Adoption coming in so far has been the highest it's ever been, however, the rate of change of this phenomenon is nowhere near a justifiable correlation compared to the price action that we have been seeing over the past few months. As CI says, most people who even use crypto right now is using it solely for the means of speculation, and nothing else. Your argument of adoption is flawed and invalid.
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I agree that adoption doesn't fully justify the price action. I believe what was more likely is the creation of the derivatives market and allowing strong hands to push everyone around. To me that makes more sense. But, I don't think the people doing it want to kill the market, they just want to cash in. This in my opinion, means the short trade will reverse when there are massive profits to be made. They're too greedy to kill the cash cow. They are just in the business of fleecing. Also, on a personal note I don't own andy bitcoin. I'm invested in Steem mainly because of the social aspect of the coin and the fact it has many great technical features. Steem has held up really well over the past 90 days when compared to bitcoin. What's your opinion on the future of the Steem blockchain? Thanks for your comment!
Valid point, using that kind of logic I can't really say that one school of thought is better than the other especially in the kind of market we're in. Only 1 way to find out...
STEEM is great, one of the few coins with a value that has the greatest ties with its objective value tbh. Im currently in the process of trying to buy some but my exchange isnt cooperating with me at the moment because flash crash and all -_-