Since the fall of Bitcoin in early 2018, cryptoverse have been flooded with numerous speculations and explanations explaining the reasons for the decline in BTC prices. In December 2017, the cryptocurrency market performed at a staggering pace when BTC pioneered when it reached its historic high of $ 20,000.
Some of the first Bitcoin adopters to make a fortune investing in cryptocurrency are still thriving in the industry. The list of early adopters included business giants from various sectors, such as digital content companies, non-profit organizations, industry, e-commerce platforms, and many more.
Winklevoss Cufflinks; the venture capitalist Tim Draper; the founder of the Digital Currency Group, Barry Silbert; the president of Bitpay, Tony Gallipi; Satoshi Nakomoto, etc. They are some of the most well-known personalities on the list.
As the slow-moving market continues, several analyzes show that early adopters lose confidence in the cryptocurrency. In mid-2018, there was more than just Coinbase.
A banking platform based in San Francisco, Chime, conducted a study of over 500,000 Coinbase users. It claims that investors deducted $1.37 for every dollar deposited in April and $ 1.10 for every dollar paid in May. The analysis also shows that Bitcoin sold about $ 15 billion in BTC in the first four months of this year.
Oliver Janssens, the founder of the Freedom Investment Group and one of the early bitcoin investors, recently talked about the same thing. In one of his latest tweets, he mentioned that most members of the BTC community went after the destruction of the digital asset.
His tweet says:
“Bitcoin (BTC) has now been abandoned by the world and has its origins in the future – it has destroyed it, so it’s an irrational cult and hates the competition.”
According to Oliver Janssens, Bitcoin Core and the blockchain technology chain blockstream are the main reasons for the destruction of the Bitcoin community. Blockstream is one of the companies providing funds for the Bitcoin Core project.
BTC on Bitcoin Cash [BCH]. Vinny Lingham, CEO of Civickey and General Partner of Multicoin Cape, said:
“Honestly, the network effect is more important than anything else.” Bitcoin wins uncontested in this sense.
Michael Matthews, a cryptocurrency miner, said:
“The core developers have gone the wrong way, they are paralyzing bitcoins, alternative currencies are not making the same mistake.”
A Twitterati named Cryptophyter commented:
“If you mislead the Bitcoin name, you’ll get in the way of Bitcoin Cash – if the general public calls Bitcoin a fraud or fails, that will give you a completely different name.”
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