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In August 2017, BTC fell to a whopping $2817 per coin. In the December of the same year, BTC saw a rampant climb to a massive $19700 per coin. It was the highest of the time. From there, it slowly started descending again.
In just one year, the December of 2018, BTC was once again trading at a disappointing $3156 mark. The slogans were at the loudest - BTC IS DEAD. Just 6 months later, BTC shut them out with a new peak of around $13000.
Was this the establishment of BTC's dominance and the written-in-stone proof of crypto's reputation? Nope. March 2020, BTC is now being traded at $3700 something. Another massive hit to the cryptocurrency crest.
The reason I only spoke about bitcoin in the paragraphs above, is two folds. One, simply because BTC is the mascot of the cryptocurrency universe. It defines what cryptocurrency is to normies and carries the value f the cryptoverse, in whole.
Over time, mainstream news and financial experts alike, have criticized the entire idea of cryptocurrency. Some have even gone as far as establishing a brand of their testament against bitcoin and its existence.
Second, a more controversial statement, the entire cryptoverse is still, somehow, pegged to bitcoin. When the bull run begins, the alt market follows BTC's patterns. When the bear run is ongoing, they still do the same. Countless theories about how the money trickles from BTC to major alts to minor alts have already been established.
So, yes. Bitcoin is still the leader at the round table of cryptos. However, we may soon be seeing a shift in power. Or not.
In recent days, BTC has been given a solid one by many companies adopting it. More and more companies have started taking an interest in the digital coin, as well as governments trying their best to get with it. However, with an inevitable equity market crash in the near future, it is becoming obvious that the ripples will be felt in the crypto market. Starting with BTC.
Once the positions of bigger investors in the equity market start shaking amid the downfall, the support to their margins will be coming from the so-called "unreliable" or easy to liquidate options such as gold and BTC. Once that happens, the underlings and underdogs of the cryptoverse will come crashing with it all.
We have seen similar situations in the past. Look at the graphs, news, and join the dots. The picture is crystal clear. With more establishments and fortune500 companies invested in BTC, it is more likely than ever to repeat on a bigger scale.
However, this puts someone like me in a very good position to buy. Crypto is for believers and those with strong hands. The miserable downtrends are temporary to us. While normies relish when the market is red and keep pushing their "I told you so" and "The crash was inevitable", they fail to see the big picture.
Many normies believe in the power of crypto hodlers shilling and trust in the coins that give it the value, and they are right. They however fail to see the broken fiat system and fail to recognize the next step of currency evolution. The daily technological advancements that new crypto protocols provide to pave the future are enormous.
If you are a believer then the fire of the crash is the best feeling for you. It is like when the ants start working tediously day and night to gather resources for the cold winter. Except, we do it in the crypto winter and enjoy the fruits of buying and holding in the crypto summers.