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In the last two weeks, the bitcoin price took off. I felt that this was going too fast. After almost reaching the ATH from December 2017, bitcoin’s price plunged from 19,000 USD back to 16,500. Many people ask why that happened. There are many explanations. But in the end, it is always the same. If the price skyrockets in a short period of time, it will always fall back. Time to breathe again, educate yourself on Bitcoin, and buy the dip.
Why Bitcoin now? Differences to 2017
“This is the chance for the greatest wealth transfer the world has seen. I hope less privileged individuals will take their share of bitcoin now. 2021 is going to be a wild ride.” - Anita Posch
This phenomenon will be shocking. Look at that liquidity on exchanges during the previous runup and the whole bear market. It's vanishing. Hodl fomo is a far stronger force for scarcity than the halving. It will be shocking. https://t.co/PehUzjSozl pic.twitter.com/v6n0JsDXVq
— Brady Swenson (@CitizenBitcoin) November 21, 2020
#Bitcoin bull markets are characterized by a decreasing BTC supply held by hodlers, as long-term investors move old coins in order to take profits.
— glassnode (@glassnode) November 19, 2020
We started to see this trend last month, as the long-term holder supply has decreased by ~300k BTC.
Chart: https://t.co/hsvuw6nPML pic.twitter.com/KV1XWsnCDG
A funding source for transactions? What does this mean? I pay with bitcoin and PayPal pays the merchant fiat? (not that I would use PayPal for any bitcoin transaction) https://t.co/nF6E9coEtc
— Anita ⚡🍊🏳️🌈 (@AnitaPosch) November 23, 2020
this basically tells me that the bulk of the rally is attributable to buyers that only operate M-F 9 to 5 western business hours. makes u think!
— nic 🌠 carter (@nic__carter) November 23, 2020
Even Deutsche now includes Bitcoin in its "official" list of assets. It's also the best performing one pic.twitter.com/vfxArFoupz
— zerohedge (@zerohedge) November 26, 2020
“You can’t put the bitcoin cat back in the bag.” - Sean Ono Lennon
The son of John Lennon has been a Bitcoiner since 2011. Orange Pill [OP15] - Bathing in Alien Technology with Sean Lennon
First time you can watch my podcast interview of the week too:
Roselyne Wanjiru: Bitcoin in Kenya
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$ 16,908.96 | € 14,176.41 Source
No financial advice. DYOR.
