This is really like interent bubble of 2000's?
Dear Steemitians
How much is Cryptocurrencies scaries? "Is it a poison that will end the bubble of tulips", as the American tycoon Warrent Buffett claims? Or "the beginning of something big: the currency without a government, something necessary and imperative", as Peter Thiel, co-founder of Paypal, maintains? On 5 October 2009, the day of its first listing, the Bitcoin was worth 0.00076 dollars. Today, to buy one they need just over 6,300 dollars but at the end of last year they needed almost 19 thousand. The euphoria of late 2017 has been paid dearly by many investors. The few daredevils who have invested in the beginnings on the cryptocurrency are still sleeping more than quiet, but most of those who have today in the Bitcoin portfolio have been dazzled by the bull of 2017 and in many cases suffered heavy losses. From the historical peak of 18 December 2017, Bitcoin loses almost 70% and it still weak in this time.
The lows this year were touched on 28 June, 24 July earned 44% from the lows and today maintains an increase of less than 10 percentage points. Despite this little reassuring scenario, the focus on Bitcoin continues to increase. Ing International has just published a study that highlights the vision of savers in March, just in the worst period of the collapse of Bitcoin. 15 thousand people were heard in Europe, the United States and Australia and the data that emerges is surprising. Instead of finding disappointment and fear compared to the world of cryptocurrencies, a discreet welcome emerged.
9% of respondents in Europe said they had cryptocurrencies even in low quantities and 25%, despite the collapses, thought in March to buy them in the future. Also the perception of the level of danger is rather low. Only 46% in Europe consider the less risky shares of digital currencies like Bitcoin. And only three out of 10 respondents think they never invest in cryptocurrencies. Bitcoin does not yet have all the features necessary to be considered a currency in effect. Money is something that is used as a medium of exchange, which should be widely accepted as a means of payment. The acceptance of Bitcoin is still very limited, also because price stability, which is an important aspect in exchanges in traditional currencies, is today a concept very far from the world of cryptocurrencies. As a recent UBS analysis recalls, the structure of Bitcoin and high volatility are the main limitations.
The offer is fixed while the demand is mainly driven by speculative interests and this makes the system highly unstable. Bitcoin still maintains its objective of being a new tool to diversify the payment process in the increasingly technological world, with the characteristic of being completely decorrelated by the performance of the real economy. In reality, the highly speculative approach of these early years and the lack of clear regulatory support or guarantees for investors are slowing down this goal. Meanwhile, although it is still a deeply unstable asset, more and more banks and financial operators are offering it to their customers. Not only.
Even the Sec, the Authority of the American markets, struggles to say other "no" to the many operators who ask for it with increasing insistence to authorize the launch of ETF with underlying cryptocurrency. They has already rejected twice the proposals of a first ETF. This time, however, the US commission did not see a unanimous vote and postponed its decision to September 30th. On the other hand, many analogies with Bitcoin were seen with the bursting of the Internet bubble of 2001, from which ashes have emerged companies such as Facebook, Google or Amazon, today the international giants of the web and become champions of capitalization among the listed companies in the world.
I afraid to hold bitcoin because of its volatility. And because of its fee one day Altcoins will surpass bitcoin.
Yes my friend, but i do not see this day will be soon...
It may be both. It is important to make a clear difference between actual cryptocurrencies and blockchain technology.
Blockchain technology will prevail, actual cryptocurrencies may not. I am not sure if a cryptocurrency not controlled by neither goverments nor banks will keep being used for legal transactions.
I hope that your tought will be right, because now we are under control of bank and goverments...
I think a bubble will burst but not yet. What we are seeing ( I hope ) is one last chance for us late bloomers to crypto to get in at a cheap price and make bank.
I do believe a bubble will come and lots of alt-coins will be left being worth next to nothing. Millionaires will be made and lots of tears will flow.
Yes my friend, this is my worry, that we will finally remain only with our tears...:(((
Well, it seems to me that bitcoin takes a while with a rather volatile behavior that makes it a risk for those who invest in it, some economists say that if you want to be a millionaire from here to the next 5 years it is best to invest in cryptocurrencies, while that others say that it is a big scam and that at any moment everything is going to fall. Each one will make the best decision for himself.
Dear my friend, nobody know what will happen in the future, but is true that crypto is not a joke, over 200 billions dollars of fiat money exchanged into crypto are very huge money, so we must consider it, but all is in the hand of Bitcoin, which is the crypto boss and keep the market alive, so if it will crash, i am sure all crypto will collapse...:(((
To listen to the audio version of this article click on the play image.
![](https://steemitimages.com/640x0/https://s18.postimg.org/51o0kpijd/play200x46.png)
Brought to you by @tts. If you find it useful please consider upvoting this reply.
So helpful and informative update @intellihandling
Thank you my friend, but i asked your opinion too, do you think crypto is similar bubble of internet on 2000's?
I think, it may be possible...@intellihandling
Fortunes were lost, and the American economy started to slip down a slow mudslide that would end up in full-on recession.
Thank you my friend, but i asked your opinion too, do you think crypto is similar bubble of internet on 2000's?
Wonderful review @intellihandling
Thank you my friend, but i asked your opinion too, do you think crypto is similar bubble of internet on 2000's?
I think, BTC will come back again within the end of the year ..
Dear my friend, i think BTC is the only reliable crypto with Steem and Waves, all the rest is shit, what do you think?
Esperemos que no explote una burbuja, sera muy lamentable para los que han inverido, un abrazo @intellihandling