SOoooo do you think we are witnessing this in progress? with the indian Governament down talking bitcoin recently as well as the South Korean government making anonomus accounts illegal and threating to close exchanges are people spooked off and are we starting to see the death spiral down to oblivion like Silver @ $50
This Silver @$50 comparison is a bit misleading, considering it was the Hunt brothers trying to corner the market that led it's rise to that level. And as for a "Death Spiral" it was only 60 or so day's ago the price of BTC was $6500 or there abouts'. Anybody who bought BTC Waaaay back then is still up over 100% on their buy right now.
the hunt borthers was in the 80's and not what I was reerring to as silver @ $50 was also in 2011 when the hunt borthers were long forgotten about
The decline of BTC will be caused by its technical shortcomings, not any external threats which are applicable to all cryptos.
I dont think many ppl care about governments threatening anything about bitcoin, nobody is talking about that..... The general consensus is that bitcoin is slow and expensive to transfer plus the alt coins are all the craze, everyone is trading wanting to catch the next wave.... One announcement or implementation of lightning network or anything to fix bitcoin scaling issues and everyone will be like 'shut up and take my under performing altcoins/fiat'
O.K Fair enough, even then though you are still comparing an historical perceived bubble with a currently perceived one. IE: no one knew it at the time and no-one knows if there is one now either.
bitcoin has been dead so many times, technical shortcomings? name another processing more transactions?
