Quote:
Originally Posted by thebasketballgeek
This is the 5th time that Bitcoin has crashed. However, we can’t ignore that after every crash so far that Bitcoin (and the rest of crypto for that matter) have rebounded and reached all-time highs after every crash. Of course past performance has no indicator of future success, but it is something that should be considered regarding the extreme volatility of cryptos both positively and at the moment negatively.
Also, I do believe that Canada will start implementing some sort of digital currency because that’s where the technology is headed, but it won’t be backed by Bitcoin rather it’ll be backed by the state like all currencies are.
In terms of crypto specifically I’m much more intrigued by Ethereum then Bitcoin.
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This is generally my stance as well. The one major flaw in the history is that it's all very recent and happened exclusively during the longest bull market of our lives. This is the first recession that Bitcoin is up against, so we'll see what happens. Previously Bitcoin would always skyrocket each time the supply halves, but we'll see if that pattern holds up during a recession.
What makes you more intrigued by Ethereum?