RE: ELON MUSK AND BITCOIN - isn't it worrying to see how one person can influence an entire industry with a single tweet?
While Elon Musk can move whatever market he comments on in a short period of time, the longer term trend for Bitcoin is positive. The reach of Bitcoin is now closer to mainstream in the past two years than ever. PayPal, Square, Mass Mutual – all have contributed to the rise in the price of BTC. It will be interesting to see what the next couple of months bring. Thus far we've been able to stay in the $30,000 -$34,000 range pretty consistently. If that range can continue I see potential for a rise to $50,000 happening in 2021. The key for the average person is to ask , "Am I trading or investing in Bitcoin?" If you're trading, don't get caught on the wrong side of the price swing or you'll be very unhappy. If you're investing, add on the dips and repeated support levels in the $30,000 range.
I agree with your comment about if people are "trading or investing". It would seem reasonable that there would be at least four types of players:
1.-Large institutionals that trade
2.- Large institutionals that invest in order to protect from potential inflation
3.- Fractional BTC owners that invest in the long term
4.- Fractional BtC owners that want to trade in a day to day basis (either because they are learning or want a get rich quick scheme)
Would you agree?
Yes! I would agree with your assessment.
hi again @davidgutre
I've just posted new article about Elon Musk and Tesla. Perhaps you will find it interesting and worth your time. I surely would enjoy reading your feedback:
https://steemit.com/hive-175254/@crypto.piotr/elon-musk-and-tesla-the-blessing-of-a-threat-for-bitcoin-and-crypto-space
Cheers, Piotr
Thanks! If I could be tagged I would greatly appreciate it to notice your posts (which are AAA level!)
Dear @tsharpaphi
Late thank you for your valuable feedback. And allow me to wish you to have a great weekend :)
ps. Upvoted your comment with 50k SP already.
Cheers, Piotr
hi again @tsharpaphi
I've just posted new article about Elon Musk and Tesla. Perhaps you will find it interesting and worth your time. I surely would enjoy reading your feedback:
https://steemit.com/hive-175254/@crypto.piotr/elon-musk-and-tesla-the-blessing-of-a-threat-for-bitcoin-and-crypto-space
Cheers, Piotr