The Massive Bitcoin Price Drop is Good for the Market
So I have had problems with the recent rise in cryptocurrency prices as it has been leading to the inevitable, a crash. We all knew it was coming, even if we tried to denie it. But I want to talk about why this whole collapse is a better thing that people realize and how we could finally have a healthy market soon.
With Bitcoin and other coins, you see that with this volatile market, we aren't seen as much as a cryptoCURRENCY and more as a cryptoASSET. Now with this increased public recognition, cryto rises in price. But after public interest wears, the price once again drops. Now we all hate to watch our money devalue, but remember that this will help to stablize us and hopefully our money will soon become reliable.
Now what has been interesting however is that we really did need this massive bubble more that people realize. We needed the public to once again become interested in Bitcoin, and we need to grow as a community because a stagnat community with no new members will most definitely die. So remember that even though your money may be devaluing rapidly, it will soon be more valuable that ever when we have a stable economy based on real value and not trend.
yea the correction was due and i'm kinda glad that its happening.
Very true. Wouldn't make sense if it kept on rising as fast as it did without a crash. Thanks for sharing your insight on this :)
Interesting view. That also means some investor will back out
Nice article! If you didn't see a serious drop coming, you haven't been paying attention!
What goes up must come down. I agree and can't wait until the crypto economy stabilizes to the point where it is based on the value brought by the cryptocurrency or crypto-asset as opposed to trends or mere speculation. More than likely that will occur when there is more universal adoption by the masses - we need to keep growing as a community with new members entering by the day!
I think a correction was inevitable at this point mainly due to discussions over future forking of the chain.