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Is Bitcoin Dying?

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It's way too early to say if Bitcoin is dead or not... We should take a step back and look at the big picture, maybe after few months, years we will know that. 

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People probably said Bitcoin was dead when it dropped from $31 to $2 between July - December 2011, and that fall was a lot bigger than the one we've seen recently, and over a longer time span. Bitcoin's recovered from worse crashes than this one, so I see no reason why it shouldn't recover again.

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On 2/2/2018 at 09:40, 1claire said:

Compare your prices vs last years value. It is not dying. 

you really have a point, but don't forget that some people also bought the bitcoin when the price was over $10,000

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2 minutes ago, Dboyeric said:

you really have a point, but don't forget that some people also bought the bitcoin when the price was over $10,000

Very true and I understand why they would worry IF they are day traders but if you are long term investor why even look? Let it run it's course imo.

Personally I see myself making my first million in this industry in the next 5 years. If people are not looking 5-10 years ahead in crypto i feel you're just looking for a lottery ticket and don't rly understand what's going on. This is an industry. It's going to have ups and down but it will always trend back up. I'm willing to risk my income on that bet. That's me though and i don't expect others to see it my way.

I just see lots of people losing money... if you got it at 10k you have not lost money unless you sell it. So don't sell=Don't lose money =D

Let's all remember BTC is a currency... not intended to be an investment. 90% of people in crypto don't understand that. We are not creating a new stock market we are creating new currency lol

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I'm of the opinion that the original spike in price wasn't sustainable, and was for a large part being driven by people who weren't interested in using Bitcoin as anything other than a speculative investment. The fact that the price continued rising despite a cripplingly huge mempool was a bit of a warning sign, since it suggested that most of the new money flowing into Bitcoin was only coming in because the price was rising - and not for the utility of Bitcoin.

It's unfortunate that a lot of those investors were burned by the drop...but I don't think it could have gone any other way. At least those that will remain in the end will probably be the ones who actually intend to use Bitcoin for its original purpose - as a currency. And that gives me a bit more peace of mind than the high, but wildly fluctuating price of the past months.

After all, if the price of BTC isn't at least somewhat related to its utility (especially merchant adoption, which took a major hit during the media hype), then its long-term prospects are grim, since then it really does start looking like a pyramid scheme.

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all i can say is bitcoin is not dying but for the people who invested whilst it was at the all time high are going to close that wallet and wait for the next btc rush , how ever if you purchased btc at low costs your laughing. bitcoin will rise more than you probably think but not over night

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