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RE: Bitcoin Continues to Dump Tonight

in #cryptocurrency8 years ago

For years i was active on the stock market, and now in bitcoin i see exactly the same thing. The media always broadcast positive news for a period and then negative. When negative news is broadcasted, there is no eye for the positive things. They will get totally ignored, but they happen.

We seen this in Bitcoin in the beginning of this year, when some blocks were clocked and many people started shouting that Bitcoin was dead and a failed project. The price went down and the problems disappeared, because the wallets added a small amount to the transaction fees. After this we got a bull market for months until now. Now a few negative things like the scaling meeting, a robbery and Miami's court saying bitcoin is no money is dominant in the news, but same time many positive things are happening, but is's not highlighted at the moment (think of payments with Twitter, Lightning network coming, big investors start adopting bitcoin).

In my opinion the fundamentals of Bitcoin are still very good, adoption is still growing, new applications are still created and this will go on and the current financial system in the world is still failing and it get only worse. I think the scaling issue is not a big problem and will only delay the rise of Bitcoin a little bit, the hard fork will not be needed, scaling can be done within the blocks and on top of the blockchain. Watch this:

I think the negative news will lower the bitcoin price some more and disappear again, and a new bull market will follow. This will go on for many years and one day a bitcoin will be unbelievable valuable.

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