Be careful, this "dip" has the highest volume ever. Trends usually change with ath volumes.
While it's true that the power consumption for Bitcoin mining is insane, and reasons to hope we move over to greener alternatives than the current proof-of-work model - There are good arguments for keeping the system as it is now. Much of the reason why Bitcoin has the most secure network in the work, is that running a 51 % attack is incredibly demanding and unprofitable, as the energy needed is insane.money.cnn.com/2017/12/07/technology/bitcoin-energy-environment/
I've seen a handful of articles in this vein the past ~2 days and it puts a bit of a different spin on things. The power consumption bitcoin requires is apparently staggering and set to grow in the coming years.
1. Don't read/link the Sun. It's a lowest-common-denominator UK tabloid.
I'm up over a grand with some minor dabbling. Currently investing a bit more and hoping for better returns. Tried to buy Tron when it was 10 cents but Binance was crashing, so I didn't get it until it was much pricier :(
I think there's a bubble in the sense that almost all cryptocurrency is doing well right now, and that's certainly not sustainable especially since a lot of the money going into it is on speculative investments and not based on belief in the technology (= inflated value). For example I would not invest in Dogecoin, even if there are large speculative gains to be made while the bubble is still intact. But I still think there's long-term potential for the currencies / platforms that actually make their use cases a reality in partnering with businesses or banks. At the moment, Ripple, Tron, and Stellar seem likely to make these moves (iirc Tron has established a real deal already and Ripple looks like it's going to work with some banks). AMB (Ambrosus) is another interesting cryptocurrency as it is supposedly backed by the Swiss Government to some extent, and has a unique use case