Maybe the hedge funds can predict the future? Bitcoin now over $5000
I know I gave the hedge funds criticism and I'm still very skeptical of this market behavior but numbers are numbers. Bitcoin price is over $5000 and it could very well go over $6000. Is the price rising due to the hard fork consequence where people want to benefit by selling alts to get in on Bitcoin in preparation? I have my doubts that this is a natural price increase because new money isn't flowing in like it was.
At the same time the SEC seems skeptical, China banned, Russia banned, South Korea banned, so it's not like there is a lot of good news. Let us hope that we get some good news on the legitimacy front and the legal front with regard to SEC. Hedge funds can push up the price but don' bring legitimacy or utility.
ICO cause all this banned especially those who are not verified. Better to avoid ICO now to stop these kind of scam that bring down the whole crypto community.
There is huge positives for bitcoin right now and not negatives.
Hardfork = free coin for those that hold bitcoin again like we saw with bitcoincash
China = Most likely reentering into the market
ICO = Bans for ICOs makes the money from all those crap coins filter back to where they belong
Simple Supply and Demand = Demand is going up and will continue to do so as more people enter into bitcoin but the supply is limited and working closer and closer to its next halving for miners
hedge funds have boat loads of money and it's coming to crypto... got my boat and ready to ride the rising tide
At this point , I say buy , HODL because eventually it rises . We need to think of it as a long term investment
I think the SEC's concern is that a public market exists for all sorts of different crypto currencies and contracts, and scams, and they are struggling to find ways to control them. A decade or so ago the SEC was not fully empowered as Wall Street turned simple mortgage bonds into complex securities that were rated to be of the highest quality by rating agencies, yet were of high risk of default.
SEC endorsement of any cryptocurrency or token, or fund, would be an amazing thing but they are in no rush to approve these crypto funds as legit securities, then be blamed if a national crash occurred.
The world is leaning towards bitcoin and crypto by the day as the currency of the future and everyone seems to agree to that. Very soon the governments of this world would also come to that realization and stop all the regulations they might be putting up now, the people who have bitcoin at that time will the be the highest profiteers. The best thing right now would be to hold on to bitcoin as a long term investment, definitely a currency that will one day emerge to be the world's centralized money would have to go through its ups and downs to prove its mettle..... #my2cents
Crazy right? Can you image when a ton of positive news comes out for bitcoin or Steem. They would sky rocket. Thank you for your post.
Hedge funds are nothing but opportunists and speculators.
Great post, I appreciate your work, I'm a 20 years experienced trader from Italy, I leave you my upvote and follow, it would be an honor to have you among my own followers!
Interesting thing: then more countries ban cryptocurrency than more its price grows