BitcoinLong
REMEMBER THIS! Very long term analysis fundamental and technical
Bitcoin almost exclusively moves parabolically with higher highs and higher lows. The tops of each bubble are very hard to predict, but the lows are usually a little bit above the previous high. The 2013 bubble started from around 130$ with a top at around 1200$, then price fell to low of around 170$, the we had the peak of around 20,000$. It is likely that the price may eventually fall to sub-2000$ level then bottom out and start going up again.
Bitcoin is still being used and is known by very few people, which gives it infinite upside potential. With such limited supply and relatively small sell pressure I sincerely believe that in the future, the price will reach enormous unthinkable levels.
Its main long term demand driver(apart from speculation), is its store of value attributes. Uncensored, pseudonymous, INFLATION-PROOF(this alone is a huge price appreciation factor), very difficult to confiscate, easy to store large amounts of it, relatively cheap to transfer, immutable, very difficult to attack and more importantly very little incentive to attack. Everyone can profit from it. There is very little incentive to attack it right now. Fiat money aren't currently threatened because of price volatility in using bitcoin making it very risky for doing regular business, therefore making it bad as a currency(for now). With such a huge upside potential, it is not advised to spend bitcoin in any way. It is more seen as a commodity and a speculation vehicle for most, so it isn't a competitor for fiat in existing violently volatile market conditions. Banks and government officials(meaning some people working for governments - not the governments themselves) can profit hugely from this unregulated market.
Government pumping BTC:
coindesk.com/bitcoin-is-exempt-from-vat-says-european-court-of-justice/
October 22nd, 2015: Bitcoin price range: 268 -280$(BITFINEX). Bitcoin Price Range 13 days later November 4th, 2015: 367 - 504$(BITFINEX)
Bankers manipulating the market:
news.bitcoin.com/after-the-boss-calls-bitcoin-a-fraud-jp-morgan-buys-the-dip/
These are just a few examples of how serious this 'game' is. I could include many examples like this if I include China and others.
Risk safely, be patient, be brave and may God be with you!
Bitcoin is still being used and is known by very few people, which gives it infinite upside potential. With such limited supply and relatively small sell pressure I sincerely believe that in the future, the price will reach enormous unthinkable levels.
Its main long term demand driver(apart from speculation), is its store of value attributes. Uncensored, pseudonymous, INFLATION-PROOF(this alone is a huge price appreciation factor), very difficult to confiscate, easy to store large amounts of it, relatively cheap to transfer, immutable, very difficult to attack and more importantly very little incentive to attack. Everyone can profit from it. There is very little incentive to attack it right now. Fiat money aren't currently threatened because of price volatility in using bitcoin making it very risky for doing regular business, therefore making it bad as a currency(for now). With such a huge upside potential, it is not advised to spend bitcoin in any way. It is more seen as a commodity and a speculation vehicle for most, so it isn't a competitor for fiat in existing violently volatile market conditions. Banks and government officials(meaning some people working for governments - not the governments themselves) can profit hugely from this unregulated market.
Government pumping BTC:
coindesk.com/bitcoin-is-exempt-from-vat-says-european-court-of-justice/
October 22nd, 2015: Bitcoin price range: 268 -280$(BITFINEX). Bitcoin Price Range 13 days later November 4th, 2015: 367 - 504$(BITFINEX)
Bankers manipulating the market:
news.bitcoin.com/after-the-boss-calls-bitcoin-a-fraud-jp-morgan-buys-the-dip/
These are just a few examples of how serious this 'game' is. I could include many examples like this if I include China and others.
Risk safely, be patient, be brave and may God be with you!
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