A Bitcoins doom scenario, will it happen?
When governments and well-known financial persons continue to make negative statements, we might be able to turn to the following doom scenario. Since January 8, 2018, the Bitcoin loses its values. We are currently back at the level of November 2018, just before the hype started. A lot of criminality and money laundering, but also because the bitcoin is a threat to the normal stock exchanges, hackers had to prove themselves and now the G20 is looking at regulation of crypto/ico. So, it is not obvious that the Bitcoin will rise again quickly. With the prospect that Mt Gox will sell again in September 2018, it is scary to know that he has still $ 1.9 billion worth of BTC and BCH to sell.
We can try to estimate or draw possible scenario's but it's in the hands of a few people. If they believe in the Bitcoin and the block chain, we have a good change Bitcoin will go up again. But we also need the belief of many people just like you and me to invest their money in cryptocurrency.
We are at $7500 now with an Ask of 88 million. Time will tell.
As told in my previous blog 4 hours ago:
https://steemit.com/bitcoin/@goldmine2018/we-dropped-below-the-critical-point-of-usd7750-not-just-a-correction
We know from the past, we will move up this evening (20:00 > Central European Time). :-)
Someday the masses will realize...it's us or them (them being the g20).
When mainstream media puts the volatility of the market behind them and instead focuses on the futuristic benefits that many ALT teams are unveiling RIGHT NOW. Such as access to VR worlds that mimic our own for those unable to access the world beyond say, a hospital...access to education and entertainment in places where educators and entertainers may not be able to reach. The possibilities are expansive and with the support of the rest of the world, endless.
Thanks for your post and highlighting the controls that grip the market right now, regulations, Mt. Gox, negative media. They might keep spreading the FUD but as long as we rally with the truth we may have a bright future yet!
I agree totally with what you are saying. I hope to see more governments across the globe figure out a way to work with crypto as a new market to generate income for others who may not have found such luck in current financial streams available. I think if the governments can work to ride the crypto space of evil doer's it will make for a better environment for us all to thrive in. great post.