Bitcoin is unregulated, backed by nothing and based on 'who-says-what' by the rich and famous. As a result, it has been too unpredictable for me personally. I could try to be an opportunist and trade the volatility but that was then. These days bitcoin is having a lot of bad press and since it is based on speculation, these bad news may cause a shift in other 'too many' coins. Thats is when you have to know which horse to pick. Ill rather wait and see how this unfolds interestingly. The fundamental question is: would you pick a currency backed by nothing or would you rather choose a currency backed by a reserve bank and a country? We witnessed what happened to crypto when China released its digital yuan and at present a digital euro is being studied.... Thailand and UAE are pushing to digitalized their currency too... diem is about to be launched... these are all existential challenges that Bitcoin will have to face in the future... The only thing that is certain is that Blockchain is here to stay...
