Is This The Scariest Bitcoin Chart Of Them All?

Is This The Scariest Bitcoin Chart Of Them All?

Over the weekend, primarily because there was nothing else to talk about in the lead up to Christmas Day, the Western financial news media focused on Bitcoin and its apparent inability to recoup last week's losses. Although the crypto standard-bearer did manage to stage a meaningful rally off the Friday crash lows below $11,000, some commentators were surprised that it subsequently languished in a range that represented losses of between 20% and 30% from the record highs hit just prior to the
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3 thoughts on “Is This The Scariest Bitcoin Chart Of Them All?

  1. You might want to overlay Google Trends for this one as well for searches on BitCoin. It’s also declining. I’m somewhat bored of BitCoin, and given that everyone (at Christmas) was talking about BitCoin, I think we have reached maximum interest here. It’s not that interesting of an item — and my thought is that we will see lower trading volume, lower interest in Bitcoin, and fewer searches in the years to come.

    https://trends.google.com/trends/explore?q=bitcoin

    1. Not only is it the cost and time of the transaction problems – a problem, but much more so – the fact that only a fraction of a percent of those transactions are for commercial/merchandise purposes (lack of commercial adoption). Which is also a problem for Lightening offering any solution.

      That’s the main problem (lack of commercial adoption) related to the lack of a competitive private cryptos future once the speculative mania subsides – which it apparently is – that cryptos are not competitive as an commercial exchange medium, not even close.

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