Perhaps we need to see less headlines about Bitcoin’s price, and more headlines about Bitcoin-based innovations and applications.
But today, in reality, the majority of Bitcoin-enabled services are basically still in the oven, in the labs, in development, or in the works. It means they will take longer to get realized. So, why should Bitcoin’s price be so high while Bitcoin-enabled services have yet to come to life? This is like having a wonderful new paradise where the blueprint and sketches are really attractive, but when you want to book your ticket, or buy some land, you realize the prices are totally out of reach, and very few people end-up going there, despite the theoretical attractiveness. Then, developers start pulling the plug on their projects because not enough prospects are coming to check out what they are building. A similar scenario was looming on the Bitcoin horizon, and thanks to the recent Bitcoin price fall, more users will be able to afford that cheap ticket into the cryptocurrency promised land. What are the benefits of lower Bitcoin prices? For one, it gives developers some room to breathe. It gives them more time to continue developing and dreaming-up the possibilities without undue pressures on their deliveries. And two, it gives consumers a chance to start tasting the Bitcoin magic without having to fork a fortune to get into it. And these are 2 good things.