TheKingofKraken
Long

BTC - Is Bitcoin Actually A Bubble?

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
Here's where I currently stand with Bitcoin:

BTC:
SHORT TERM - BULLISH
MID TERM - BULLISH
LONG TERM - BULLISH

Taking a look at short term at least, we see a bounce off the same Fibonacci Retracement level twice and we see a golden crossover in our MACD . I would be willing to make the bet that Bitcoin             is green in the next day.

Now for our long term doubters, how can you consider Bitcoin             to be a bubble?

A bubble by defintion in history is when something exceeds its "intrinsic value". However, the true intrinsic value of bitcoin             could potentially be tenfold that of the price today.

Let's take a look at graphs that look similar to Bitcoin's growth. For example, here is the Size of The Federal Reserve Balance: https://pbs.twimg.com/media/DQJ-XxMW4AA3kdh.jpg:large

Correct me if I'm wrong but doesn't that look almost identically like the Bitcoin             graph. Would the Federal Reserve consider their own existence to be a bubble? They surely consider bitcoin             to be a bubble and Janet Yellen has gone as far to consider it a "highly speculative asset" and " legal tender".

If you take nothing else out of this thread, listen to this: Bitcoin             is a currency and assest like no other, in fact, it has created its own asset class. If you believe that Bitcoin             will exist in some form in the future, then by all means invest into it today and join me in benefiting from its growth

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