It seems inevitable Bitcoin will sweep the globe. 10k this year was an unbelievable target only a handful of people had a few months back. Now? It seems it would just be the beginning. For that to happen however will take time. We predict after such a long and strong spring bull we will see a steady decline over the summer in order to gear up to autumn harvest like never before.
The BTC seed has now been planted and is officially deep in the soil germinating in the minds of every investor around the world. Now we wait for the seed to grow.
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Here's a theory. We will never see a parabolic rise like the 2 bitcoin saw in previous years. The banks let those slip, not seeing the potential of blockchain. Now? Old world money has accumulated most of the bits and whenever Bitcoin looks like it will start to get too much traction, we can expect very well timed and coordinated pumps and dumps with all the angles precisely played to perfection. Who will win most in these multi billion dollar P&D's? The biggest holders. And they will only hold more in the process.
The principle as old as time itself. What you fight expands. See war on drugs. See war on terror. And bitcoin? War on banks. The financial system. You thought poor people would get rich from this? Yeah, some have and some do.. there are exceptions always.. but this principle works. Who will make the most bank from this bank-less tech? Bingo. B-b-b-banks baby. Banks be making bank. Bitcoin is quite possibly the best thing that could have ever happened to banks. Blockchain tech is going to start saving and making banks enough that they could afford to buy the entire crypto market at market price 10 times over. And where will you be? Right back at the beginning :joy: So what? You think.. you just got bought out and made a trillion fiat notes... but the jokes on you, because after all your hard shilling over the years, crypto finally reaches its end goal and 1 bitcoin is worth a million USD but fiat isn't worth anything anymore, and guess who owns all the bitcoin now? rofl. It won't be you. You might have some.. but they will have about 99% of them. Then, and only then, will the banks let Bitcoin go parabolic. Until then, let the up and down cycle continue as we all move in unison toward our illusory quest of financial freedom while we slowly drip feed our wealth back into the open arms of those we've been running from. They must be loving it.. every new crypto addict is just one more evangelist for the new worlds banking currency. What irony. Every anarchist thinking they are creating a new world while just establishing and making sure the old one can do even better than ever before.
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It would appear to the uninitiated the only thing that was accurate about this call previously was the top of that bull run and the dip that ensued over the following days. In the first chart above, you can see we saw Bitcoin dropping through that strong bottom trend, however it bounced like all creatures do, looking more alive than every right before the slaughter.
Well, the cuts predicted have now been made, and there is blood dripping down the steps from the top of the temple as the long sacrifice begins. When will it end? Like all sacrificial ceremonies, it will end when the Gods give the sign they are satisfied with our irrational rituals.
So what now? Where's the investment going? Many of the issues facing Bitcoin have already been solved by Litecoin, and as you can see from our most recent analysis (see: tradingview.com/chart/LTCBTC/hklu2k3z-LTC-CORE-MELT-INITIATED/), we, along with many others, have begun increasing our holdings of LTC as a safe haven during these times of noobie sacrifice.
Is it the end of Bitcoin? Is it a failed experiment? Of course not. Bitcoin is here to stay. As a store of value and as a long term investment it is a great holding, and as far as moving large sums of money around the world it is still #1 for security and reliability (if you pay a competitive fee), but, we all want to be able to spend our crypto currency on regular things in an even more timely manner. Which is why we now look to Litecoin to save us and right now it is Litecoin who leads the way.
Lol. You compare the "war on banks" with the "war on drugs and the "war on terror" which we now know are complete fictional creations...
The CIA funds their black operation with large scale drug trafficking, this changes the meaning of "war on drugs".
And the USA also funds and arms ISIS, which also completly changes the meaning of "war on terrorism".
So both are terrible comparaisons; Both are fictional wars, they were never supposed to do have a positive effect, their only purpose was to create a public narrative that supported interventionist policies.
Your reasonings are weak at best, Banks won't become more powerful simply by decreasing internal costs with blockchain tech, blockchain tech will hurt them because it offers people a way to protect themselves from inflation; Ff they go crazy with fiat, people will go crazy with crypto.
Banks won't hold 99% of Bitcoins, 99% won't sell, and I doubt they hold the majority of Bitcoin because they came too late, but it's an interesting subject to speculate nonetheless.
sjesul
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Any update?
Alien91
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Ultimate doom porn...I love it! Thanks for your posts. Always creative and illuminating.