Interesting how there is so little talk around here about how many Chinese BTC Western exchanges will be able to absorb in the first place.
Because rest assured: what cannot be sold in China will be sold in the West.
Another thing that is not being talked about: how will BTC survive after a large decline? Is this crypto's Dotcom bubble crash? Because in that case, only a few crypto currencies will survive, and only those with the strongest usecase. In my view, BTC is far from certain to be ensured survival in that case. Bitcoin is not ensured - at all - to rise again. Past performance does not guarantee future performance, as the opposite would mean that Bitcoin would keep rising forever.
Lastly: what will happen if some major parties that are playing the market now decide to move over to some other crypto alternative, with more advanced tech and/or a different usecase? Because those parties aren't holding BTC for some damn ideological goal: they want to make money. If they start dumping Bitcoin like there is no tomorrow, we might easily find ourselves in a similar 2014/2015 decline.
I'm curious how people think about these questions, as there is way too little attention for such things here.
Because rest assured: what cannot be sold in China will be sold in the West.
Another thing that is not being talked about: how will BTC survive after a large decline? Is this crypto's Dotcom bubble crash? Because in that case, only a few crypto currencies will survive, and only those with the strongest usecase. In my view, BTC is far from certain to be ensured survival in that case. Bitcoin is not ensured - at all - to rise again. Past performance does not guarantee future performance, as the opposite would mean that Bitcoin would keep rising forever.
Lastly: what will happen if some major parties that are playing the market now decide to move over to some other crypto alternative, with more advanced tech and/or a different usecase? Because those parties aren't holding BTC for some damn ideological goal: they want to make money. If they start dumping Bitcoin like there is no tomorrow, we might easily find ourselves in a similar 2014/2015 decline.
I'm curious how people think about these questions, as there is way too little attention for such things here.
It will rise because of current development, like the lightning network, satellites and all those other things proposed in the Segwit papers. Also, there's card projects like TenX and Proof which wants to make crypto-currencies useful, turning some alt-coins into daily cash, like litecoin, dash, bcash and ethereum, and this would increase the importance of bitcoin as a reserve coin, like gold is to fiat, hence increasing the market cap. People would use bitcoin only to buy big things, holding it as a store of value mostly, and trade would focus more in those alt-coins next to it.
Since bitcoin would be used as a reserve, at some point development of bitcoin would halt, and then the alts would increase more than bitcoin. However, none of them would be near it in value, as gold still have more value than fiat. This will probably happen when bitcoin reaches 100k each and have a market cap similar to gold, and the alts combined will have four times this market cap, although divided between some 10-20 different alts (most of them will die over time due to ICO regulations).