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…
https://twitter.com/Andy_Hoffman_CG/status/1000053926828298240
- Andy_Hoffman_CG
…to record low transactions fees…
https://twitter.com/Andy_Hoffman_CG/status/1001437000707096576
- Andy_Hoffman_CG
…a likely gross overestimation of the Mt Gox Trustee…
…and now, a potentially MAJOR European political crisis…
https://twitter.com/Andy_Hoffman_CG/status/1001421629107261440
- Andy_Hoffman_CG
…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…
https://twitter.com/Andy_Hoffman_CG/status/1001102051936366592
- Andy_Hoffman_CG
…are in MAJOR trouble, as their hash rates are plunging…
https://twitter.com/Andy_Hoffman_CG/status/1001095107746062336
- Andy_Hoffman_CG
https://twitter.com/notgrubles/status/1000200442687696896
- notgrubles
…and with it, their network security…
…highlighting why Bitcoin is UNIQUE, and IRREPLACEABLE…
…why the vast majority of altcoins are useless…
https://twitter.com/Andy_Hoffman_CG/status/1001086657527889922
- Andy_Hoffman_CG
…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…
https://twitter.com/Andy_Hoffman_CG/status/1001183692977463303
- Andy_Hoffman_CG
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?
https://twitter.com/Andy_Hoffman_CG/status/1001465939504775169
- Andy_Hoffman_CG
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?
https://twitter.com/Andy_Hoffman_CG/status/1000941343479218178
- Andy_Hoffman_CG
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…
https://twitter.com/Bcash26972296/status/1000157581091000321
- Bcash26972296
Only time will tell, but given Bitcoin’s massively bullish fundamental outlook…
https://twitter.com/Andy_Hoffman_CG/status/1001295431203090432
- Andy_Hoffman_CG
…and historically low valuation, I’ll “take the over.”