The test for resilience?
I saw an interesting tweet that made me think that things are not at the edge of downfall, and think of previous dips and the resilience showed by Bitcoin. Back in the end of 2013, bitcoin lost almost 80% of the value from 1280 to 250, in 14 months. But nonetheless it became strong again increasing its adaption and value after that. There where some small dips relative to the current one here and there but bitcoin and other coins managed to be resilient and come off strong after those dips. The current one seems big in the recent years and making people fear that it may be a bubble and we at the end of it. Its just a test for resilience.
Bitcoin will always be a bubble and it doesn't matter
Bitcoin's price is necessarily not the indication of its adaptation and the potential to revolutionize financial systems. Its a parameter of sentiment and that is now increasingly variable because of the people in it of various levels of financial market speculation experience. And also there is a tendency of get-rich-quick, greed and fear that makes it more volatile. The bubble of bitcoin would be consistently creating and bursting in the swings of its price. But the concept of bitcoin is never a bubble. I think the world in the future will crave for a free decentralized financial systems and many other decentralization instances through out many industries. So bitcoin and other alt-coins are not going anywhere and they would attract more adaption and potential intrinsic value.
Redistribution of money after a dip?
There were a lot of projects with just a white paper that managed to get to even 10 Billion market capital in case of one. In the current dip there may come the opportunity for the cleansing of the projects in the space. In the recovery of the dip the money flow in to potential projects learning from the mistakes of the past. May be this good for us.
If you are holder of any cryptocurrency don't see it as a way to get rich quick scheme. This is revolution for freedom, transparency, and democracy in pretty much everything we do. So come here as for a revolution and keep up the good fight. Its easy to believe anything on its good day, but on a bad day we see the real believers.