Hello Friends,
Its no news that bitcoins is currently crashing down in price and taking the whole cryptocurrency market with it...all this much bloodbath cause by some bitcoins whales selling off!? Wow!
Sounds pathetic to me though!
To be really honest don't like to talk much in this mannner because personally, I am more into (Old generation) O.G coins & Altcoins more than than i do butcoins. As a Fact i believe some day soon one coin will come up to gain domaninace than bitcoins, in fact, just one massive break in one real life applications for some current O.G coins and bitcoins will be in a second place...so for me using bitcoins as a yardstick for measuring the strength and resilience of the cryptocurrency market, for me is very unreasonable.
In the real sense bitcoins was running on borrowed value, its real value shouldn't be more than $3000-$5000 in the real sense of things... And now that the people eyes have cleared after the recents and continuous dip...its finally returning to its proper value, and that is good for me. I don't have bitcoins as a coin in my profolio, but all my investment are in reliable O.G and Alt coins.
The Cryptocurrency market will have it real break when the market stops relying so much on bitcoins...its gives power to a few deep pockets to manipulate things easily which should not be in a so-called decentralized system.
cryptocurrency for now is just 30%/decentralized and until that level gets to 70% things won't blow out massively, and the faster way to get there is for whales to dump massively and the masses to buy back massively which will result in a well decentralized market.
that is the real goal cryptocurrency
these are my analysis, I STAND TO BE WISELY CORRECTED though.
