Just a few short days ago, it seemed as if the Bitcoin forever bulls were right – nobody quite understands the quasi-asset.
Recovering from a pullback, it seemed that nothing from fundamentals or technicals would ever touch the veracity of the bullish claims (or did they ever rely on facts to begin with?)
I’m not in the business of calling tops, but I do believe that the parabolic uptrend is broken and will initiate the crowd selloff as weak hands drop their soymilk lattes to convert Bitcoin into $ETH $LTC $DogeCoin $PotCoin $PizzaCoin and of course, the almighty $FlappyCoin.
But there is no safe haven for their freshly laundered billionaire dark slush fund capital.
It seems that nothing can save him/her/she/it/they/xe.
A fool and his money are soon parted.
Without understanding actual market fundamentals, foaming at the mouth for another 1000% gain, it seems as if the Bitconned will hold out forever.
Soon, it may be worth 1,420 or even $800, as some speculators are suggesting.
To the forever-bulls, what say you?
I suggest returning to the basics and investing in $SNAP, $NVDA, $DRYS, and $JNUG.
STICK TO WHAT WORKS.
I’m very sure we will see new highs in the King Crypto market, and others I’m sure will see penny stock style action for plenty of years to come.
But what the Bitconned don’t understand is where the liquidity comes from.
A bunch of basement dwellers with $NVDA rigs didn’t create value for those assets, and they sure weren’t using solar power.
Billionaires will once again be buying up blockchain bits to service their commitments to foreign entities and Lucifer himself.
Bitcoin is the most liquid money laundering instrument in the world currently.
Which one will be next?
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…and don’t you ever forget that bitcoin is as good as gold, a true store of value, if only for a few days or so, but that would never elude BTC bulls, would it?
Bit harsh.
Bitcoin (cryptocurrency) is here to stay. It will rise and fall, but has only just started. Potential to destabilize the banking system. It. is. that. big.
Only recourse for fiat currencies is to raise interest rates. That is why dollar rates are rising.
hey man my rig is on the 2nd floor and using AMD cards
The only thing that can derail Bitcoin is the potential hard fork. If all that noise about forking turns out to be much ado about nothing, then around August 1st it’s off to the Moon.
Oh and FIG.