Bitcoin now heading into a very crucial area between 7500 and 5500. We should see some resistance, but it's up to how much buying there is. People need to buy it in order for it to push back up and I'm not sure enough people are behind the whole, save the world from evil banks and government move. (Nothing against those people). If it starts to break below 5000 it could drop significantly, and it would need to push back up to 10000 for me to want to buy. The big question is, do people want bitcoin and more importantly do they need bitcoin?

I'm not convinced it's yes.
The btc transaction fee problem has been mitigated somewhat already, but it's not getting talked about much. I think the bitcoin name might be a problem going forward. I thought maybe BCH would try to overtake BTC, but many exchanges are adding Ether pairs, not BCH pairs. I also question if the bitcoin name is tarnished? (bitcoin/bitcoin cash/bitcoin gold) I do like the Z Cash (ZEC) derivative for the privacy, but thankfully it's name is not derived from bitcoin. It is possible that the general public might not give 'bitcoin' another chance.
People should buy bitcoin because of it's future utility. Right now transaction fees are high, but as the Lightning Network is implemented across more and more nodes, that will change completely and Bitcoin will be usable at even the micro-transaction scale. We're talking a x100 or x1000 improvement here! Selling now is pure herd mentality madness.
+2 Reply
people need bitcoin definitely but at lower prices..5k will support
+1 Reply
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