Cryptocurrency is different than the stock market, thus, leaving your technical analysis invalid. I see your point, and I agree with lightning network may Change this analysis, but maybe lightning network isn’t all that it seems because people don’t want to spend their bitcoin. Well, the majority. I personally would rather spend my crap fiat money and safeguard my bitcoin. So although lightning network will make it more practical if a payment option using bitcoin, I’m still not sure if I would spend my bitcoin. But idk 🤔 lots of things are to be considered. Interesting. But yes, lightning network would be a major upgrade and wouldn’t slow its adoption, only accelerate it. Hmmmm maybe it’s not that invalid of a post here, but some don’t care if lightning network come out or not, as they think of it more as digital gold, and not a daily spent currency. 🤔🤔🤔
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You may be right. And yes cryptocurrencies are not stock markets. But eventually if bitcoins was growing in adoption for 9 years and then suddenly stops growing and the number of people using it continues to dwindle I kind of believe its value will not continue to grow inversely with its usage. Even if it was being mined from the moon.
And I do not know if the Lightning network will work either. We shall see. Thanks for reading and your perspective. Upvoted the comment.
You do raise some concerning points, but I personally do believe in bitcoin. The lightning network can only help that is, if it does what it says it will do, as it will be a major improvement to the fundamental function to the bitcoin network layed on top of it. A true improvement can only raise confidence, thus, giving it some legitamacy, as it will get back to being closer to the vision of what bitcoin was supposed to be, a decentralized, damn near free method of payment. This should in theory increase user base, if you think about it
What attracted most in the first place I believe was a search for a decentralized (not controlled by any one or entity), non-inflated, nearly free method of payment. Plus it would have stopped the scalability issue, which prevents the user base from growing actually without. So I agree that should in theory increase user base.