Complete Bull Trend Recovery or Deflating 2013-Bubble Style
Chart is pretty much self explaining. Those are 2 ideas for this year developments.
Just a few remarks about latest FuD:
- China market closure - The "China banned Bitcoin" Shitshows goes on for years now. First time when it dropped 60% from November 2013 peak due to "china is banning bitcoin" anouncement. China finally closed their market for Crypto Trading in beginning of 2017 already (!), when it was at 1k. What they do right now is they merely "ban" visiting Crypto WEBSITES like exchanges. But as every chinese citizen knows, you can still visit them using a VPN just as they do when they use Facebook or Twitter.
- Banks "banning" Bitcoin - Banks around the world just blocked Credit Card owners from buying Bitcoin: But they actually didnt ban access to crypto. They just banned BUYING of crypto on CREDIT because to many newbies bought on the top with lend money and are now unable to pay their massive debts back. The media sold this as "ban". You can in most cases still buying bitcoin with a Visa Debit Card using your OWN money.
- Recent hearing statements from SEC and CFTC were bullish
- expect more regulation globally this year which should be bullish for Crypto generally as it paves the way from black market money to a recognized payment and value exchange model. We saw how Value in BTC increased dramatically when China finally closed down shady exchanges and prohibited market manipulation. Bitcoin went up 20times after the chinese ban. Chinese investors will continue buy nevertheless.
Just a few remarks about latest FuD:
- China market closure - The "China banned Bitcoin" Shitshows goes on for years now. First time when it dropped 60% from November 2013 peak due to "china is banning bitcoin" anouncement. China finally closed their market for Crypto Trading in beginning of 2017 already (!), when it was at 1k. What they do right now is they merely "ban" visiting Crypto WEBSITES like exchanges. But as every chinese citizen knows, you can still visit them using a VPN just as they do when they use Facebook or Twitter.
- Banks "banning" Bitcoin - Banks around the world just blocked Credit Card owners from buying Bitcoin: But they actually didnt ban access to crypto. They just banned BUYING of crypto on CREDIT because to many newbies bought on the top with lend money and are now unable to pay their massive debts back. The media sold this as "ban". You can in most cases still buying bitcoin with a Visa Debit Card using your OWN money.
- Recent hearing statements from SEC and CFTC were bullish
- expect more regulation globally this year which should be bullish for Crypto generally as it paves the way from black market money to a recognized payment and value exchange model. We saw how Value in BTC increased dramatically when China finally closed down shady exchanges and prohibited market manipulation. Bitcoin went up 20times after the chinese ban. Chinese investors will continue buy nevertheless.
Penafian
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