anonymous question (paid in the amount of 0.0002btc)

In short, everything is fine with Bitcoin. Throughout the year, the price has been gradually falling, as have trading volumes, commission sizes, and the frequency of Bitcoin mentions in the press. In other words, the bubble that burst at the end of last year has been successfully deflating, and now the price is approximately one-fifth of its peak. This drop is comparable in amplitude to the decline that lasted throughout 2014, and is far smaller than the catastrophic crash of summer-autumn 2011, when the dollar price of Bitcoin fell 13-fold.

Of course, the lower the trading volumes, the greater the possibility of causing significant price jumps using relatively modest funds. But high volatility attracts speculators, and volumes begin to grow again, which means the opportunities for price manipulation begin to decrease; thus, these market feedbacks prevent the cryptocurrency from spiraling out of control.

Once again, as in 2014-2015, mining profitability has dropped, which leads to the least efficient miners being sent to the scrap heap. In 2015, during the low exchange rate, bankruptcies of individual pools also occurred. Thus, this market is actively clearing out inefficient players, meaning the end of the crisis is not far off.

Against the backdrop of all this seemingly negative environment, active work continues both on the Bitcoin protocol itself and on the Lightning second-layer protocol, which allows for the creation of direct payment channels outside the blockchain and the movement of money through them with negligible time costs and negligible commissions. Therefore, in the event of a new price surge, the probability that the mempool will become clogged, as it did last autumn, and that the transaction fee will skyrocket, becomes much lower; the community is now far better prepared for such situations.

So, is it time to buy? You know, the Belarusians have a proverb that it is never too late to buy dollars; the same can be said about Bitcoin. It should be acquired whenever there is free fiat that does not need to be spent in the next five years. By doing this, you will not only preserve your purchasing power but also benefit the community.

On a logarithmic scale, it is clearly visible that everything is OK with Bitcoin