Bitcoin price and paper hands

Bitcoin price and paper hands

End of the bull market? Crypto winter? Strong correction ? All of them valid questions. However, it’s important to remember that financial speculation is a mere byproduct of crypto, not the initial goal.

Yesterday’s Bictoin price plunged as low as -50% vs its all-time high in April (recovering 30% since), which pushed many “paper hands” to panic-sell their coins, even at a loss. In the meantime, the number of Bitcoin hodlers increase: over 57% of accounts have now been hodling for more than a year.

So while short-sighted media resumed their predictions of Bitcoin death (over 414 Bitcoin “obituaries” registered at 99bitcoins since 2010), it would be wiser to concentrate on its primary mission – which has not budged since its conception: crypto is a decentralized alternative to centralized authority and its flaws, and Bitcoin is the most robust cryptocurrency.

P.S. And it still gained 382% since last year.