December 2017. Who does not remember? Who today does not cry for that time that it seems that it does not come back more?
I remember with a lot of longing, and today, with a little sadness and frustration of that time. One year ago, the price of Bitcoin has seen a rise never seen in the history of our beloved virtual currency.
No one could imagine that the price would rise so much and in such a short time. In January 2017, the price of a unit of Bitcoin was close to $1,000. In December 2017, the same unit of Bitcoin was worth 20 times more: $20,000!🤑
Who took advantage of this time of great explosion in the currency, became rich or millionaire. But even those who bought Bitcoin at the start of their climb between October and November 2017 also "surfed" on this great wave of prosperity and optimism that has invaded the crypto world.
Our Steem was not out of the "party" either. The SBD (Steem Backed Dollars) was for an unimaginable price of $20! Everyone here at Steemit made money. By week, a newbie could win a week up to $500 with your posts rewards. It was crazy time, a very good madness.
I remember waking up every day in the morning, and as I usually do, I get my smartphone, open the "Blockfolio" app and every morning Bitcoin took a "monstrous" rise at its price. One day the BTC was worth $5,000, in the other a raise to $10,000 and by the end of the week it was already $15,000.
Here in my city (Recife), businesses and services based on payment in crypto currencies took a big leap in that time. Bars, shops, restaurants, medical clinics, colleges and even gas stations have come to accept Bitcoin and other crypto currencies as payment, with so much publicity in the rise of our digital currency.
But ... our happiness lasted little. In January 2018 we fell in the real. The $20,000 Bitcoin gave a brutal dump to $15,000, then $10,000, and I remember that over the course of 2018, it came to $5,000.
Many newcomers in this market, who had bought assets in Bitcoin in December 2017, were left in irreversible damage. I heard reports of people who had sold home, car and even gave all the money they had in their bank account to buy Bitcoin and after the drop in the price, they never want to know about digital currencies because of the trauma they suffered.
Even I and others who are experienced in this market, we fall "in disgrace." We made commitments in December 2017 that today would be impossible to fulfill, we spend beyond what we could and today only left debts, regrets and disappointments.
Here we are at another end of the year. I read in some news portals about crypto currencies the hope of some investors that in December, Bitcoin may have a rise equal or greater than it had in December 2017.
I honestly do not believe it. If Bitcoin had to rise again as it was last year, that climb would have happened since the month of October of this year and it did not come.
Bitcoin today has a very low price compared to the $20,000 of December 2017, but it is stable. It does not leave the line between $6,000 and $7,000 and it is in this line that you can make money, make a profit.
This certain stability is good and at the same time frustrating. Frustrating, because, the Bitcoin in my view is undervalued. This coin is a finite good in the sense of having a correct number of units. There are a number of 21 million Bitcoin in circulation in a near future and it is estimated that 80% of the Bitcoins have already been mined.
In this brand, Bitcoin was already worth at least $50,000.
While this climb of "our dreams" on Bitcoin does not come again, we get the memories of a good time and the lessons learned today in a bad time.
Source IMG - Design made by me using Canva.
Portuguese Version
Thank you so much for using our service! You were protected from massive loss up to 20%
You just received 10.22% upvote from @onlyprofitbot courtesy of @jsantana!
More portion of profit will be given to delegators, as the SP pool grows!
Comment below or any post with "@opb !delegate [DelegationAmount]" to find out about current APR, estimated daily earnings in SBD/STEEM
You can now also make bids by commenting "@opb !vote post [BidAmount] [SBD|STEEM]" on any post without the hassle of pasting url to memo!
* Please note you do not have to key in [] for the command to work, APR can be affected by STEEM prices