What do you mean? Bitcoin has already mooned, 3 years prior to the current recession. Remember the 2 year bull-rally 2015-2017? That was the moon or should I say bubble…
The 2017 Ultra Moon was
- extremely over-extended from the cost of production,
- extremely overvalued for a unfinished product
- Completely defeats the purpose of Bitcoin.
Bitcoin can be a get-rich quick-scheme in the deratives market but it wasn’t intended to be one. Bitcoin has real utility; it’s purpose was to provide a safe-haven against the Federal Reserve infinite money glitch but unfortunately mass-media, lies, hype, over-speculation and greed have completely altered it’s original purpose/utility.
I am right. You cannot justify a $20,000 price-tag for a anti-inflation currency that can’t fucking scale. I don’t hate Bitcoin but 20k for a coin that can’t scale is total retardation and I took full advantage by shorting it.
If Bitcoin could scale. I wouldn’t be writing this post. If Bitcoin could actually fucking scale and serve as a alternative world wide borderless currency, it’s valuation would be in the millions, period. Hands down – millions!
Why Bitcoin still can’t scale ????? There are allegations that Blockstream is controlled by the Bilderberg Group. Form your own judgement, do your own research. There is no proof only theory so take the theories with a grain of salt.
Just realize this Other Bitcoin alternatives like BitcoinCash and BitcoinSV that can scale, that can serve as currency are severely attacked by mainstream crypto-outlets and for what?
Take my advice, until Bitcoin can scale, treat bitcoin as a trading vehicle do not rely on hope and memes like stock to flow.
Until bitcoin fullfills it’s prophecy as anti-inflationary hedge against FIAT., bitcoin will continue to be used as a PumpAndDump vehicle by institutional traders.
2020 Consolidation near 200 WMA
Zoom-out, switch to the weekly and look at the bigger-picture, we’re still correcting from that 2 year long bull-cycle. This drop was imminent, corona-panic gave it some juice. The same hidden forces that bought Bitcoin in 2015 under $100-$300 are the same hidden forces. (metastable, horowitz, dgd)
- that sold their bitcoin at $18,000-$20,000
- funded and own few of the mainstream crypto media outlets that spew the same garbage.
- Probably masterminded the viral stock2flow meme.
My prediction is sideways between 5xxx and 8xxx throughout 2020, with a few shakeouts in between but we won’t close below the 200 Weekly MA. This is the re-accumulation phase.
Previous forecast came true.