31 Mar '17, 4pm

Markets Update: Bitcoin Bulls May Be Prepping for a Charge

Markets Update: Bitcoin Bulls May Be Prepping for a Charge

I’m more inclined to believe the bearish scenario. Here’s why: 1. The ‘Bitcoin Civil War’ is still in full bloom. Bitcoins value is attributed to growth; aka the Network Effect, imho. If we don’t fix growth; why would an investor buy in? 2. There are several factors not counted in. Look at the Chinese Yuan prices; they had the withdrawal moratorium in effect now for a long time, but the fact that the yuan price is $100 less should tell you something: Chinese investors are not buying into this price trend. I also believe that the moment that the withdrawal moratorium is lifted, we will get an ‘exchange run’, much like a bank run, but pulling out bitcoins to fiat. If that happens, we will see 800 dollar Bitcoin. 3. Bitcoins decrease in dominance have given more creedence to previously very small alt-coins. If we see an exodus to alt-coins, bitcoin’s capital base, and thus it...

Full article: https://news.bitcoin.com/markets-update-bitcoin-bulls-pre...

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