BITCOIN CRASHING!!! Yet another HACK ATTACK rocks cryptocurrencies!!!

The beginning of the end or the end of the beginning?

In just two hours this morning #Bitcoin fell from above $14,000 to $11,300. But given the cyber-currency is still up 1200% in a year, is this just the beginning of the fall? Since December's high Bitcoin's price has dropped more than $7,000 - in the past day alone almost $2,000 has been wiped from the price according to figures from #Coinbase. That's a fall of over 14% in a day, 20% in a week and more than 40% in the past month!

But the good news for people who believe in the future of Bitcoin is that this is a pretty classic price drop. And that there's nothing special about this drop. Every year all the crypto market drops because Asia is preparing for Chinese New Year ( Spring Festival) celebration (people buying gifts, etc.) Only this time, preparations for celebration coincided with fear, that South Korea will ban cryptocurrencies (they will not!) and another hack attack – over 400 000 of cryptocurrency Stellar Lumen was stolen, when some losers (who will end up in jail sooner or later) broke into the web-based wallet application.

So, do we sell, wait or buy? It depends, how much money you spend last year, buying gifts. If you have the same leftovers​ and don't worry about losing​ them (because you would just spend them on stupid things anyway) – it's a perfect time to buy (but this is not financial advice, only my opinion). Not only bitcoin (which according to bitcoin Nostradamus will reach $100,000 at​ the end of 2022), but some altcoins as well.

But my neighbor is a hipster, and he told me, that bitcoin is a bubble, because his grandmother asked about bitcoins. So is bitcoin a bubble?. Every now and again, people get over-excited about something and then its price takes on a life of its own. At the start of the rise more and more people look to get involved over the ​fear of missing out and then – like all bubbles – it bursts. But if the people will tell you story about Tulip Bulbs in 18th century Holland and how bitcoin is the same, please remind them, that you still can't buy a house with 1 bitcoin.

So in conclusion – yes, bitcoin price is driven by greed. Yes, this will end up badly for n00bs. But the mania for cryptocurrency could wind up building something much more important than wealth. The question is whether, after the bubble has burst, the very real promise of the blockchain can endure? As Tim Wu argued in his 2010 book, “The Master Switch,” all the major information technologies of the 20th century adhered to a similar developmental pattern, starting out as the playthings of hobbyists and researchers motivated by curiosity and community, and ending up in the hands of multinational corporations fixated on maximizing shareholder value. Wu calls this pattern the Cycle, and on the surface at least, the internet has followed the Cycle with convincing fidelity. The internet began as a hodgepodge of government-funded academic research projects and side-hustle hobbies. But 20 years after the web first crested into the popular imagination, it has produced in Google, Facebook, ​and Amazon — and indirectly, Apple — what may well be the most powerful and valuable corporations in the history of capitalism.

Interesting stuff for you to check out:

– Guide: How to buy bitcoin and exchange to other crypto using Binance
– Thank you Ripple, for my first Lamborghini!
– Perfect cryptocurrency for Twitch!
– Lexicon of crypto trading community