Most cryptocurrency traders, even the ones who have been in the scene for a very long time are only cryptocurrency traders for the sole reason that they can put in money and get double sometime later. And with this being the tradition, new traders do not know better than to acquire a token/coin for this very same reason. This thought process is the topmost factor that controls the minds of traders and leaves them over analyzing the market upon noticing any unfavorable trend.
But on the flip side, if the cryptocurrency community would view these digital technologies from a more objective angle, one would seek to understand the structures behind the bearish and bullish trends.
Trading for Short-term gains is doing more harm to the market
Investing in Bitcoin or any other altcoin for short-term gain is the reason why most prominent investors believe that Bitcoin is a bubble. Short term traders who really do not seem like Bitcoin believers fuel a system of investment that promises returns only when adaptation increases. Not only does this cycle shrink the value of financial freedom and transparency that Bitcoin inherently presents, but it also fuels the very same narrative that fiat currencies represent and hinders the system from undergoing the needed development required to make Bitcoin the world’s global financial currency.
We can eliminate the unnecessary FUD, we can redefine Bitcoin
When one takes an in-depth look at the level of speed, transparency, and innovation that Bitcoin possesses, it is nearly inevitable to envision a downside; the results show themselves to exceed the next bull run, as well as the rivalry between exchanges and developers. If we want better results from Bitcoin, we will have to create a shift in our minds as traders and look beyond exploiting a technology that arguably has the potential of becoming man’s next greatest financial asset for short-term returns.
What is behind our reasoning?
Why are the so-called “market experts” predicting a closing price that suggests that they have faith in the coin, but later turn around to call in the bottoms upon the arrival of any slight bearish trend? Why are most college dropouts only expecting Bitcoin to be their temporary ladder to millionaire stage? Why are exchanges more interested in surpassing percieved rival exchanges? Because Bitcoin has become a tool for acquiring nothing but quick cash. And until we change this narrative by investing in Bitcoin for its aforementioned qualities, no level of adaptation will make Bitcoin look bigger than just a bubble.