Perhaps the elusive satoshi nakamoto needs to buy back his bitcoin in order to recover the current low price. I figure something to do with the fed is causing this current crash as they feel threatened by the possibility of btc’s disruption of their control over the worlds money supply. It is somewhat unfortunate for all blockchain technology seems to be resting on the fate of bitcoin. Disrupting th disrupter of the primary disrupter. On and on. To put viable resources to a utility coin is a dangerous proposition in my opinion.
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Thank you for your comment @jazzresin :)
Definitely yes. Current low price of Steem is only the effect of crisis of bitcoin and ethereum.
Why is it dangerous? Do you mean that if we put viable resources to a utility it will depend on bitcoin and may fluctuate like it?
All the best,
Jan
Dear @neavvy indeed. At least at this point in time. I am in disbelief that the price of bitcoin is so low. Some people have noted that this is probably due to end of year taxes avoidance but i have a feeling this low price is due to some controlling force aligned with the federal reserve. Crypto has certainly disrupted the fed....to the injury of all the fed is now disrupting cryptocurrency. Just two bits. Intuition only.
Thanks for your reply @jazzresin. Tax avoidance is an interesting hypothesis but consider that this time last year bitcoin had a record-breaking price, so in my opinion this cannot be the main reason of the current dip.
You are right, this is very probable.
Regards,
Jan