I don't like giving @Hark_The_Sound_2010 credit.
Bitcoin
- Thread starter TarHeelNation11
- Start date
It's not time to panic. This is a righting of the value for bitcoin. I believe I stated earlier in this thread it was going to correct itself at some point and it has. It was too soon for $15k and $20k btc to be stable prices for a long period of time. I think $8k is about right and it may even dip below that some as countries figure out how to handle it and the blockchain network issues get worked out.
Ethereum is doing very well as are other cryptos. And if Ethereum Raiden network beats Bitcoins Lightning network to the punch then watch out as it could position Ethereum to be king of the cryptos in the near future.
A year ago btc was below $1,000 so it's not hard to believe there will be ups and downs. Frankly I quit buying btc when it went above 5k last year. And the majority of what I bought was in the $400-500 range. All I have done since the summer is sell them and convert some of them to other crypto-currencies. I still have a coins left but I'm not even sweating them and am letting those guys ride if and until the price drops below $5k or if Ethereum beats btc to market with their new, faster network.
With that said, I still think the end-game for crypto is in its network and distributed data technology and how it can be put to use in other areas and businesses. Once it ceases to be valuable as a trading currency then hopefully it will get back to its intended purpose; facilitating fair and reliably accountable exchange for transacting parties. Then we can focus on the tech and its potential uses a little better.
