Near the end of 2017 all the die hard enthusiast for this CryptoCurrency believed Bitcoin would skyrocket past $20,000 and leave many of the naysayers poor while the Bitcoin hodlers would become richer.
As we can see this was definitely not the case. At the end of 2017 Bitcoin started its downward spiral that would bring us a current valuation in the $4,000s to $6,000s range. Why did this happen? Through a series of too much liquidation into fiat currency, over-hyped enthusiasm, and an ever changing political landscape Bitcoin would fall to its current levels.
Could this have been prevented? Probably not, as history shows us new technologies have a tendency to create bubbles with too many companies and groups in a short amount of time battling for monopolistic domination.
As Bitcoin started to wither into its current values a host of other CryptoCurriences have started to pop up from infamous ICO Scams, and still other coins with better technologies, Bitcoin still dominates the Crypto landscape.
How does it accomplish this? Consumers flock to familiar brands and Bitcoin is synonomous with Crypto itself. Ask anyone what a Crypto-Currency is and you're average person will obviously mention Bitcoin, a digital coin that can be used a form of payment.
For us to not believe Bitcoin to rise again is unbelievably ridiculous. Bitcoin will rise again in 2019 due to the introduction of Bakkt Bitcoin Futures, the legitimacy of Crypto Currency is in it's infancy, and Bakkt will fill in a gap that prevents institutional investors from currently being involved.
The operator of The NYSE and creator of Bakkt can potentially very easily bring Crypto back into mainstream news, institutional investors bringing in their level of funds into the Crypto World will bring the value of Bitcoin from its current low back to a much higher valuation. The question we must all ask ourselves is, will this increase in value create a bubble so substantial for Bitcoin that it will pop again after Crypto liquidation. Only time will show us if Bitcoin is here to stay.
