Transactions are 'expensive.' They are a 'waste of electricity.' There are dozens of other coins that 'do it better.' Lightning network will 'never happen.' You can't cash out. Technicals are totally 'overbought.' Futures will be used to crash the market. We haven't had a 'proper correction' since...
Here's the deal; The FUD is 'priced in' and it doesn't matter. The only thing that matters is demand versus supply, and it is very safe to say that demand will far outstrip supply for many weeks to come. All it takes to realize this is a simple thought exercise:
Let's suppose that only a million regular people want to buy an average of .05 BTC each (roughly $800 as of this post) this coming holiday season.
Take a moment to imagine just how reasonable this is (extremely) and then think about the volume of demand that this represents: it's a buy wall worth over 50,000 BTC.
Remember, that isn't counting institutions and high-net worth individuals who would contribute even more to demand. Selling or shorting into this much demand hoping for a dump is, simply put, stupid.
If you're a fan of charts, I've included the past 2 FUD cycles. They represent the same supply/demand dynamic, and the similarity to the current chart suggests more of the same to come.
There is no reason to be anything other than LONG right now, looking for 20k or higher exits.
Here's the deal; The FUD is 'priced in' and it doesn't matter. The only thing that matters is demand versus supply, and it is very safe to say that demand will far outstrip supply for many weeks to come. All it takes to realize this is a simple thought exercise:
Let's suppose that only a million regular people want to buy an average of .05 BTC each (roughly $800 as of this post) this coming holiday season.
Take a moment to imagine just how reasonable this is (extremely) and then think about the volume of demand that this represents: it's a buy wall worth over 50,000 BTC.
Remember, that isn't counting institutions and high-net worth individuals who would contribute even more to demand. Selling or shorting into this much demand hoping for a dump is, simply put, stupid.
If you're a fan of charts, I've included the past 2 FUD cycles. They represent the same supply/demand dynamic, and the similarity to the current chart suggests more of the same to come.
There is no reason to be anything other than LONG right now, looking for 20k or higher exits.
Comment:
Ol' reliable