The price is nothing but down, down, down. it is not manipulation but just ppl dumping at every opportunity, like bank stocks in 2007-2008 or dotcom stocks in 2000-2002. Would not want to own this.
https://www.lookintobitcoin.com/charts/bitcoin-logarithmic-g...
Bitcoin has no CEO or accountants.
It has also gone up A LOT more than Enron did over a much longer timespan.
How can you look at the log chart and think BTC is “going to zero”?
Because eventually it will be worthless. Your return on investment is entirely predicated by how much demand there is for Bitcoin; currently it's pretty high, correlating with media attention and whatnot. This is just about the highest demand we'll see for it though, the future of all crypto obviously hinges on practical applications, which venture capitalists with unlimited resources have struggled to define.
HODL what you please, but I'd really like to hear the logic behind how people think that Bitcoin can survive an inevitable crash.
It crashed 70-80% in 2018
And then later went way above the 2017 peak.
It is not guaranteed to recover, but it is FAR from certain that it won’t, and history suggests it will recover
As the great Andreas Antonopoulos said, everyone gets the Bitcoin price they deserve.
It’s down down down if you entered at a high price AND sold within 3yrs
No one who held BTC for 3-4 yrs straight has lost money on their investment throughout the entire history of BTC
There will be a point in time where this won’t be true anymore, but I think we are far from it
Someone has to pay for all the Bitcoin mining around the world, so it's probable that Bitcoin as a whole is net negative. That is, the average investor loses money on Bitcoin.
EDIT: let’s check back in in 1-3 yrs here and see if people who bought last year and held are doing :-)
Analogously, there are some people who have won a lot of money from casinos but the average gambler loses money because the house always wins. Miners are 'the house' for this analogy
BTC supply is growing at a rate of less than 2% now. 90% of the supply is already mined.
Miners play a very small role now in getting new supply