Are We Witnessing The Rise And Fall Of Bitcoin, And A New Dawn Of Cryptocurrencies?
I follow @steemcharts who has been (like others as well) predicting this fall. It has just looked bad. Low volume, no buyers, lower highs, higher lows, rejected resistance - and fundamentals not good as well. People are afraid of taxes, of being hacked, it's hard to understand how it all work, and people in general doesnt give a shit about decentralization or privacy.
Most focus has been on Bitcoin, especially in the mainstream. Focus has been on the currency aspect of crypto. Little or nothing on the decentralized nature and utlity of especially protocol tokens such as EOS, STEEM, AION, ETHEREUM, NEO etc.
As the market is falling towards the deepest dark it' seen in a while, and Bitcoin probably is going under $5000, will it ever recover? Or are they done with it? One thing is for sure - Bitcoin will not stay at $6000 or $5000 or $1000 or $20,000. With so little money invested in Bitcoin, and everything being run by whales or cartel, it's going to continue to be extremely volatile. It could go to zero or it could go to 100,000USD. It is indeed a speculative asset - but as we watch John Mcafee eat his own testicles early 2019 - could we see these protocl tokens take off completely?
I think so. I think blockchains like STEEM (which has proven itself, unlike EOS) shows how valuable these protocol tokens can be. Social media, gaming, influencers, and many more things to come. I think this is where the future lies.
Is Bitcoin dead? Who knows. Maybe. Maybe not. But I think we will see Bitcoin being dusted in 2018. I think we will see protocols leave Bitcoin behind. I think that in 2018, and perhaps all ready in the next bullrun - we will see Bitcoin fall down from number one. I predict it will be EOS that takes over.
What do you think? Is it the end of Bitcoin? Is it the end of Blockchain? Is it the end of Cryptocurrencies? Or is it simply the rise of protocols?
To the question in your title, my Magic 8-Ball says:
Hi! I'm a bot, and this answer was posted automatically. Check this post out for more information.
Why do You think EOS will take over?
In a word I'd say yes! - Bitcoin is all over - very glad I sold mine for $17k :)
And I also sold EOS because I think it's a massive scam. It may still go up, but it's foundations are dishonest and one day it will all come crashing down.
That's my opinion anyway.
What do you mean by its foundations being dishonest?
Without saying stuff that can't be mentioned on Steemit, - I'll just say the picture was intentional
Bitcoin will recover at some point. Etf and LN will get yhe ball rolling. Just needs to happen befor the stock market colapses or all that money will go to gold
no where near over, it's to early in the game. AND if anyone listen to Andrew DeSantis in any of his YouTube interviews with Vortex- EVERY alt coin is just a branch off of Bitcoin.
Great piece of work @baronvonbitcoin
I also share similar opinion about current condition in the market and Im slowly getting bullish on EOS too :)
Keep up with good work, obviously upovted
Cheers,
Piotr