wry Posted June 17, 2019 #1 Posted June 17, 2019 Now that Bitcoin hasn't gone to zero and Facebook has legitimized the entire crypto ecosystem the mainstream financial press is starting to pay a little more attention. There was a great article on Marketwatch, link below, that talks about how the December 2017 run up was driven by retail investors, many in Asia, this 2019 one seems to be driven by institutional investors who may be waking up to the potential of blockchain in general and Bitcoin in particular as a contrary asset. As support for this they cite the large growth in futures trading. I found this really exciting because it suggests that this may be a long powerful rally rather than the rapid upswing we saw in December 2017. What do you think? Link: https://www.marketwatch.com/story/why-bitcoin-hasnt-gone-to-zero-and-is-now-knocking-on-the-door-of-10000-2019-06-17
williamshennie9 Posted June 18, 2019 #2 Posted June 18, 2019 I really can't tell if this price boom is the new market sediment, or whether the price is so high because of whales planning to make a massive sell order soon. It is super difficult to tell, and I have no idea. Perhaps this is the price that the market deems acceptable for bitcoin?
SirKappa3000 Posted June 18, 2019 #3 Posted June 18, 2019 I must agree with William, in my opinion the market at this moment is too volatile to be able to say anything about it because of those few people who invested massive amounts of money and are looking to cash out.
wry Posted June 19, 2019 Author #4 Posted June 19, 2019 It is always impossible to know what the price will do. However, what's interesting is trying to figure out who is buying or selling and why. That is why this article was so interesting, in looking at what was traded, and where it was traded and especially HOW it was traded (futures), it suggests a different group is buying Bitcoin. That is exciting news.
DreamStage Posted June 21, 2019 #5 Posted June 21, 2019 Well those kind of speculations are the ones that bump price up even little further. Due to so many speculations going on plus Facebook Libra coin drama thing we are already seeing Bitcoin reaching those $10.000. It is just a matter of time till it breaks this year limits once again and i am on the edge of watching it doing so
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