| spurgeonryan said: https://www.google.com/amp/s/www.forbes.com/sites/cbovaird/2018/01/17/analysts-bitcoins-sharp-decline-a-temporary-pullback/amp/ I think unless some big countries start banning bitcoin it will go up again |
"Iqbal Gandham, UK managing director at eToro, offered a similar take, emphasizing that "The market has corrected several times in 2017."
"This falls looks extreme because of the short time frame, but there is nothing fundamental wrong with the technology and the concept," added Gandham. "
There is nothing fundamental about crypto, period. Block-chain is an interesting technology, but there is almost nothing there to support a $500bn valuation.
Pretty much everyone else quoted is high on their own supply. A guy from "CryptoCompare" thinks crypto is here to stay. You don't say? The co-founder of "Apex-Token Fund" thinks this is a grrrreat buying opportunity!
Crypto currency probably has a lot of innate value, but how much of it's current market cap is driven by people who don't actually believe that value and just want a get rich quick scheme? I'm willing to guess; a lot. Even the so-called experts have no idea what they're talking about.
I sincerely hope that everyone buying and selling crypto gets as rich as they possibly could imagine. I'm dancing with the girl who brought me, though. (equities)
