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RE: Bitcoin's looking like she's in the calm before the storm... which way will she go?
You are right! Shit isn't looking too good. I for one would be really shocked if this was the end of Bitcoin! I mean, it looked like we were just getting started now with the hope to get some mass market adoption. We just wait and watch where it goes :)
It can only go down to zero but there is no upper limit ;)
If it goes down as low as some are predicting, it may never recover, but hopefully we can finally get rid of Bitcoin, and focus more on coins and tokens that have an actual purpose.
This was my calculation of worldwide probable adoption rate based on the Korean petition to the government against banning cryptos:
S. Korea has one of the highest crypto assimilation rate in the general population. They got 218,000 petitions signed. The population is 51.25 million. That means 0.425 % of the population cared enough. Lets assume that is 1/10 of the crypto users.
That still leaves us with a crypto participation rate of 4.25% of the population.
If S. Korea only has 4.25% of the people in cryptos. The world at large has to be no more than half that. And I am estimating large here.
Conclusion: we likely have no more than 2.13% of the world population in cryptos, or better said 97.87% still waiting to come into the space.
THERE IS PLENTY OF ROOM TO GROW