Author Topic: Bitcoin gone?  (Read 28 times)

Offline Bob von Crypto Karma

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Bitcoin gone?
« on: December 30, 2017, 08:05:55 PM »
There are many people who think Bitcoin is gone.
Yet they forget that it was only in late November that we wondered if Bitcoin could get to $10,000 by Christmas.
It then shot up and hit $20,000 in the week before Christmas before falling back over the next two weeks.

There are a few points to make...
Bitcoin was always going to go down over the festive season as people took some of the profits they had made and spent them on their family. It is also a time of year when people have their focus elsewhere.

But in the run up to Christmas we also saw the sudden increase in Bitcoin transaction fees and  I think that stunned some people. After all, you can't have the supposed King of Cryptos struggling to keep up with the demand when  it was once viewed as a global currency.
I reckon there are a number of investors who had taken a step back to think about the future of Bitcoin.

What do you think?




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Offline Amrit

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Re: Bitcoin gone?
« Reply #1 on: December 31, 2017, 02:16:22 AM »
Why are you so sure of that?  Bitcoin will eventually crash down, maybe not this year, maybe not next year - but it will - then we'll either forget about it's existence or it will remain steady at a certain value that definietly isn't $20000. Or maybe - the circle will repeat again. Doubt.

What exactly is Bitcoin backed by?

Offline Bob von Crypto Karma

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Re: Bitcoin gone?
« Reply #2 on: December 31, 2017, 02:18:35 AM »
Bitcoin has an interesting history.
Two times over the last 5 years Bitcoin price has plunged 90% or more. Most people thought at those times that Bitcoin was gone.
Once it was $29 and then dropped to $2.
I wonder how many people then thought it would one day hit $20,000? Not many I dont think. lol
I look forward to seeing what happens the next few weeks.
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