cryptostuffdude

bitcoin can easily go to 160k in 2020

Long
BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
long term price movements can only be judged on log chart.

sense of scale is imperative and proper % comparison to past price movements

Comments

I made this because of a discussion on linear being ok for crypto.

imho it isn't. linear tends to make people too focused on short term rallies or "crashes", when in reality, on a longer time frame, bitcoin acts in an extremely predictable and easy to understand fashion.

bitcoin should not be seen as a mere investment vehicle.

bitcoin is there to replace existing technology. as such, even a constant, nonstop uptrend would be valid.

the car linearly replaced the horse and carriage, without retracements or "relative strength" issues.

the iPhone replaced the old Nokia cell phones in a linear fashion.

looking at everything through the prism that fraudulent Keyensian assets have created for decades is foolish and unhelpful.

it's also self sabotaging because it clouds people's understanding of tech vs asset and spawns exactly the setbacks in price that shouldn't even happen, if people were more aware we're looking at a technology, not a commodity of sorts.

self fulfilling prophecies are a bitch.

of course, the larger trend can not be changed, unless bitcoin completely fails. and if that happens, we've got way bigger problems than lost money.

since it's inherently superior to current ways of defining money and assets, the abuse of rights and markets that would need to happen to kill something like bitcoin would likely spark a complete dystopia or civil wars or both.

I don't bet on my own destruction. it's a lose-lose
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