While I am writing this Bitcoin is sitting under $14k
It has been a great year for Bitcoin and cryptos in general. Even with half of the price if you have bought BTC at the beginning of the year you would be sitting on a massive profit. So how is going to look 2018?
A lot of people are asking me this question everyday. There is a massive difference this year compared to 2017, it is called MEDIA REACH. Bitcoin is trending on Netflix (check out Banking in Bitcoin), you can hear people talking in a coffee shop, definitely, it is much more spread among the common daily topics.
Is this good or not? A day like this where altcoins are double-digit growth and Bitcoin is flat you start to look at the technology itself.
As my nickname says, I love to ask myself why we do what we do. There is definitely a large influx of young money coming to the market, even with very little knowledge about the blockchain. This definitely brought the price where it is now, but the value of the coin is based on the blockchain itself.
At the moment Bitcoin is slow and expensive, sometimes is getting close to Western Union. People will realize that. A lot of people are already selling today scared that a massive exodus will happen. Bitcoin as a store of value will not work, why? Because the white paper that everybody loved is saying clearly : "Peer to Peer Cash".
Bitcoin Cash can be the answer but it is still not massively approved by the majority. The rise of XRP is an answer to the blockchain even if I don't own and support Ripple as a project.
I don't think that Lightning Network will save the Bitcoin scalability issue, at this very moment I am holding my positions but I am also aware that the word HODL will probably not work for me for long term.
What are your thoughts on the situation?
I wish you an amazing Crypto year!!