At time of writing, Bitcoin has lost nearly 50% value from its all-time high. The entire crypto-market has lost double digit value in just 2 days. But what has changed? From a technology point of view; Nothing. Has the market changed? Yes. But I’m not a stock broker and I’m not a financial adviser. So, I can’t really give a valued opinion on why or what is causing the massive sell off. Sure I can speculate, but that just adds noise to the conversation.
What I do know is technology, I have a passion for it. So, what has changed about the blockchain ecosystem that could be affecting the market? Nothing. Let me say that again, nothing. Bitcoin still functions the same. Litecoin hasn’t changed. Bitcoin Cash has not changed. The Cardano team is still building one of the best platforms I’ve seen (read their papers.) They are hitting all the right cords and their road-map is great! The Lightning network is still pushing forward. Sia is still developing a great decentralized storage platform. Entherum’s founder Vitalik Buterin quit his VC job is is now 100% dedicated to the technology. And every other notable blockchain company is still pushing forward.
So am I worried about the huge drop. No.
Does it suck to see such a dramatic fall in my coin portfolio. Of course.
Did I expect it such a roller coaster ride? Yes. With the underlying technology being so new and growing so fast how couldn’t you not expect such a ride too?
