I honestly cannot believe where we're at, lets review a few things.
1) PBOC STILL does not allow people to withdraw Bitcoin. Buying on these exchanges are the definition of FOMO, they're buying something they may or may not ever get control of. It really is quite the gamble, but I would take it and lots of others as, the premium is almost null at this point between China and everyone else. I have a feeling if when PBOC allows withdraws we will see a very large spike as fiat has been waiting for the moment they can buy and withdraw.
2) Core vs BU - Honestly, I feel this one is pretty much over, has been for a while but people naturally are drawn to drama so it has dragged on and on over various social platforms. However, Bitcoin doesn't take breaks, it doesn't need to post on social media to evolve/convince people to use it. Proof is in the hash, transactions up, hash rate still growing exponentially. The community/core is aware of some parties desire to block development due to profits. UASF nodes are now very easy to install and setup. So with the growing popularity of Segwit amongst the community and large players now cheer leading. It's is only a matter of time before Bitcoin adopts Segwit.
3) Bitcoin is entering one of those Media focused phases. Events/uncertainty around the financial world (bank controls, gold confiscation, Fed uncertainty, debt bubbles, I could go on), and even NSA leaks tools being altered in to ransom ware paid via Bitcoin. All these things are being pushing in to peoples TVs, magazine, blogs, TV shows, you name it. Bitcoin is becoming a household name, and Family/Friends are even finally starting to buy now that it appears to be more mainstream.
4) Bitcoin is breaking out of a huge multi year trend, these things typically happen with force.
All these things together lead me to the chart. I see a culmination of events all leading us to a bubble like we saw in 2013. I have no idea on timing. Segwit activation is poised for as soon as August 1st, and if the Litecoin pump was any indication of what Segwit hype can do, I think we're in for a run ride.
Have fun, buy dips, scale in, avoid margin. There are going to be some big swings ahead.
1) PBOC STILL does not allow people to withdraw Bitcoin. Buying on these exchanges are the definition of FOMO, they're buying something they may or may not ever get control of. It really is quite the gamble, but I would take it and lots of others as, the premium is almost null at this point between China and everyone else. I have a feeling if when PBOC allows withdraws we will see a very large spike as fiat has been waiting for the moment they can buy and withdraw.
2) Core vs BU - Honestly, I feel this one is pretty much over, has been for a while but people naturally are drawn to drama so it has dragged on and on over various social platforms. However, Bitcoin doesn't take breaks, it doesn't need to post on social media to evolve/convince people to use it. Proof is in the hash, transactions up, hash rate still growing exponentially. The community/core is aware of some parties desire to block development due to profits. UASF nodes are now very easy to install and setup. So with the growing popularity of Segwit amongst the community and large players now cheer leading. It's is only a matter of time before Bitcoin adopts Segwit.
3) Bitcoin is entering one of those Media focused phases. Events/uncertainty around the financial world (bank controls, gold confiscation, Fed uncertainty, debt bubbles, I could go on), and even NSA leaks tools being altered in to ransom ware paid via Bitcoin. All these things are being pushing in to peoples TVs, magazine, blogs, TV shows, you name it. Bitcoin is becoming a household name, and Family/Friends are even finally starting to buy now that it appears to be more mainstream.
4) Bitcoin is breaking out of a huge multi year trend, these things typically happen with force.
All these things together lead me to the chart. I see a culmination of events all leading us to a bubble like we saw in 2013. I have no idea on timing. Segwit activation is poised for as soon as August 1st, and if the Litecoin pump was any indication of what Segwit hype can do, I think we're in for a run ride.
Have fun, buy dips, scale in, avoid margin. There are going to be some big swings ahead.
Kommentar:
imgur.com/a/qWFBO
