What is Bitcoin? Who backs this digital cryptocurrency? What could happen if other countries join China and ban the mining and use of Cryptos? Why hackers and black market uses mainly Bitcoin? (untraceable)
A crazy idea of what could happen should more countries (i.e: G-7) decide to ban BTC for the high mining costs as China did recently.
Never traded a single Crypto but I regret not having shorted BTC at 60k when I had it clear it was time to crash.
I have no interest in this so I'm just sharing a catastrophic view from the technical and fundamental point of view, including some history details.
There are more "fools" than bitcoins available. So +14K or so worst case scenario before "fools" rush in.
VIP_Trading_Technologies
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@kenshintani, It could perfectly be. 14K seems another interesting point to watch out. Thanks for sharing. I'm very interested on this amazing crypto phenomenon but not for trading.
UnknownUnicorn15881386
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your analysis is taking fundamentals and trying to predict the chart but if your analysis would effect the chart it would never have gone that high
VIP_Trading_Technologies
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@Joelsaccount Hi, thanks for your comments. As a trader I'm trying to understand the phenomenon of BTC behind it. The only thing that somehow justifies current correction is the possible HS pattern in play.
i never understood tho how come it went to 60K in such an aggressive way. In fact even 1k seems way to high if you compare it with other cryptocurrencies. That's the beauty of it. :) Cheers
ro.goudreau
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Bitcoin, is legal tender in El Salvador, and that's just the beginning.
VIP_Trading_Technologies
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@Ro.goudreau I agree, the beginning of the end with no doubts
@Ro.goudreau, So that avoids us sanctions as well......let that sink in. How long then before more countries adapt? digital, crypto, what u want to call it, it's coming. Is that a bad thing? does it become centralized? who knows, we all wonder....for now we trade what makes sense. One thing for sure the system we have had in the US for the last 50 years is on its last breath.