Hello guys. Hope you are enjoying your beautiful life. It's been months I wrote on steemit and welcomed any new people over here. Might be the downfall of cryptomania made me stay away from writing anything and stick to read charts and candles .
Well, the cryptomania has taken a break and a much needed break indeed. Bubbles are meant to burst on reaching a certain height. Bitcoins are still overvalued as per now. Drinking Water will be the most valuable thing on planet in near future due to its scarcity. Same is true with bitcoins in case of currency and gold incase of precious metals. But not now. If we start HODLing water, we will see a similar increase in the price of water as we witnessed with bitcoins and other cryptocurrencies.
A sheer mania of greed and desire to become a multi-millionaire made people buy and hold a future currency.
The real value of these coins will be seen when these coins will be in real use. At the moment it's speculated price. With increase in price comes positive speculation and with slight downfall comes fear and further negative speculation. This formation and bursting of bubble will continue till we step into the era of cryptocurrency.
Till then enjoy the roller-coaster with seat belts on.