Bitcoin has survived Hurricane Hearn. Will the price surge this summer?

The development of global digital currency can be said to have started from scratch, and naturally encountered many obstacles and pains in the process of growth. No one ever said that this is a smooth and easy road. Bitcoin is an important decentralized digital currency that can benefit almost everyone. The development of Bitcoin can also be said to be ups and downs.

Mike Hearn’s departure is but one storm in the history of decentralized currencies.

The more Bitcoin's price changes, the more it stays the same

People always hope that the price of Bitcoin can be higher than its actual price. But Bitcoin is not a 60-minute basketball game. The success or failure of Bitcoin does not depend on its exchange rate with the US dollar. The price of Bitcoin is just a number, just like people's age. It is worth noting that in the past 7 years, Bitcoin has jumped from a concept to a global value of $400. This is beyond the case of short-term fluctuations. But even so, it is not very important.

So what does the Bitcoin price change mean? Looking at the list above, for example, on January 13, the Bitcoin exchange rate was just over $430 against the U.S. dollar. Then, Mike Hearn started ranting through the media, and as a result, you can see that speculators began to withdraw their bottoms, the Bitcoin price plummeted, and Bitcoin funds soon flowed into altcoins and other digital currencies for internal and external investments, such as Ethereum. Ethereum went from less than $1 to about $6 in the next month. Then another month later, on Valentine's Day, February 14, the Bitcoin price magically returned to its original price, close to $430. This shows the strong resilience of the Bitcoin price.

Bitcoin price changes strengthen altcoin market

Besides the fact that the falling Bitcoin price could lead to an increase in investment in Ethereum, there are other positive effects, as other cryptocurrencies get more attention and opportunities to grow, such as Dash. Juan Galt made a splash last week at the annual Anarchapulco conference in Acapulco, Mexico, where he revealed all that Dash has achieved in a relatively short period of time on the market. Marketing has never been a part of Evan Duffield’s work, but innovation and good management never lack marketing.

The hybrid nature of obscuring the origin of Dash transactions and the vested interests of Dash "masternodes" both make a persuasive case for future upgrades within the larger Bitcoin protocol. Living in Bitcoin's shadow has both advantages and disadvantages. Good adaptability is a valuable asset, and those altcoin communities are smart to seize the opportunity.

If you are just a short-term speculator, the daily price of Bitcoin is very important. But for me and other long-term investors, it means less. I prefer to look at Bitcoin like a parent watching their child fall off a bicycle. My decentralized child (Bitcoin) will learn how to ride a bicycle, then drive a car, and then move on to bigger and better things. These are the stages that any life must go through. If we are wise enough not to lose faith or throw this digital baby out with the bath water, then decentralized currency will change our lives.

Mike Hearn's contributions will never be forgotten by the Bitcoin community. His departure will be a footnote in the economic history of Bitcoin's rise. Bitcoin's value increased by more than 30% at the end of 2015 compared to the beginning of the year. This year should be more profitable, but that's not the point. The dollar or Mike Hearn can't determine the value of Bitcoin. More dollars will be printed, then used to pay off debts, and then continue to depreciate. The Bitcoin community will continue to have people coming and going. Where Bitcoin goes is up to you and me.

A weaker dollar has never stopped the dollar from advancing

In terms of the value of the dollar, it has lost nearly 97% of its value over the past 100 years, but that doesn't stop the world from using the dollar. What I mean is don't get caught up in the quagmire of price and asset depreciation. It's like comparing the Internet 20 years ago to the number of fax machines that have been eliminated at any point in time. It would be nice to know the result, but it doesn't mean anything.

What we should do is make sure our decentralized child (Bitcoin) gets up, dusts itself off, and gets back on the bike. We have to ride with Bitcoin until it can continue on its own. Maybe Mike Hearn lost his patience and left. What about you? This is an interesting ride through the rise of digital currency. Get some exercise, enjoy some sunshine, and watch Bitcoin grow. Bitcoin's destination is already determined because we have been there before, 30 years ago when the Internet decentralized the world.

Bitcoin has so much power and potential. And so many people in the world have turned their backs on this child. Sometimes, all you need to do is guide Bitcoin a little bit so it can keep moving forward.

Winter is finally over, and Mike Hearn's departure was a winter storm that has now passed. Spring will soon arrive, and then Bitcoin will get hot in the summer, with the Bitcoin halving in July. March looks like a good time to buy Bitcoin, because the price will be much higher when summer arrives.

Original article: http://dcebrief.com/op-ed-bitcoin-survives-its-latest-storm-hurricane-hearn/
By Evander Smart
Compiled by: Kyle
Source (translation): Babbitt Information (http://www.8btc.com/bitcoin-survives-its-latest-storm-hurricane-hearn)