After last month's long run from $6800 to $9900, BTC needs to accumulate more power to beyond $10k, which is a significent pump for market's confidence, now it's going to test support for 130 MA(4 hours).
As always a long supporter, I cannot say it's time to $10k, we will see another 2 or 3 months for the market to recover. Any market will not recover so quick after such a bear run.
As many other altcoins going to publish their products, like EOS, ADA, ARK, 2018, this year, we will see the market to become more and more muture. More real projects will survive in the cryptocurrency field, and get their own Ecological niches. For example, BTC will replace Gold, ETH will be more like a country, or vast grassland, to fuel new species.
Why BTC will not become a currency, the fundamental reason is its most advantage - limit supply. As economy growing, limit supply will lead to deflation, which cause BTC to value up, people will hold their BTC, such will prevent ecomony from growth. The BTC has so many common point with Gold, and will be the best replacement of Gold.
I cannot agree with Buffett, in the beginning of South Sea Company and Tulip foam, there are not so many people against them. Buffett's partner Charlie Munger said, people tend to try to understand one thing with relevant easy-understanding things. This is a technology that changes the world like .com once did. There will be big companies survived, to become next Google/Facebook. We should not just listen to what Buffett said, we should think by ourselvies, and take Buffett's way of Value Investment, just invest in these promising projects.
Thanks.
As always a long supporter, I cannot say it's time to $10k, we will see another 2 or 3 months for the market to recover. Any market will not recover so quick after such a bear run.
As many other altcoins going to publish their products, like EOS, ADA, ARK, 2018, this year, we will see the market to become more and more muture. More real projects will survive in the cryptocurrency field, and get their own Ecological niches. For example, BTC will replace Gold, ETH will be more like a country, or vast grassland, to fuel new species.
Why BTC will not become a currency, the fundamental reason is its most advantage - limit supply. As economy growing, limit supply will lead to deflation, which cause BTC to value up, people will hold their BTC, such will prevent ecomony from growth. The BTC has so many common point with Gold, and will be the best replacement of Gold.
I cannot agree with Buffett, in the beginning of South Sea Company and Tulip foam, there are not so many people against them. Buffett's partner Charlie Munger said, people tend to try to understand one thing with relevant easy-understanding things. This is a technology that changes the world like .com once did. There will be big companies survived, to become next Google/Facebook. We should not just listen to what Buffett said, we should think by ourselvies, and take Buffett's way of Value Investment, just invest in these promising projects.
Thanks.