My previous idea was invalidated. Here is my alternative count.
Buy from levels: 6650 and 6800 with target 8000-8200
p.s.
This is crazy how people are driving by crazy mania and blow the bubble.
Recently I've read some good articles about bitcoin.
The idea is that actually Bitcoin is a bad system for money transfer and cannot be used as money in general. Transfering is way slower then Visa or Paypal and volatility are extremely hight witch produce extream deflation or inflation.
The bubble is produced by Miners + Investors tandem.
Miners need High prices to get back their investments in mining equipment + difficulty is rising exponentially, so they producing mania in media. But actually for bitcoin system, you need only 1% of overall mining capabilities, and even the one old computer could generate the required amount of blocks (1 block per 10 min).
Investors are buying the rising market asset.
And the main problem that percent of people who actually use bitcoins are very low. And why use bitcoin if there are 1000+ altcoins, most of them are better then bitcoin. And miners could easily switch to any of them when the bubble collapsed.
For my point of view, it is better to invest in low price altcoins then in overpriced bitcoin. Bitcoin is only for speculation.
Buy from levels: 6650 and 6800 with target 8000-8200
p.s.
This is crazy how people are driving by crazy mania and blow the bubble.
Recently I've read some good articles about bitcoin.
The idea is that actually Bitcoin is a bad system for money transfer and cannot be used as money in general. Transfering is way slower then Visa or Paypal and volatility are extremely hight witch produce extream deflation or inflation.
The bubble is produced by Miners + Investors tandem.
Miners need High prices to get back their investments in mining equipment + difficulty is rising exponentially, so they producing mania in media. But actually for bitcoin system, you need only 1% of overall mining capabilities, and even the one old computer could generate the required amount of blocks (1 block per 10 min).
Investors are buying the rising market asset.
And the main problem that percent of people who actually use bitcoins are very low. And why use bitcoin if there are 1000+ altcoins, most of them are better then bitcoin. And miners could easily switch to any of them when the bubble collapsed.
For my point of view, it is better to invest in low price altcoins then in overpriced bitcoin. Bitcoin is only for speculation.
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