Four months ago, Bitcoin had almost touched the $10,000 milestone. But since reaching a peak of $ 840 billion in early January, the market has plummeted to 70% and is not recovered since. All efforts are meaningless as the total market capitalization is still sliding down from the peak of $ 500 billion. However, Increased in crypto price now and crypto maket value of 22.2%.
you are looking at everything wrong here.
first of all you may think you mean something when you report total market cap but you really don't make sense, you are just reporting a meaningless number.
as for bitcoin price another way to look at it instead of calling it "not recovered yet" is that last year price was $1000 and now it is $8000 and it is still rising strong!
Quote
What right in the past doesnt right in the future. But it seems to be right in Bitcoin case. The average downtrend of this Coin is 71 days and the market, as the cycle returns, witness an uptrend.
there isn't really any cycles. there may be coincidences where some recoveries take that long but there is no fixed length for it.Quote
Still, Cryptocurrency will still an important field whether we can reach $ 1 trillion this year or not.
again with the market cap?yes it may reach $1 trillion or even $100000000 trillion based on the way shitcoins are being created.
as a quick example imagine a premined shitcoin with 100 billion coins is released and pumped to $1 (12500 satoshi) that increases the total market cap by $100 billion in a blinking of an eye. have 10 of these and you increase it by $1 trillion. easy peasy
Quote
At your point of view, Does Bitcoin have a chance?
why wouldn't it?it always baffles me that every time price drops people start asking this type of question as if they forget what bitcoin is if its price drops and remember it when price is rising!