Bitcoin and other crypto coins: Is this the beginning of the end?

[btaliat]

Two years ago, the only way of making money that was trending was crypto. There was nobody that was not hooked with the fact that crypto can make one a million overnight. There may be many reasons for this but the salient one is the lockdown theory that postulated that there was a hike in the price as a result of lockdown.

A year after, it seems crypto has lost its glory. People don't even want to talk much about it. There are sometimes when I won't even check my portfolio nor even check the current news on crypto. In fact, not only me has this feeling. People started losing interest in crypto when the bearish market set in last year April. This made people to lose much interest in it as a result of heavy loss.

Apart from last year November when there was ATH in the price of Bitcoin which makes it to surge to over $65000, there has been declined in its price making it to revolve round &38000 and &42000. Many has attributed the decline to the fact that NFT is a tougher competition for it. Some even attribute it to the fact the war between Russia and Ukraine caused it.

Is the end of the bitcoin and other crypto?

 

[Suba]

In my opinion, the Bitcoin price correction is still reasonable, there are lots of crypto investors who sell Bitcoin because of FOMO, there are also many fundamental factors that affect the price of Bitcoin, such as the effect of high tax rates so that it will be difficult for them to make a profit. also the trick of the whales to sell Bitcoin in large quantities so that the price of Bitcoin falls and retail investors are also influenced to sell their Bitcoin, so that the price of Bitcoin is falling further down, at that time whales can buy Bitcoin at a cheap price. so the most important thing is that we are not influenced to sell the Bitcoins that we have.

 

[MarkRobins]

Two years ago, the only way of making money that was trending was crypto. There was nobody that was not hooked with the fact that crypto can make one a million overnight. There may be many reasons for this but the salient one is the lockdown theory that postulated that there was a hike in the price as a result of lockdown.

A year after, it seems crypto has lost its glory. People don't even want to talk much about it. There are sometimes when I won't even check my portfolio nor even check the current news on crypto. In fact, not only me has this feeling. People started losing interest in crypto when the bearish market set in last year April. This made people to lose much interest in it as a result of heavy loss.

Apart from last year November when there was ATH in the price of Bitcoin which makes it to surge to over $65000, there has been declined in its price making it to revolve round &38000 and &42000. Many has attributed the decline to the fact that NFT is a tougher competition for it. Some even attribute it to the fact the war between Russia and Ukraine caused it.

Is the end of the bitcoin and other crypto?

Not only crypto has dropped in price but also fiat as well, so I don't think that this is going to be the end of crypto world or bitcoin in particular.
It is better to think about the ways in which you can make profits from the current situation.

 

[Mika]

Bitcoin is not something that was created out of thin air. Bitcoin is a product of blockchain and cryptography and these technologies can never obsolete. We talk about metaverse, we talk about web 3, we talk about digital economy/finance. If there was no blockchain and bitcoin, things like these would have never been possible. The only major concern over bitcoin is the use of energy in mining. A lot of companies are already using green energy for mining. Even though a large percentage of mining activities use coal energy, this is also a temporary situation because once 21 million bitcoins will be mined, there will be no mining activity and hence nobody has to complain about the environmental cost of bitcoin mining. I think a lot of cryptos were created just for making money for the developers, we also have a lot of crypto projects that provide real value to the economy.

 

[captainKazoo]

The current situation of the crypto market is surely giving us some major reasons to doubt. But when we can expect the same downward movements from other instruments, why can’t cryptocurrencies behave in the same manner? They are volatile and hence, will move up and down.