The massacre continues: Crypto markets in free fall!
As I described in the last post and as you all know, the crypto market is in a serious crisis. Bitcoin has temporarily lost € 1,000 in value since the fifth of September, and now is trying to find its stability at a value of 5,500 €. I had recently discussed it with lauch3d. It is idle to complain about the causes because it's too late anyway. May we should prepare ourselves for a big showdown? I have no idea!
The press rolls over with crypto-downfall scenarios. Thus, the market is even "... come to a standstill" writes futurezone and for the Handelsblatt the Bitcoin is even completely "... disappeared from the radar".
** To summarize: Same procedure as every year **
Do not forget that in November 2013 the price of Bitcoin was over 800 €. Then until summer 2015, there was a decline down to 200 €. A normal development, then? I could almost imagine that, because seriously, although we all deal here with the topic Crypto & Co.:
How many of you paying with Cryptos?
How many of you use smart contracts?
And how many of you read this post in a self-driving car right now?
Not to mention the "ordinary citizen". When asked about Cryptos, everyone is now telling you that Cryptos are a thing of the past. Something like carriages, typewriters or flogging. Of course, such assessments are just the results of a lack of information.
However, one thing I find really exciting and therefore I want to share my mind about this with you. I have already mentioned it in the last post. It's about Dogecoin. First, have a look at this screenshot here:
All the cryptos suffer heavily, but the sweet little Dogecoin is still fighting. But why? Why is Dogecoin so vital?
Dogecoin is according to Wikipedia an ordinary Coin comparable to Litecoin, but somewhat faster (1 minute instead of 2.5 minutes per transaction). The price of Dogecoin is just around half a cent. Not even a penny stock so. Further, he is with up to 100 billion coins, which should be distributed sometime, extremely inflationary. In addition, there are a few funny projects such as planned space programs or the plan to enable Jamaica to participate in the Olympic Games. Okay, all cool actions, but is this the explanation that Dogecoin is so stable and even rising? I do not think so. I have a very different theory and that is the design of Dogecoin.
Apologize for the painting. I just quickly painted the Dogecoin symbol to prevent any trouble with copyright lawyers. But just look at his confidence. The dog is the best friend of the people and this is what "Doggy" (I'll just call it that way) shows us. Will the Dogecoin eventually win, because people, which are controlled by their primal instincts and emotions, simply cannot resist this kind look?
What do you all mean? In any case, I already really like "Doggy".
Go "Doggy", go to the moon!
Have a nice week!
Best
Chapper