Yet again, Bitcoin managed to make another holiday weekend miserable. I’m still trying to figure what the “market” is so worried about – unless, of course, it erroneously believes manipulation will cause the price to indefinitely decline.
Everywhere one looks, the news is not just “Bitcoin-bullish,” but unprecedentedly so – from record hash rate…
…to record low transactions fees…
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…a likely gross overestimation of the Mt Gox Trustee…
…and now, a potentially MAJOR European political crisis…
…and armed conflict…
…that may well, in short order, remind the world exactly why Bitcoin came to be…
…why the powers that be can’t win…
https://www.zerohedge.com/news/2018-05-29/trader-warns-only-draghi-can-save-us-now-will-he
…and consequently, what makes Bitcoin so valuable…
Meanwhile the “competitors” whose minions have spent the past year attacking Bitcoin on false pretenses…and in BCash’s case, market manipulation…
…are in MAJOR trouble, as their hash rates are plunging…
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…and with it, their network security…
…highlighting why Bitcoin is UNIQUE, and IRREPLACEABLE…
…why the vast majority of altcoins are useless…
…and thus, why it’s so silly that Bitcoin has been “thrown out with the bathwater”…
…when what SHOULD – and MIGHT – occur, is not just surging Bitcoin dominance, but a rising Bitcoin price…
To that end, how eerie is it, that just as all recent weekend rallies have seen their “gap” filled when Bitcoin futures opened, this weekend’s $500 decline was “filled,” too?
Was it in fact the end of the latest FUD episode – in this case, on an ultra-thinly-traded; and thus, highly manipulatable; summer holiday weekend?
If so, even TA FUDsters would have to take note of the higher lows Bitcoin generated…
…above the trendline going back to last Fall’s breakout…
Only time will tell, but given Bitcoin’s massively bullish fundamental outlook…
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…and historically low valuation, I’ll “take the over.”
Why is everything a conspiracy????