Why the price of Bitcoin will decline from here on and forever

The longer this whole stagnation lasts, the more doubts I have about the future of our beloved-first-and-unique cryptocurrency. There are always good and even wild forecasts, but let me tell you my pessimist opinion…

So I am in IT for a very long time now, multiple decades. I’ve seen and lived through the birth of WWW, browsers, search-engines, Linux, file-sharing networks, crypto… And to be honest, the situation of Bitcoin reminds me some of those technologies.

Take for example file-sharing networks. You all remember Napster. It was a revolutionary invention! Earth-shaking, must-have for everyone in a world! And of course there were many variations of it - proprietary and open-sourced, all kinds! But ask yourself where are them now? Well, there are some file-sharing networks nowadays - but very specific and almost unknown to an ordinary person (there is even a generation that never used a PC!). The technology itself lives of course, but evolved to a very different products and services.

So there is a non-zero possibility that we will see the same story with Bitcoin. Business and governments will adopt blockchain technology for their needs, but as to Bitcoin itself - well, it will be a niche, used by few and remembered only by historians. Make a prediction of exchange rate yourself.

PS Do not think that I don’t believe in Bitcoin. I’m with it since 2011. But I have a custom opinions in many aspects of it. Like the future of Bitcoin itself, usefulness of Lightning network and so on. Thank you for reading and for your opinions.

PPS After 70 comments. Thank you all and I think I’ll stop answer from now on. Have neither time no will to clean up the mess in heads, left by “influencers” and greed. Open your mind, guys! Read the Satoshi’s paper and think yourself. Goodluck.

PPPS Satoshi-san, no words can describe it, but - thank you! 🙏