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RE: Bitcoin was NOT in a bubble – the 2017 rise and the 2018 consolidation (Chaos Monitaur–34)

in #bitcoin6 years ago

Dear @majes.tyty

In case I haven't mentioned it yet, thank you for your SP delegation. Our friend @crypto.piotr sent the link to me and, I find the subject very interesting.

I have to apologize that it took me quite awhile to figure out what my answer would be as I understand most of you guys are quoting from this and that source and are closely watching the market.

So, my answer is that bitcoin is not in a bubble by simply watching the overall perception of the governments around the world. No one is making any move to advertise expressly to their citizens to "get rid" of their btc or alt coins. No one is announcing yet that btc is a huge ponzi scam or doing any move (like closing down btc or alt coins exchanges) that would massively affect its general patronage.

Secondly, if btc is just a bubble, why are there a lot of watcher monitoring its value and making a living commenting, predicting and giving their expert opinions on the topic if it does not really matter at all? Furthermore, why is everyone interested to know about these things if it runs the risk of becoming worthless anytime?

Then, there is the cyclical moves of btc whales- transfering their humongous assets from one dormant wallet into multiple wallets- which for me is not a move at all to sell out but perhaps for security or trading purposes because if they did intend to sell out, why have we not heard(even a rumor) of it when we do have a whale watch?

I think that most people who believe that btc is just a bubble are those who wanted to make a quick profit out of it- I think they call them swinger trader or opportunistic trader- I am not quite sure of the term. If anyone out there knows, please inform me. Thank you.

Lastly,like everyone, I too am sometimes confused where btc is going- up or down but as long as its higher than an ounce of gold, I am good. I don't know how the halving of btc would affect us all but,I am hoping for the best.

Kind regards

Anne

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Amazing comment @nurseanne84

Probably I asked you before about droping me short message to my email ([email protected]). Right?

Would you like to keep in touch closer? I would be happy if we could support each other on steemit and establish better and more private communication channel.

I'm not really planning to spam you with emails so you don't have to worry about it :)

Cheers,
Piotr

its all right Piotr...I can always block you.hehehehhehehe But yes, I would like that very much. Happy Chinese New Year!

Good point, Anne, particularly about the many people closely monitoring the entire ecosystem. They're doing so because it's definitely an major change, and definitely worth monitoring.

On a related note, there are now 10s of thousands of people working in the field, with bitcoin and other cryptos. Most of them are very well-versed in the subject, and they know what they're doing and what they're working with.

And, most importantly, they know the potential. 'Nuff said.