Seems like we are recovering quickly from this last shakeout of the weak hands. But why are those periodic with nearly exact time intervals?
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screen shot pcWell I'm not sure about a parabolic rise.
The reasons come down to the very technical problems of bitcoin. I made a transaction 3 days ago and mempool was so full it took 14h to complete. Oh my fees maybe weren't the best but they were clearly not non-existent, I paid 30 cents for a transaction that took 14h...
So there can't be a parabolic rise without a massive adoption and there can't be a massive adoption with such important problems!
But I agree, you have to be completely crazy to see anything else but and upper trend in this...
Wrong, there CAN be a parabolic rise without massive adoption... it would only take the big whales of the fiat, gold and stocks gold to move small percentages of their wealth into bitcoin to drive the price to 6 figures a coin, but of course, we ideally want massive adoption too, but the thing is, without segwit + lightning network we will never have massive adoption. The devs are doing a good job, they already got segwit, now it's miner's turn to hurry the fuck up and activate it already. Blame it on them.