Yes, I’m sure it will crash, in 100 years we will surely have another form of currency – maybe two or three times more efficient and innovative than Bitcoin.

However, if you refer to the closer future, the most important test will be this month (November 2017) during the hard fork, known as Segwit2X. If the fork is conducted successfully and there is a clear winner, for example the fork supporters or original Bitcoin supporters, then its price (or the price of the after-fork coin) will explode, as people will see no more barriers. They will invest with more confidence.

Another remark I want make is referred to the last word from your question – how can Bitcoin crash again? Did it crash at some point in its history?

I guess you refer to the recent price drop that happened amid China’s ban on ICOs and local exchanges. Bitcoin fell from $4800 to $3000 in a few weeks. Do you call it a crash? Well, given the super-high volatility of Bitcoin and cryptocurrencies in general, I would call it a manifestation of its typical volatility – call it a market correction – that was not a crash for me. If it would happen with the stock market – then yes, a 25% drop is surely something like a crash. When it comes to Bitcoin, it never really crashed.

Based on these judgements, if you ask if there will be another correction in Bitcoin, then I would say yes – sure there will be – this is how the markets work, they are cyclical. There will be a correction, then a rally, another correction, and so on. It all depends on fundamentals – Bitcoin is slowly adopted: some regulators will announce green light for Bitcoin – people are investing in it all of a sudden/other regulators will announce that they ban it – people are getting rid of it. These will be short and cyclical events – nothing will stay in a straight line.

Check this Bitcoin chart as of today – it may reveal the cyclical movement of Bitcoin price – you might predict the upcoming corrections with it:

Anyway – the most important event is the upcoming fork.


Subscribe for New Krown Content!

Posted by Min Park

Blockchain Marketing Specialist / ICON ($42M) / MediBloc ($25M) / BOScoin ($12M) / PAXchain ($60M) / Krown Media / :0

Leave a Reply