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Bitcoin (BTC), Cryptocurrency-With the crypto market continuing to slide in December, with Bitcoin and altcoins reaching the new relative minimum for the year, the tone surrounding the cryptocurrency industry has made a decisive shift towards the negative. While cryptography, particularly the investment landscape, has become a boxing bag throughout the year, with the bear market extending into the last month of 2018, the situation has never been seen as terrible as what has emerged in recent weeks.
Traditional and financial media like Bloomberg and CNBC have regularly covered market changes, but are starting to take an almost happy interest in the end of Bitcoin and cryptocurrency. From here the language has passed to the digital asset "I told you" to personal attacks on investors, with attackers positioning themselves on a false pedestal of authority. However, while these outlets are justified in their criticism and report of the continued decline in prices for the crypt, they eventually contribute to the number one problem that afflicts industry: an unceasing focus on price movement, forecasts of prices and the 24-hour cycle of trading in crypto-and the investor and the average enthusiast is so much to blame.
The cryptocurrency is in freefall for the main reason that expectations have exceeded the realistic performance, with the money paid in the industry throughout 2017 and the beginning of this year has been an exponential reflection of this disconnection. While many have found novelty in the use of Bitcoin as an alternative form for digital transactions, value retention and other asset protection, the limits of technology have not been able to meet users' expectations.
When transaction fees and waiting times for BTC skyrocketed in the first month of 2018, newcomers to Crypto were left scratching their heads at the clamor they had bought. The result was just one aspect of the uncertainty introduced into the market that led to collapse, like a house of cards, which was built on a series of shaky propositions. For one, the media had flooded the audience with stories of nightly millionaires – and billionaires – minted with Bitcoin and cryptocurrency, a narrative that investors were too eager to buy with coin prices by increasing by four percentage points in the year.
Once again, expectations and speculations have created swollen market conditions that in no way could have been reasonable for the current level of adoption and advancement of technology. It would be like saying that the pre -dot.com websites deserved the same evaluation and the same predictions of today's panorama for Google and Facebook.
However, the biggest failure in favor of cryptocurrency advocates came in the form of allowing technology to be hijacked by price emphasis. When the Vitalik Buterin of Ethereum did the Request that all centralized exchanges should burn in hell, he was partly criticizing an industry that is prone to speculate on prices, driven by investor activity in return. Few seek to delve into the depth of cryptocurrency, the levels of technology and the implications for the world that go beyond "digital money".
Since Bitcoin has been declared dead hundreds of times before, it is difficult for anyone to correctly predict that this is the ultimate end for the cryptocurrency number one by capitalization. However, if there is a path to cryptocurrency, it is not just a question of zeroing market prices, but of investor and user expectations, with an emphasis on the use of the building for technology. that exceeds the value.
