In The Last Week We Have Seen a Flurry of Bitcoin News on Mainstream Media.
Whenever I see the media talking about Bitcoin or anything hot in investing I start to think we are nearing the peak. Personally I think we are near a peak for this cycle. The night before I shorted Bitcoin at $2100 thinking that was the peak. Here is a link to the article Bitcoin Trading Story, Beware the Bull.
I was about 8 hours too early. If I would have shorted at $2200 instead I would be able to have a nice down payment for a house, just sayin. We could continue to rise here with the Segwit news but I believe that will occur when we have more consensus. I am treading cautiously here at these levels.
This is Why I Think We are at The Top.
Here is a list of the stories on mainstream media in the last week, taken from Google News.
Mashable-The $80 billion question: Why are Bitcoin and Ethereum growing so fast?
Forbes-Bitcoin Is An Asset, Not A Currency
Fortune-Bitcoin’s Murkier Rivals Line Up to Displace it as Cybercriminals’ Favorite
Investing-Bitcoin rally keeps going; tops $2,200
New York Times-What Is Bitcoin? All About the Mysterious Digital Currency
Barrons-Trump and Bitcoin: Two Peas in a Pod
The Guardian-Digital gold: why hackers love Bitcoin
The Street-Is Bitcoin Safer Than Gold?
UNILAD-If You Invested $100 In Bitcoin In 2010, You’d Be Worth $72 Million Now
CNBC-If you bought $100 of bitcoin 7 years ago, you'd be sitting on $75 million now
Some of the Stories Have to Do with the Ransomware Attack and Others with the Price of BTC.
Here is the Google Trends for Bitcoin over the last 7 days. This is the amount of times people do searches for a particular topic.
This is the chart for the last year.
In India, Government has asked public for its opinion about Bitcoin, so there is huge discussion on what Bitcoin is, and seeing the profits in last year, money getting doubled, a lot of people started investing here.
I think that the price rise would be stabalised near 5000$, but it is too early to say so.
Nice piece. I would agree that we are at the top for now
I read a Bitcoin article on Yahoo Finance yesterday as well. Looking for a better entry point on a pullback.
everyone wants to buy into the hype now its crazy how everyone is a follower these days and not go with there gut! if you can stop by my feed and help spread the steem would mean allot thanks!
When (not if) Bitcoin does correct, expect a lot of flows into other cryptos. I think its price could rise still more short-term in anticipation Segwit developments though.
Yes, that is the one thing I think will keep it going for a while longer.
The media might be talking about it but the average joe isn't. Ask any one on the street what Bitcoin is and you'll get a puzzled look. The Bitcoin run is barely starting :)
Good point.
I was just about to post the same, I totally agree with you.
Just to clear I was in agreement to this statement!
The media might be talking about it but the average joe isn't. Ask any one on the street what Bitcoin is and you'll get a puzzled look. The Bitcoin run is barely starting :)
Bitcoin along with others cryptocurrencies have a long way to go,
even though bitcoin is old and outdated( my opinion) I still think bitcoin will rise much higher just because it's a crypto standard
Actually, you are on to something. There's a big dump predicted soon for BTC. I think you are on to a technique.. If BTC dumps large, it'll spook investors into other places.. That's what the enemy does. Very good catch. I bet this is to pump people in then dump on the price.
The Elliot Wave model is the best way to predict a market and it repeats over and over and over again.
to some the truth hurts but as for me i love it
This is just the beginning, hardly anyone owns a Bitcoin or other crypto, most people have no idea what they even are yet.
The further the king dollar descends, the more potential there is for Bitcoin and other crypto. Of course this will not go down without friction and resistance. The powers that own the dollar will try to control the crypto, or to get rid of it if possible. So, one battle is won, but not the war.
I think we're not at the top yet, but we sure are close to a shifting in the economics behind all this, as a lot of pumping and re-investing was going on. There are a few people all-in on this, while the real technological advancement is more or less a standstill in reality (bitcoin is still working like it was in 2014) ... Ehtereum is strange in my opinion... the inflow of money is now higher than the supply added... but that will soon change. I would stop buying now and see what happens. You can't lose if you don't buy in :)
@Strimbello thanks for commenting. I followed you. Now it would be good if you did and introduceyourself post. Use the introduceyourself tag when doing it and make sure you have an image. Welcome to Steemit!
A better question might be - Are central banks done printing fiat currency now?
There will likely be a correction for speculation in the short-term but long-term this is nowhere near the top for crypto - this is still the beginning. There seems to be a pattern of excitement during these big conventions and then duldrums/correction afterwards.
We do not yet have dapps as ubiquitous as the standard website; the current crypto-millionaires are going to be multibillionaires if they continue to support the development of the crypto space. I simply hope they use their advantage to promote liberty and freedom for all - it's more valuable than money.
Great article, I Believe that Bitcoin toped at $2200., now I do believe there will be a pull back and we will see it pass the $2200.
Thanks for sharing.
It could slow down for a while. I wouldn't even mind. Everything is insane right now.
Cryptocurrency a threat to the system perhaps??? Is the issue over control of the common people who are under the radar and unable to be spied upon? Just asking.
Не паникуйте..))...он только начинает свое восхождение...,..лет через 5-7 вспомните...
resteem and upvote for you....