However, we need to confirm that such a decline is nothing for Bitcoin, and it has not even fallen out of the monthly line. Bitcoin once fell by 94% in history, and there are many cases where the decline is much larger than this, so there is no need to over-interpret this decline, and don't look at the rise and fall of the money market with the thinking of speculating in stocks.
Personally, such a decline is a wave of corrective correction to the massive bubble caused by the skyrocketing bitcoin some time ago. Nothing is too strange, but the market is normal.
But aside from the blockchain with unlimited prospects, if I return to Bitcoin, I am deeply pessimistic about Bitcoin. The reason why it is not optimistic is that the current characteristics of Bitcoin are completely unsuitable as a currency, that is, it has almost no use value, its value is completely exaggerated, and its price is completely speculated by the irrational market.
There are many reasons why bitcoin is not suitable as a currency, such as the high transaction cost, which is fatal, and the problem of transaction speed. Compared with mainstream payment systems such as Alipay, which can trade millions of times per second, Bitcoin can only trade seven times per second, which is very, very slow, causing congestion, and many transactions have to be blocked for several days to succeed.
Summary: As the pioneer of digital currency, Bitcoin has mastered the first-Mover advantage, but we can foresee that it will be the slowest and most backward digital currency in the future. Compared with ETH or eos with smart contracts, the application scope of Bitcoin will be extremely narrow. Another reason why it is not suitable as a currency is that the total amount of bitcoin is limited and cannot be exceeded. But never limit the total amount of money, because the total amount limit will bring deflation, and people will hoard bitcoin instead of trading it, so the transaction volume will be very small, indicating that bitcoin is completely unsuitable as a currency.