Especially of the bear market, its causes, and its consequences for the employees, the commentators last week. A “shitcoin authorization” was the reason for the Price drop in Bitcoin & co.? Or the Back-and-Forth to an exchange-traded Bitcoin Fund (ETF) has caused the bear market? The expression ECHO for the calendar week 32.
Bear market “a Good feed”
For Bloomberg Intelligence, the speculation of a Bitcoin ETF is the main drive for the recent price entwicklungem on the crypto market. This have in July, the bitcoin exchange rate as compared to the other crypto-currencies are relatively strongly pushed. What it need now is more stability. Unfortunately, China is missing due to the crypto ban as an important part of the equation.
“What is needed in the highly manipulated and speculative market, buyers are focusing more on the longer term, and not a real Peer-to-Peer Electronic Cash System resist, the preferred, more stable instruments. With China, the participation is prohibited, is missing in this year an important link.“
By the ETF speculation on the bear market “good food”, which is why you should expect further rate losses.
Furthermore, it could happen to Bitcoin as the “first-born” once, from AOL:
“A main problem with Bitcoin is that it is the first-born, with a potentially similar fate as AOL. Numerous Forks, and more than 1,700 new competitors have entered in the last ten years in the Arena, around 70 per cent of them in the last two years.“
Dotcom says Hello
Comparisons with the early Internet also provides Michael Lavere of Ethereum World News. The course would show waste, that the market is entirely driven speculation. The price of fireworks from December of last year, have brought many investors into the boat, and are now trying to limit damage.
“It is understandable, when you consider that the wild price ride until the end of 2017 brings with it a host of new investors – many of whom are sitting on losses of over 50 percent, and get your return on investment or a positive Trend in terms of the massive loss of value want to find.”
Lavere looks in the speculative focus on the development of a Problem, however, is no danger for the technology as such and refers to the dot-com bubble:
“The Dotcom bubble has not managed to kill the Internet, in spite of the enormous amount of capital, it has […] flushed down the drain, because the Internet proved to be a resilient and necessary technology.”
On the Bitcoin competition is the criticism of the self-proclaimed crypto-connoisseurs Zissou aims. He sees the bear market is a logical response to a “toxic Shitcoin”. Bitcoin is the only crypto-currency, the devotion sense.
This bear market is just a rational response to the very irrationality that led to the toxic shitcoinization of crypto in the first place.
Only $BTC makes sense.
Zissou™ (@ZeusZissou) August 11, 2018
Disaster vs. Disaster
Bitcoin is still a “total Disaster”, says Matt O’brien of the Washington Post. His price instability disqualifying it as a currency:
“In the last year Bitcoin has risen by 91 per cent, in the last nine months, but by 67 percent. This is, as you can see above, why Inflation between almost -100 percent and plus 100 or 200 or even 300 percent, would alternate, if we were to measure prices in Bitcoin instead of in dollars. Exactly what you want in a currency.“
This Volatitlität to be built in Bitcoin “” – and in this unnaturally large. Blame classic market manipulation.
“But even this built-in volatility is not explained why Bitcoin has made such a roller-coaster ride. Something else has to go in front of you, and this is good, old-fashioned Manipulation.“
The Disaster would be not in Bitcoin, but rather in the reporting about him, explains Nic Carter of coinmetrics.io. In a Medium Post, the WaPo article from O’brian to serve as an example of uninformed reporting, which related to the alleged weaknesses of the Bitcoin.
“Volatility is not installed, it is a feature of every non-bound economic good. The Post should keep your fragilis table to Think for themselves. […] Manipulation might work in a period of 15 minutes, but it is simply unlikely that a Hundred-has been tampered with causing billion-U.S.-Dollar asset class.“
Carter rounds off his critique by emphasizing the potential utility of Bitcoin for the inflation-ridden countries:
“Bitcoin may be the case for Westerners, the reasonably credible monetary regimes of life, does not make sense; but it could be the Turks a good Option for Iranians, Venezuelans, Argentines, Libyans, Syrians, or Egyptians. And for anyone who has the courage of its monetary authorities.“