How Low Can You Go?
Hello Steemians, I have a quick question for everybody here:
How low can you go?
With Crypto currencies falling across the board I am curious as to which coins people are holding and what price (USD) you would sell off at? If BTC hits $2000 will you sell? What if it hits $200?
Clearly blockchain technology isn't going anywhere anytime soon (we're just getting started baby!) but will any of the current crypto-currencies be around in ten years? It wouldn't take long for Bitcoin to go from $5000 to $2000 and then to practically $0, a reality that so many people seem unwilling to consider (until it's too late) and I suspect most people are nowhere near prepared for. Of all the cryptos out there, a handful (if that) will survive the next ten years.
I think that similar to the dotcom bubble, we are going to see major players emerge as the winners and the rest will crash and burn (along will billions of dollars). Major companies such as exchanges, miners and other services will be acquired by larger companies who lobby the government to create strict regulations, keeping only a handful of currencies in circulation (the ones theyare invested in). Coins that operate solely in the black-market (and/or anonymously) will not be accepted by any major institutions, only ones approved by the government will be accepted. With the recent crypto projects by Venezuela and the Marshal Islands, it's safe to say governments are starting to consider making their own. WHEN this happens it will be game over for most coins.
Let me know what you think below, there is no better community to get information about crypto-currencies from than Steemit, so please leave a comment!
With great powers, come great responsibilities
Keep Steemin'
We only have Bitconnect to thank for that one.
The crypto-world has been hit with one piece of bad news after another. I can't imagine what it is like for people holding hundreds of thousands of dollars in crypto. Bitconnect was a big ponzi and there are so many other scams out there that the whole industry is at risk of a serious crackdown.
Its one of the wirst times in crypto markets. I cant but think about those whose only means of earning is through these cryptos. When are these coins gonna be able to force their way outta the downtrend?
The only goodnews about this is that the steem power is getting higher as the steem rate is falling. That means we can be powering up. But how about other blockchains?
I personally expect further bloodshed ahead... no idea how low it can go, why not another 70%, how is the current market cap justified? your comparison with the dotcom era is a good one, 1.0 style static concepts will disappear and flexible concepts prosper.
The million dollar question is who will be the winners and who will be the losers?
Hey, Do you think its worth it to HODL Bitcoin at the moment? Followed you too
I have no idea, personally I don't think Bitcoin itself is very promising. Even though the prices are super low I don't think anyone should buy bitcoin until we have a better idea of what regulations are going to look like in a couple years time. I still think the price is mostly speculation on what people think BTC will become - but there are other coins that work better as currency (like STEEM!!). I can't give investment advice but If you aren't prepared to lose your investment you probably shouldn't be in crypto lmao