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RE: Lots of issues with Bitcoin Gold - no replay protection
I think bitcoin price is coming down because it just skyrocketed over the past few weeks, too fast for sustainability, and it's simply blowing off some necessary steam. I personally don't think the price is falling due to BTG disappointment, but more so just leveling off to consolidate. I think it's shown some great price stability overall since mid-July. Any correction is fine if we zoom out and look long term as a holder.
You know, Bitcoin is so small that it's almost unimaginable. People say things like "Bitcoin is bigger than Goldman Sachs and Nike now!"
But remember, Bitcoin is not a company. It's a CURRENCY. It's still 80 times smaller than the gold market. It's owned by only 0,2% of the world population.
I don't think we will see a leveling off in prices before at least 10x these prices. At 50-70,000$ we could and should begin to see some stability. Right now the prices and volumes are so low that any rich person can manipulate the market.
50,000 might sound a lot, but that is just a 10x increase. It could be done in a few years, or even less as interest is exponential.
Thanks for this quality reply. I know what you mean and agree. I was just speaking to leveling off for the very short term before the next leg up as adoption and confidence continues to grow, where a bank CEO's bashing does less and less harm as they start to panic.
Once forking season is out of the way, there will be less drama and more focus on the market leader. Getting BTC and ETH ETFs will also help things stabilize regardless of price in my opinion, but I'm desensitized to the price movements these days and solely care about how many units I'm holding. Fiat price will be outdated in time. Breaking out of that bad habit was the best thing for me mentally and even physically as my balances made some violent moves this spring/summer.