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Bitcoin Is Dead... Again?!?

bitcoinfloodPosted for Everyone to comment on, 5 years ago2 min read

bitcoincrash.jpg

A study out now shows that with this market drop of 75% to 90% has a hard pressed dang I got screwed over rate that is larger then ever before.

It is clear that more people bought into bitcoin last year then any previous year. However that buying rate only seemed to be at 15% max but most likely is much lower around the 5% range.

What this has now done is yet again created a mentality we have seen at least twice with bitcoin over the last few years.

That mentality being "bitcoin is dead" "cryptocurrency is ponzi" etc.

We hear this ever about 2 years when the markets dip down 90% and then we kind of hover there for a few months as it slowly begins to build up. During that slow build up large investors seem to buy the bulk of bitcoin and then sit on it for a year selling it at massive gains.

There really is no scamming here this same stuff happens in the stock markets and with your 401k which you have no control over.

People react on emotion and react to late. So perhaps this is a wake up call that if your in for a 1 year + holding now might be one of the best times ever.

Sure the price very well could go down more and I have a feeling we will see 3k to 2.5k before we start to see the bottom and that in large part is fueled by bitcoin cash mining wars that are legit just draining the system of money.

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