BharadwajRallabandi
Long

Is the correction really over? Think again

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
Let's take a look at BTC             in Log scale. The last 6 months have been hyperbolic, parabolic to say the least. Let's get to some fundamentals shall we?

When speculation outweighs utility of anything, it's a bubble. Blockchain in its current form is not scalable to average user.
The average TPS for current bitcoin             transactions is only 7, and segwit may double/triple it. For BTC             to become new money, there needs to be a major technological advance.

Or, thinking about BTC             as the new gold             , Bitcoin             ETFs need to be opened so that general public without much computer/crypto knowledge can own bitcoin             .
I think crypto winter is here, for the short term. Let's see if lightning network can successfully scale bitcoin             to the masses. If that happens sky is the limit!

Until then, speculation outweighs utility and we probably won't break 20k anytime soon( Unless Bitfinex decides to print another 2 billion Tether and pumps up the price again)
Comment: using log scale really gives you a different perspective in life, doesn't it?
Hmm
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out