"BITCOIN IS A HONEY BADGER...IT DON'T CARE."

Last night, while I enjoyed a beer and a delicious pulled pork platter, I disengaged from the lively conversation at the table to check my Coinbase notifications on my cell phone. The outside venue remained busy as the small country band entertained the crowd and servers zipped all over the place with orders. My eyes widened, as I tried to sober, from the incredible jump in the price of the cryptocurrencies. Most notably Bitcoin peaked nearly 35%, to $10,270, on the day- an increase of nearly $2,700 in less than 6 hours! I quickly screenshot the dashboard on the Coinbase application which indexed the cryptocurrencies.

Shortly after, I contemplated the unexpected explosion in the digital assets. At home, I looked deeper into social media groups that were dedicated to the cryptocurrencies and blockchain technology. I stopped scrolling the news feed to see an article posted about Bitcoin's weak technical chart which foreshadowed lower prices to come. The article was just a few days old. Sarcastically, I thought to myself, "man, did this post sure age well!" To vindicate my thought, I checked the comments under the post. My attention fell on a comment that mentioned, "Bitcoin is a honey badger...it don't care." I could not agree anymore. I recalled how vicious and fearless a honey badger was when faced with insurmountable opposition from other apex predators.

Just a few days ago, the U.S. Congress had a hearing for Mark Zuckerberg to critically address his ambitious Facebook cryptocurrency project called Libra. Government agencies using special technology to trace Bitcoin transaction, which would be expected since the Bitcoin network is an open public ledger. Both scenarios, do not pose an imminent threat because of Bitcoin's decentralization and governance by a verifiable code. A week ago, Bitcoin had broken a $8200 support level and sat at $7200. Analysts believed it would go to $6000. The bears had appeared once again from the interpretation of the posted article. But unfortunately for the bear, "Bitcoin is a honey badger...it don't care."

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Dewon Trades