Business – Bitcoin proved to be a bubble after breaking people’s irrational beliefs
At the end of the year 2017 and at the beginning of 2018, the columns I wrote showed that the decrease in bitcoin prices on the sentiments of those who believe in reality on Bitcoin has not made any difference. At that time in less than a year, Bitcoin had come down from $ 20,000 (about 14 lakh rupees) to $ 9,000 (about six lakh rupees). Now that one year has passed, Bitcoin has come up to $ 3,500 (about two lakh rupees). Almost all the enthusiastic supporters of Bitcoin, apart from other financial crises of the past, have the belief that various conspiracies have been created to destroy the Bitcoin.
Last year, I tried to tell through a fictional story of monkeys and goats that a good investor finally invested by paying more than the actual value. However, there is a difference between overpraise investment which has some real value and investment in which the value is contributed. When this column was published, those who believed in Bitcoin, as quickly as I had criticized, could be an example. I often say quite a lot of clarity and without any texture.
But I have never seen such a turbulent flow of criticism. Even Bitcoin was called a bubble when I had to become a victim of contempt. My understanding says that enough or maybe most people who believe in Bitcoin believe that they do not need the people and ideas already established to deal with it. They can deal with it themselves and like others they are experts. The concept of Bitcoin was similar to the new experience for them. Most of the emails I received were saying the same thing about how people like you, how it will be, it is a technology.
At that time the concept of the conspiracy had already arrived. Those days did not know how a general concept was made that the Chinese government and Goldman Sachs are working together to destroy Bitcoin. The idea behind it was that they thought that if not done, then Bitcoin would destroy them. This concept has now failed from all sides. Almost all the regulators and governments of the world have either issued warnings or have stopped it. Not only this, but its ads have also stopped at almost all major websites. To prove the conspiracy of Bitcoin, it has been proved so far that those who opposed Bitcoin were right.
There was a strange thing behind the insanity of Bitcoin that he believed in the belief that Bitcoin’s hypothesis was amazing because there is no government behind it, neither any central bank nor any other central authority. The reality is that hardly anyone has invested in Bitcoin by thinking of his technique, downloading software or generating his own and creating his own valet. On the contrary, visiting the Bitcoin investors by going to the grassroots level in their country shows that a multilevel marketing network was working here. Each investor has given its idea to another investor. The same investor introduced the new investor to people like a broker or operator.
Generally, people download apps, give money to anyone and then they are happy when a large number appears in the app. There should be no doubt in this for anybody that it is a system which is completely free of government and central authority. At last, Bitcoin’s insanity reached where he should reach. Everything went wrong in Bitcoin Bubble Making a cryptographic currency translates into global insanity. It was useful for secret electronic payments until it came to insanity. This is particularly useful in paying for the dark web. But its balloon grew bigger and Bitcoin went wasteless.
It was completely betting based madness, which had no basis. In the future, it can be useful for the study of psychiatric specialists.
l am Rananjay Parmar and l work with Credence Research Limited is a marketing consulting and research Agency that is focused on the United States market and the United Kingdom. We are specialized in primary data collection and offer our clients relevant information and advice through the help of adequate research analysis and conclusions.