The current downturn trend of cryptocurrencies can’t overshadow the fact that in September of last year Bitcoin price was less than $4,000 and any movement up now may be considered as an advancement. The Bitcoin didn’t vow to rise permanently but the growing trend it forms Bitcoin holds pretty well. Meanwhile current “cryptocurrencies winter” may drive people to some suggestions.
Analyst Trace Mayer argues that “blockchains are very resilient. Bitcoin is biggest, baddest & most resilient of them all. Look at order book depth. Not dead. ~544 days block reward will halve. Then extensible BTC will have a lower inflation rate than $gold. Hardest soundest money ever.” Tommy Mustache reminds us that
“after each of the last 4 major Bitcoin crashes (80% or more) in the past 9 years. The 2014-2016 bear market resulted in a 13,100% gain from the bottom of $150.” John Anderson says that he is tired of people claiming that Bitcoin is dead: “Unless you can sign a message using a mined block from the 2010-2011 era, your opinion is bullshit. Want to know how much I sold my first block of BTC 50 for? 3 free meal coupons from Chic-Fil-A.”
The Washington based lawyer Jake Chervinsky warns, “investors, with bitcoin trading under $4,000: Retail: “should I sell and buy back lower? should I open a short? should I just give up? is it going to zero? was this whole crypto thing a scam after all?” Institutions: “please keep selling us cheap bitcoin. thank you”.” Anthony Pompliano summarizes that “many people are dumping crypto because they are scared of the uncertainty ahead” but “uncertainty = opportunity”, adds Binance CEO Changpeng Zhao.