Let them keep on talking while Bitcoin doesn't really care about what these so-called experts are talking. Rising or falling it doesn't matter anyway, Bitcoin price is still stable at this rate. They will all be another story that will be written in the history again, Bitcoin will survive and no, it is not dying.
Doesnt't care, yeah. We are at 3 200 and going down fast. And yes, it will not die. For enthusiasts like in this forum and may be some criminals. But for most common investors it is already half dead. If it really will go below 3 000, it will be a full capitulation. And it will take 3-4 years then the price will return even to 6 000 level. Or may be it will never return..
And you could have said the same thing 4 years ago, and been dead wrong. No reason to think this is any different than any other Bitcoin crash. I'd say the only difference is that instead of having nothing on the horizon four years ago as everyone abandoned Bitcoin, this time around we have multiple Wall St firms building exchanges and custody solutions and trading desks and whatnot to offer Bitcoin to a whole new group of people that have a TON of money.
When retail investors come back to the Bitcoin market in say two years they're just gonna find it a hell of a lot harder to buy Bitcoin because big money will already have eaten up MILLIONS of bitcoin by then. Institutions have already bought up hundreds of thousands of Bitcoin from panic selling noobs this year. Smart retail investors are doing the same thing, buying as much as they can from panic selling noobs to accumulate cheap Bitcoin now.
Well, in my opinion this crash is different. Because of Wall St firms you mentioned. When it was millions of dollars, yes, there were many individuals. And many of them were believers of new tech. Others wanted to hiide their payments. They can sale because of panic, because they need fiat right now. But Wall Street is different. Today they are playing with bitcoins, tomorrow with gold and after that with some derivatives or orange juice. They can leave some market very fast (in fact, this is happening right now). For them it is just another of thousands markets. And if they lose trust in crypto, well they can return in years or decades. Another problem is adoption. Many retailers refused Bitcoin this year, even Stripe. And the worst is the world crisis that many economists predict in 2019-2020. In every crisis, such instruction investors will leave high-risk markets. It is a rule.
Im surprised that everybody if this forum are making analogies to past crashes. How many crashes Bitcoin had before? 3-4? Why everybody think that if something happened 4 times, it will be the same this time? Everybody talking of butcoin as a currency. But it is not. May be it will become a world currency and maybe not. Over the past 3 years, Bitcoin has not come close to becoming a currency, but is has become a high volatile speculative asset.