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RE: How long will it take for Bitcoin to reach $20,000 again?
That legacy has certainly brought it far. But there were points in time when 'Atari' was synonymous with video games and AOL was synonymous with the web. I don't think that growth in the broader crypto space will inevitably prevent its collapse for long.
Hi @majes.tytyty and @demotruk, thank you for the rich discussion! I'd love to see Bitcoin climb again, not necessarily for personal investment in Bitcoin, but my investment in other coins that are following Bitcoin's trend and movement. With that said...
Right now, with cryptocurrencies being in a space of "unknown" to the general population and that some have heard the word "Bitcoin" more than "Cryptocurrency", it makes a lot of sense that Bitcoin will go up in value being the most common gateway to the crypto world.
Once that changes, however, and the paradigm shift goes in full effect, with greater amounts of crypto-educated people, Bitcoin won't be necessary especially with better coins offering high speed transactions, safer exchanges, business platforms, and little to no transactions fees.
On top of that, with bitUSD on the Bitshares DEX and USDT by Tether maintaining their ties to the US Dollar for stability in the crypto world, BTC won't be necessary for the crypto world to lean on.
I really appreciate the insight and facts you two are dialed into. Thank you for your information and I look forward to reading more!
Steem On!
I still have an Atari... ha.