The charades of cryptocurrency.

When bitcoin was first developed using the rehashed blockchain technology of the late 1990s, it had to have an incredible theme to sell to lure investors into buying something that was worthless.

Thus, the crypto proponents used the limited supply concept of bitcoin to entice investors to buy into the "Too good to be true" theme. As the proponents and the ignorant investors didn't have a true understanding of the economic principles of demand and supply, the investors were taken in because they thought that the demand and supply had a direct inverse relationship.  They thought the declining mining supply would drive up the bitcoin prices to astronomical levels.  As the bitcoin prices started to rise dramatically, the proponents had to concoct another story to drive the bitcoin further into the stratosphere.  Therefore, they preyed on the psychological mindsets with the "Fear of missing out (FOMO)" theme.  They claimed that more merchants and other retail investors are entering the crypto markets because crypto was going to revolutionize the world.  It worked marvellously until bitcoin reached almost US$20,000.

Then, the harsh reality of market forces started to creep in and bitcoin prices started to fall tremendously.  Those proponents didn't give up and come up with another theme again.  This time, they proclaimed that the financial institutions and fund managers would enter the crypto market soon and this would cause bitcoin to spike.  However, the truth was that any serious financial institution would develop its own private blockchain instead because of privacy and security concerns and the private blockchain couldn't be mined or interconnected with the public blockchain.

http://sg-stock.blogspot.com/2018/09/the-private-blockchain-will-cannibalize.html

As you can see, the proponents keep shifting the goal poles to lure investors to invest in crypto and will continue to do so.  Subsequently, these proponents do not use the original rationale of limited supply concept to talk up the bitcoin prices anymore.  Conversely, they will continue to keep talking up the bitcoin prices and won't warn the investors about the downfalls.

Ask yourself the following questions now.

Did the proponents warn you about the potential price fall when bitcoin was near US$20k? NO!
Did the proponents warn you about future price fall when bitcoin was at US$10k? NO!
Did the proponents warn you about further price fall when bitcoin was at US$5k? NO!

For your information, the bitcoin price is around US$3,500 now.

When the prices fell by 50% each time, they only encouraged you to buy more instead.  Why would you still want to trust or believe in them then?  Blind faith is a dangerous thing and will cause you big financial losses.

Please read our posting below to have a proper understanding of cryptocurrency before you really want to invest in crypto.

http://sg-stock.blogspot.com/2018/11/a-financial-analysis-on-initial-coin.html