RE: Bitcoin (BTC): A Simple Trend Following Strategy
I understand your point of view. Im talking about Bitcoin and its price not Blockchain technology.
Banks and government won't let Bitcoin do what it was designed to do.
Juste imagine they decide one day to make Bitcoin illegal.
The market cap is still to small but wen whe get over a trillion alarms will resonate.
If we go deeper into the subject and let say it goes to 100k this would mean that the inflation would look like the one in Venezuela ok maybe not Venezuela but you know what I mean.
100k would be like 20k or 10k.
The technology will survive but Bitcoin will exist until 2032.
By the way 2032 is the year that the west will loose its economic power to asia .
The main reason that Bitcoin had this bullrun is because the Chinese use it to smuggle there money out of China. 80% of terminals where in China at that time.
Interesting how we all have our own rationales. I try hard to stay away from fundamental analysis or stories or news or events and purely rely on Technical analysis. The reason is because price is the mose immediate reflection of sentiment or mass psychology. This is why I often say that news or events will arrive to justify the forecast. To each its own.