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RE: Bitcoin to make 2 new highs and then retrace to the $1k level?
Yes I agree, but what about if the lightning network is implemented and then bitcoin is able to do what every other crypto can do, only faster and cheaper?
The lightning network sounds great but won’t solve all problems. My understanding is that it’s effectively a point to point ledger that tracks transactions between 2 (or more) participants and only settles on the btc chain when they request it. This is great for transactions between 2 or more participants who regularly trade between them but is useless for one off transactions. I have t seen anything that shows how many transactions this will take off the chain.
Hasn't the lightning network been implemented already with a lot of nodes already launched?
That of course would change everything. But then, in this scenario, the graph above would look very different, in my opinion!
Haha yes, that very well could be the case.