We saw huge profit-taking at Christmas which drove the currency down across all cryptocurrency coins by about 25%. I think this was just profit-taking and not a sudden lack of faith in the market.
However, we’re definitely seeing weaknesses in btc at the moment. Slow response times - over a day - and very high fees - I’ve seen up to about $30. It’s unacceptable and unusable.
Ask yourself the following questions.
1. Is the future of currency digital?
2. Is bitcoin technologically sound? (will it be ok as-is for the future or will it have to be hacked to a new better version)
If you said yes/no, (as I do), then you should stay in cryptos but divest of btc itself.
If you said no/no (as skeptics do), then sell all and get out.
If you said yes/yes, then hold and see whether btc survives.
[obviously: If you said no/yes, then you’re confused, or don’t know what bitcoin is].
My suspicion is btc will survive as a reference currency - like the USD in fiat markets - but that it has a limited use case because of technical problems.