Bitcoin and the cryptocurrency space in general has had a rough few months. However, I do believe that the majority of the price movement is not related to any news that any mainstream media has provided. This statement can only be supported by the recent appearance of the CNBC's contra-indicator.
There is no denying that there is manipulation, scams and bad actors in the market. That is certain. In general, though, I think that most of the capital that has disappeared from the crypto space is now fuelling developments of new technologies and companies. After all, you can't really go and buy groceries with most of the cryptocurrencies, YET.
Over the past two months I've tried to learn new things about programming, money, cryptocurrencies and so on. I've also had some interesting conversations with various people on the topic of cryptocurrencies and blockchain. Even though I consider myself a fairly decent teacher with the ability to break down complex topics into smaller, more understandable pieces, there is only so much one can explain. And even then, most of the conversations just ended with me quitting due to the lack of technical understanding (or rather lack of willingness to try to really understand the topic) of the opposing party.
While I do enjoy telling people about Bitcoin and the crypto space in general, I've decided to calm my efforts in promoting the space. At least for the time being. I've been inspired to do so by A. Antonopulous and his suggestion in one of his videos.
To make my point of this blog post, though, NANO (formerly RaiBlocks), has had a pretty good week. It hasn't surged "TO THE MOON", by any means. Nevertheless, the development in price has not been, at least to my knowledge, supported by any mainstream media, manipulation, technical development or an ETF for that matter. That would be plain ridiculous. Just good old supply and demand market mechanics underlined by a promising technology.
I though I'd make a quick meme from it. It really proves the point I'm trying to make here.
