In my time on BCT my opinion is that the negativity towards bitcoin is at an ATH.
The amount of threads spreading FUD and negativity are growing the longer
bitcoin fails to deliver the great expectations of some people.
It seems to me that the fact bitcoin reached $20k there are people acting like
spoiled children who demand their wants immediately and so are willing to throw
the toy out or smash the sand castle because their wills are not met now.
There are times when we need to visit the whitepaper to realise what it was all
invented for and to have patience.
https://bitcoin.org/bitcoin.pdfVery well said! A lot of new investors got into BTC during its 10x increase in price from Oct-Dec 17 to an ATH, and they are disappointed and fudding after the 60% loss of value in Jan 18 and sideways movement the 5 months since then. I prefer to look at the long term fairly steady parabolic growth of BTC the last 7 years since 2010, as you can see in this log graph I recently constructed of BTCs price from 2010 to early 2018 -
https://imgur.com/gallery/9iF3t .
And I believe that factors are positive for bitcoin to continue this long term parabolic growth for the next 7 years (recognition of BTC and interest in it by >50% of the world population, effective secure use for 8 years, 200+ dedicated developers making 6 major improvements to BTC, <1% of population currently own or use BTC which should increase to 10%+ over the next 5-10 years), which would take the value of a BTC to $1 million by early 2025 as the projection of continued parabolic growth in the log-graph shows.
But as the shorter term growth rates in the graph shows (red dots upward drowsy, green dots sideways movement of price) - there have been 5 consecutive periods since 2010 of 12-24 month periods of upward growth followed by 12-18 month periods of sideways movement of BTCs price before the next upgrowth cycle. We are currently 6 months into the 6th period of sideways movement of BTCs price since the ATH in Dec 17. History suggests the BTC price will move sideways at $8-10K until near the end of the year, before an upwards period of growth in 2019 to a new ATH of ~$50K from the long term parabolic growth line. Im sure all the current nathsayers will be changing their tune then!
I think the message with BTC should be a positive one, and that we are very early adopters of a technology that will change the world, and that there will be a big ROI over the next 5-10 years for anyone owning or buying BTC now!