BharadwajRallabandi
Panjang

Is the correction really over? Think again

BITFINEX:BTCUSD   Bitcoin / Dolar
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)
Komen: using log scale really gives you a different perspective in life, doesn't it?
Hmm
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