This chart essentially speaks for itself. Bitcoin will likely continue to trend in this long term channel due to the network effect and Metcalfe's Law. Break below or above the channel supports and resitance is highly unlikely as mass adoption continues. We are and remain very bullish on Bitcoin, however, we are ONLY bullish on Bitcoin and XRP while we believe a vast majority of other "alt-coins" will fizzle in the coming years during a mass decoupling event. It is our opinion that Bitcoin will act as the dominant market leader for "store of value" and XRP will act as the dominant market leader in "payments."
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This Content is for entertainment purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained on our Posts constitutes a solicitation, recommendation, endorsement, or offer by MarketMotives or any third party service provider to buy or sell any securities or other financial instruments in this or in in any other jurisdiction in which such solicitation or offer would be unlawful under the securities laws of such jurisdiction.
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