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RE: Erik Voorhees on "Is Bitcoin the Future of Money?"
in the end 2017, people believe BTC will be something big that can change the world (may be they do'nt know what is BTC), so BTC price go rocketing. But now, people know BTC is not good enough to believe for a bright future, so BTC price down. Is Bitcoin the Future of Money? I think maybe "No"
An interesting suggestion, but not quite. In late 2017, the price of bitcoin rose because people saw the increasing value (from educated investors) and wanted in on this quick profit. This (obviously) created a bubble, and when the bubble popped, the price fell. It's practically the same as what what happened in early 2014, and based off of that, it will likely recover (slowly but surely) over the course of the next 2-3 years. Not an advisement, no inside knowledge, just an educated guess based off of similar events in the past. That's what the past is there for, is it not? To learn from.
No, If you're looking for a time when the price of BTC rose because of high expectations you'd have to look at the beginning of 2017, when BTC once again rose over $1,000 because of the possibility of ETFs making it more mainstream - the ETFs failed, BTC dropped below 1k, only to rise again within days. No, when bit coin spikes because of high hopes for the future, it's a small spike, and easily recovered.