RE: South Korea Is Out of The Bitcoin Market
Bitcoin is dying and its dragging the entire market down with it. The markets are literally joined at the hip with BTC, and when BTC falls because people have realized how slow and unreliable it is, the larger market ( the new money, people who have been in the game for less than 5 months) panics as they believe that bitcoin IS the market, and if bitcoin fails, then everything else does. This is part of the issue when people like Warren Buffett go on record saying that "Bitcoin is a bubble and will burst" That part is true, for the most part, not many people are willing to pay $36 for a transaction, especially one that takes an hour or more to confirm, and even more so when the developers make little attempt to fix the BTC network -
But when everyday people hear things like this is causes a massive amount of irrational fear...coupled with news from South Korea which was false, as well as news from traditional outlets that claim the market and Bitcoin are constantly dying. We risk going into a free fall in prices within the next few weeks if people don't stop spreading false information. The market dropped by 30% just on false news and an assumption that Korea MIGHT POSSIBLY COULD BE MAYBE be banned from the markets. What would happen if over a 3 day period Fox News and CNN falsely reported that "Bitcoin" was going to be banned in the US, without any proper sources to back it up? The market would implode all based on a rumour. This is why its VERY important to not follow false channels, or people looking to hype coins, its causing the market to expand in a direction that it shouldnt be going, which is the hype, pump, dump and the market is burning scenarios. This has a lasting effect on the human mind, and we'll pay for it eventually.
iam sorry for saying this, your wrong.
bitcoin is not dying, its loosing some weight in cryptomarket compared to others,in other words many coins are doing well, market is growing rapidly.
this buffett 'panic news shows how hungry they are to make their own profit with. they all start realize blockchains are fk useful and to decentralized to stop them. (they even couldnt handle n.korea) ofcourse bitcoin has not arrived at his final stage and has potential to get more efficient. at times like this, they all try to get a cheap deal which they payed with money, earned easily every day from their working people, payed with gambling money from their petty cashs.
price rallys back to 15...20... and at 25.000 'we buy it back - thats the way people pay for.
i can good remember last panic news from jpmorgan? at BTC ~2k, i bet they are in now :D
anyways its a winwin situation, if they arent right- years later no one remembers 'this one article,they will say how genious investment banker they are, cause they made xxx% profit - good old way how the media pr works
banning sth is primitiv and smells like middle ages, how should this work out? they couldnt effort to handle this. its useless like every other goods. if you make it illegal, people starts geting crazy wants to have it and? buy it, behind new wall in Mexico!)some kind of controlled handling will be a rational way how they might be operate to handle situation with tax,crime,... but wont this boost crypto aswell. more people will start getting in contact with, perhaps at banks? which creates more trust.
their are not much alternatives to invest to, stocks at alltime hight. bond market trends to zero. they wont shoot at young milk cows.
now, we all should get a big glas of goood milk ,yumyum :>