Source: Pexels — License: Public Domain
About a month ago I predicted that Bitcoin was probably going to do something given that it had stayed between 6k and 8k for a fair amount of time. Well, guess I was wrong. However, not only was I wrong, but I am actually kind of surprised with Bitcoin’s stability lately. And remember that stability is good.
Stability in a new market is usually a sign of maturity. Who would want to invest into something which may not have half it’s value that it did a month ago (well, obviously day traders who take calculated risks, but not a large portion of the public). As the market matures Bitcoin will have much more functionality in regards to being a medium to transfer value and less of some crazy investment. This is when real, full scale adoption is more plausible.
Now I’m not saying that there won’t be ups and downs (especially if Bitcoin starts the process of being adopted more as a currency); but that I was wrong about this being the eye of the storm, and I am glad I was (or there is just a really big eye in a really big storm).