I’m not an expert and this is not a financial advice, but it seems obvious to me that with the Coinbase being backed by the New York Exchange, Ethereum working on the Quorum for J P Morgan and all of the bitcoin futures situation with the CFE and the CME coming in December something is about to happen with the price of our golden standard boy in the very near future.
I’m hearing various opinions on Youtube and Reddit regarding the faith of the first cryptocurrency and decided to share my predictions.
First of all, I think that Bitcoin bullish rise over the past month has been totally influenced by the media attention and the Holiday season – when the giant families unite to share rumors. During those reunions one of the cousins would mention Bitcoin and how much money they are (or heard of other people) making.
And bam, everyone starts to pay attention, now – the economy of trust my friends. Those who have heard about Bitcoin before, from the news or other people are paying more attention than the others. No marketing is as effective as the advice of the friend or a relative. With a certain level of conversion, Coinbase (which is already climbing up the Top 100 free apps list on the App Store) gets itself some new users buying on the hype. And the pool of oblivious weak hands is growing.
Bonus: Add to this the Ponzi scheme of the BitConnect for a more complete picture of massacre that is about to hit us.
Secondly, I think that the institutions and individuals with greater handles of capital and power have been keeping an eye on Bitcoin for quite longer than we think. The golden standard of the Crypto-world is the only currency with no leader, nor roadmap, nor any central apparatus to influence, anyhow. Satoshi has wisely chosen to remain anonymous. Bitcoin is a threat, but unlike the other geo-political threats it is decentralized.
It’s far less technological than Ethereum and many other projects, it is slow and expensive, and the 10 major mining pools are dominating its production, cutting out the regular people. Yet, it’s the most expensive digital currency asset. This is only my guess, but I feel like there are a lot of people interested to take over Bitcoin, interrupting it’s mission (whatever it might be).
When Bitcoin drops, it’ll drop bad. The media has been sucking on the Bitcoin news for the past half a year. The audience is gathered, the prices are high and only getting higher as the Holiday season is escalating and the crypto-magic fills the air. I mean, what can be a sweeter story for the Christmas than money materializing out of thin air?
From here we got two possible scenarios. We can either ruin everyone’s Christmas and shake the economy really hard before the New Year, which is the least probable thing to imagine in the Western World. Or we can wait until the entire world is hangover, following the New Year’s night and release the demons when people expect them the least.
The media is in the full position today to manipulate the price of bitcoin due to the on-boarding I mentioned before. The institutional money took their stance, too. Everyone is at the low start, ready to start.
The biggest pump and dump in the history of Bitcoin
is about to happen at any moment my friends. Most probably right after the Holiday season. Yet, the true believers know; the first rule of trading Bitcoin is HODL and buy the dip. Ok, this might not be the official rule, but it is my philosophy and a personal believe formed based on the Bitcoin community research. Again, none of this information is intended to be the financial advice make sure to always do your own due diligence regarding any investment you make.
Let’s see what happens next, my friends, and may Satoshi, Vitalik and the Holy Blockchain be with you.