https://medium.com/p/ba5f3fcce103
Finding Equilibrium : Searching for the true value of a Bitcoin
Vinny Lingham, CEO of Gyft, discusses some of the current forces affecting the price of bitcoin. A very worthwhile read imho.
Finding Equilibrium : Searching for the true value of a Bitcoin
Vinny Lingham, CEO of Gyft, discusses some of the current forces affecting the price of bitcoin. A very worthwhile read imho.
Excellent article. I agree with everything he wrote.
I also have made the point that Bitcoin asymmetrically favors merchants at this stage. And he points that out well.
Risto you should read that article above. Then you will understand where the selling pressure is coming from and what has changed.
If it turns around I would start worrying after it passes 550
I have a question to the bears. If the price does in fact go the other way at what level will you start buying back? At what level will you panik buy?
so everything lower 550 would be just a bulltrap for you?
i think that will be the problem for the bears, as soon as the green volume bars start to be larger than the red volume bars, it could be the reversal or only a bull trap.
I don't expect a V reversal. I am waiting for it to get errie quiet after everyone has capitulated and exhausted their fiat capital.
I expect a long U reversal.
However working against my scenario is the bottom price rises about $10-15 per week that this drags out.
What is to be gained by denying the current issues we are presented with. (and I'm talking as a 'community' rather than personal or individual gain.)
I repeat: there are no new issues. It is a common scare-tactic to raise some evergreen issues when it is important to fool the newcomers.
Therefore "presented with" reveals you agenda pretty well
