Bitcoin is one of the most controversial subjects in the media these days. A year ago, the average person in western society hadn’t even heard it mentioned and had no idea what it was.
That all changed rapidly throughout 2017 as Bitcoin shocked the masses and grew exponentially at 15 times in value over the year. With that kind of growth, the media and business pundits could no longer ignore or avoid the subject and Bitcoin moved into the mass markets for the first time ever.
For most people, the assumption was that it was a new technology or passing craze. That however is far from the truth and Bitcoin will very soon celebrate its 10-year birthday.
While the majority of the financial sector is convinced Bitcoin is a bubble, similar to the dotcom bubble of the mid 90’s, others remain highly bullish on both its value and the blockchain technology that drives it. Companies like Dell and Microsoft accept BTC payments, universities around the world take student fees in Bitcoin and many sports and gambling sites use the cryptocurrency openly. So much so that Bitcoin-exclusive casinos are a real thing, with provably fair games and <a href=”http://bitcoinplay.net/bitcoin-poker“>Bitcoin poker</a> being their main attraction.
The “Bitcoin bubble”, as the mass media has taken to calling it, was expected to pop any minute and, in January of 2018, it looked like it was about to happen. Bitcoin lost nearly 30% of its value from its historical high and the cryptocurrency sector in general lost over 40%.
Though the crash seemed imminent, it never came and Bitcoin, since the second week of January, has clawed back rising 10% from its lows. Many people are likely wondering why this so-called bubble simply doesn’t completely die or why it was able to bounce back against the financial sector’s predictions.
Here are the people that are the reason behind why Bitcoin and its so-called bubble won’t pop, and why it bounces back with vigor after any perceived crash.