Is this the inflection point when the Flippening at last happens?
Bitcoin has taken a beating since 15-April-2021 and rightly so. It has been proven not to be an inflation hedge, which was the number one reason every pundit pumped BTC. We know this now because on the worst official inflation news in 30 years in the USA, BTC fell 41% in a massive crash.
The future looks bright for ETH, and perhaps brighter for SOL, DOT and MATIC, as the blockchain crypto "gas" tokens, with other specialties like COMP looking bright.
Ethereum, though where the action has been, owing to inherent design, looks more like a proof of concept, while DOT and SOL look like next gen smart blockchains. Ethereum could lose much ground going into 2022. Cardano, though touted by many, still looks like an academic exercise. Many have put hope in Cardano's token, ADA, but the customers have not been as ready to do the same as they have for Ethereum and increasingly Polkdot and Solana.
BTC though, likely as no long run future. It fails to work as a currency since the write times to the bitcoin block chain are too slow.
Right now, there are some paper rich Bitcoin holders, people who bought circa 2011, who have every reason to spend tens of thousands of dollars to keep the "ponzi" of Bitcoin going.
But as real worth smart blockchain crypto tokens take off because the Blockchain Economy continues to grow, Bitcoin will be left behind. The likely long run price of Bitcoin will be closer to DOGE than smart blockchain tokens like SOL and DOT.
One third of all BTC today as of right now were bought at a loss. Those holders are living on hope and not reality.
Gab It
