My wife was in a Chase bank today and overheard a chase bank rep stating to a customer, that the bitcoin is NOT going to last much longer.
Especially because the bitcoin continuing to grow in value. I guess that as a result of the increase and nothing backing and/or supporting it.
That as a result it can no longer continue to exist, if I am understanding this analysis...If somehow there could be a discontinuance of the bitcoin,
how does this effect the other forms of cryptocurrencies???
Bitcoin already last long it is first traded on year 2009-2010 and we are now at year 2021 and it is still alive, if we are going to look at the price now we can say that we are too late because if we buy it on 2009 and hold till this time we will maybe a billionaire today, No one can predict the price the people who has a big patience is always a winner on crypto see the past price and simply compair it with the present price and you will see how important patience is.
In the long run, No, bitcoin will never burst but in the short term we can see 60 - 80% correction in a bear market. If anyone is investing in bitcoin for long term, he should know that this will not a straight move up. Many times if you follow the price closely, you will feel that this might be end of bitcoin, but you will always see that bitcoin recovers after every price retracement.