momentum both remain strong.
Can we even imagine what the pricing level and support would look like if these problems and hurtles were solved? Even with all of the hurtles that bitcoin development and transactions have faced, the price and support remain at never before seen levels. In my opinion, one of the most important aspects of an investment is how it acts in difficult times, and Bitcoin has shown to have the ability to continue to gain in popularity and price despite the short term obstacles that it faces. I just wrote a post this morning regarding how I wasn't too worried about the price retreat yesterday due to the abundant support that Bitcoin has had recently, and it turns out that the support returned and so did the higher pricing levels. Today's movements and gains really impressed me, and make me very optomistic about Bitcoin's performance over the following months.
What do you think? I hope you enjoyed this post and please feel free to leave any comments, discussions, or your input below! Thanks for reading!
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I agree, We have a long way to go in Bitcoin and other Cryptos, the party is only just getting started.
For me this is an indicator that the system will have a horrible collapse in someday in the future. It lacks governance, it can't scale, it's bought mostly by people who don't understand the fundamentals. When investors start to realize that because Bitcoin sucks so much technologically, it can't become worldwide currency, they will abandon it.
This is pure hype and it has nothing to do with becoming mature.
i guess it really just depends on what happens with Bitcoin developement in the future. I do agree that the situation you described is a possible scenerio, but i dont know if it will come to that. investment into bitcoin currently is still individuals investing in bitcoins future use and value, rather than its present day uses.
Currently it's very hard to see that Bitcoin could overcome the problems. Those problems are known for years so there has been time to fix them. But nothing has happened yet, not even now when the situation is getting really bad.
I really wanna say thank you for leaving your input on this post. Its given me a lot to think about and added to my perspective. I don't know if Bitcoin will a make it, but if it isn't able to achieve technical efficiency and practicality its likely that it will be another crypto that first gains long term success.
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