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RE: SCARY Trend in Bitcoin & Other Cryptocurrencies

in #bitcoin7 years ago

Love it, I was noticing the exact same thing over the last few weeks. Your views are going down more and more and the same goes for here on Steemit.

But it definitely seems like a decline in interest. Cryptocurrency was going viral in December and now that people haven't made money and there hasn't been huge increases in prices people seem to be uninterested.

I myself have even been trading less, although still following everything a lot. I do get the feeling that it's a phase though. There's been a lot of doubt, a lot of bad news and scandals, price action has been going down or just boring, and all the frenzy has died down.

Like last year there was an explosion in the altcoins over the summer, and then they all died down. I did sort of expect a bigger increase in price action at this point in 2018, but I still think at some point we'll have another big bump up and everyone will start talking about Bitcoin and cryptos again. Whether that's next month or 6 months from now, I have no idea, but my hunch is we won't finish 2018 at a $400 billion market cap.

It's definitely indicative, however, of the focus more on profit than investing in some amazing new technology because you believe in it or want to see it grow. I think you can see that also in how there's starting to be a ICO for everything. Within the next couple years we might literally reach that, and then maybe that's when the "bubble" will pop.

We love to compare crypto to the growth of the internet, but right now it's still difficult to tell if crypto is in the equivalent of 1999 for the internet or 1993.

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