Hi everyone!
Just wondering what everyone's opinions are on what's needed for Bitcoin to recover and another bull run to occur? I'm very bullish in the long term but I personally don't see a recovery happening in the near future (although I might be wrong!).
There's so many ICO's and random crap projects popping up left right and centre. I really think this is sapping money from the market - money that could be going into large cap coins such as Bitcoin to drive the market forward.
Will institutional money come in? It's something I've seen thrown around but I feel most people don't even know what that means.
I think we're going to have to go to the depths of hell in order to get a super strong bounce to move forward ($5K mark........maybe $4K mark).
Hmmmmm anyways hope everyone's holding in there!! This bear market feels like its gone on a century already
Just wondering what everyone's opinions are on what's needed for Bitcoin to recover and another bull run to occur? I'm very bullish in the long term but I personally don't see a recovery happening in the near future (although I might be wrong!).
There's so many ICO's and random crap projects popping up left right and centre. I really think this is sapping money from the market - money that could be going into large cap coins such as Bitcoin to drive the market forward.
Will institutional money come in? It's something I've seen thrown around but I feel most people don't even know what that means.
I think we're going to have to go to the depths of hell in order to get a super strong bounce to move forward ($5K mark........maybe $4K mark).
Hmmmmm anyways hope everyone's holding in there!! This bear market feels like its gone on a century already
Like in any other investments, what cryptocurrencies need in general is TIME. Bitcoin is still on its embryonic stage despite being present in the market for 10 years. Although some might have actually benefitted from its high-volatility, we must also consider its primary use- which is the currency under the blockchain technology. This aspect is what most individuals tend to ignore since they focus more on the investment side of bitcoin but they are missing out unparalleled security! If countries start to adapt and embrace this kind of technology, this may benefit them in terms of eliminating the need of TRUST from intermediaries.
Another thing (on the investment perspective), bitcoin needs acceptance and legalization among hegemonic countries so that its development and widespread may be known to most investors- ultimately increasing its price on the market. Countries tend to prohibit the use of such due to lack of regulation of any government entity. If these problems are addressed, then we might see the future utilizing this as a form of currency.