The vast majority of people who have heard of bitcoin and/or cryptocurrencies gauge the overall market success based on today's price versus historical price. It is often said, however, that the best developments and technological breakthroughs actually happen in bear markets - where people focus on the tech and not the price speculation.
That said, the new BIS chief has told the world to "stop trying to create money [with cryptos], Isaac Newton failed and you will too." Priceless - https://www.ccn.com/stop-trying-to-create-money-bis-chief-to-cryptocurrency-developers/
Earlier this year, for instance, he said that bitcoin is “a bubble, a Ponzi scheme, and an environmental disaster.
Carstens argued that central banks are “trusted” and that, at least right now, there is no viable substitute for their role in the world economy. “I can’t imagine something coming along any time soon that would be more efficient and generate the same level of trust
You can hear the fear in their voices now. Bitcoin used to be ignored, then laughed at, and now the warnings of a bubble, ponzi and an environmental disaster all rolled into one. You'd think central bankers would rather have a third World War than a voluntary digital asset that can be transacted peer to peer with no middle man....???
These reddit comments are hilarious: https://www.reddit.com/r/CryptoCurrency/comments/8wb7qf/stop_trying_to_create_money_bis_chief_carstens_on/