BitcoinLong
BTC - Is Bitcoin Actually A Bubble?
Here's where I currently stand with Bitcoin:
BTC:
SHORT TERM - BULLISH
MID TERM - BULLISH
LONG TERM - BULLISH
Taking a look at short term at least, we see a bounce off the same Fibonacci Retracement level twice and we see a golden crossover in our MACD. I would be willing to make the bet that Bitcoin is green in the next day.
Now for our long term doubters, how can you consider Bitcoin to be a bubble?
A bubble by defintion in history is when something exceeds its "intrinsic value". However, the true intrinsic value of bitcoin could potentially be tenfold that of the price today.
Let's take a look at graphs that look similar to Bitcoin's growth. For example, here is the Size of The Federal Reserve Balance: pbs.twimg.com/media/DQJ-XxMW4AA3kdh.jpg:large
Correct me if I'm wrong but doesn't that look almost identically like the Bitcoin graph. Would the Federal Reserve consider their own existence to be a bubble? They surely consider bitcoin to be a bubble and Janet Yellen has gone as far to consider it a "highly speculative asset" and "[not] legal tender".
If you take nothing else out of this thread, listen to this: Bitcoin is a currency and assest like no other, in fact, it has created its own asset class. If you believe that Bitcoin will exist in some form in the future, then by all means invest into it today and join me in benefiting from its growth
BTC:
SHORT TERM - BULLISH
MID TERM - BULLISH
LONG TERM - BULLISH
Taking a look at short term at least, we see a bounce off the same Fibonacci Retracement level twice and we see a golden crossover in our MACD. I would be willing to make the bet that Bitcoin is green in the next day.
Now for our long term doubters, how can you consider Bitcoin to be a bubble?
A bubble by defintion in history is when something exceeds its "intrinsic value". However, the true intrinsic value of bitcoin could potentially be tenfold that of the price today.
Let's take a look at graphs that look similar to Bitcoin's growth. For example, here is the Size of The Federal Reserve Balance: pbs.twimg.com/media/DQJ-XxMW4AA3kdh.jpg:large
Correct me if I'm wrong but doesn't that look almost identically like the Bitcoin graph. Would the Federal Reserve consider their own existence to be a bubble? They surely consider bitcoin to be a bubble and Janet Yellen has gone as far to consider it a "highly speculative asset" and "[not] legal tender".
If you take nothing else out of this thread, listen to this: Bitcoin is a currency and assest like no other, in fact, it has created its own asset class. If you believe that Bitcoin will exist in some form in the future, then by all means invest into it today and join me in benefiting from its growth
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