What is Happening with Bitcoin?

Bitcoin Weekly Chart

First, let me make it clear, I’m a Bitcoin maximalist and what I say represents my thoughts about Bitcoin so if you are a shitcoin believer please stop reading here.

Bitcoin is crashing again and it wasn’t something unexpected, anything that goes up will come down, is it true?

Lots of people jumped in Bitcoin at 2017 in hope of becoming rich and enjoying a better life but as you might already know life doesn’t work like that.

Bitcoin price against fiat currencies and specifically USD is how most of those who bought Bitcoin blindly without understanding it, value it instead of thinking about how much of 21 million Bitcoin they have accumulated which is how I think.

Now let’s come to what you are interested in, Price.

The Bitcoin price is crashing hard against fiat and it’s all 2014-2015 again, the crash started in December of 2017 and it still continues, up to where? no one knows.

Despite the Bitcoin fundamentals being very strong since mining the first block which most people don’t pay any attention at all the price isn’t co-operating with fundamentals.

As a clue for Bitcoin fundamentals being strong please check out all the new things that core developers are working and how fast lightning is getting better and bigger day by day.

Source 1ml.com

Finally, we are seeing a real working solution for scaling Bitcoin.

Then why is price crashing?

There are different reasons people point out but what I think is the way Bitcoin rallied in 2017, actually except 2016 halving there was no other reason for Bitcoin to go that high and if there was please let me know.

Most of the Bitcoin value was coming from those people who bought it because of the false hopes they had about Bitcoin and that magic alien’s tech Blockchain (It can solve any problem!).

Now its crashing and I think we will have at least 2 years of boring price years which will be much similar to 2014-2015 and we will not see much in price side of Bitcoin.

When Bitcoin crashed on 2014 the total crash amount in term of percentage was 87% of total Bitcoin value:

Bitcoin 2014-2015 Crash

So if Bitcoin is going to follow the previous crash it should fell somewhere around 2500.

What I recommend you to do is go read about Bitcoin instead of putting your hard earned money on a very risky and volatile asset like Bitcoin.

Once you had enough knowledge about how Bitcoin works and why it should work then you can decide to buy it or not.

I wish we get rid of all those useless alts from Litecoin to Ethereum during this crash and then people will understand what a huge mistake they made by buying those tokens.

You might lost lots of money but think in another way, how much you learned?

 

Ahmad Noman Musleh

I'm a trader, programmer, and a Bitcoin enthusiast
I don't trade manually much but when I do I get long-term positions
Ahmad Noman Musleh

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