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Bitcoin is preparing for a “big move”, Ethereum could rise 3000%, the 2017 peak could be wrong and much more

June 19, 2020

This week, Bitcoin’s price was struggling to break something, but it failed to break a plate. The low volatility of our restless friend causes us to scratch our heads. The resistance was not broken, but the support was not broken either. I mean, we are frozen in space. The $ 10,000 barrier has proven to be cement piñata. And good, The $ 9,270 mark has so far maintained pressure. However, decisions have been postponed for a long time and we are now reaching the point of definition. May God confess to us! Take a seat and buckle up, because anything can happen here.

Now let’s take a look at the week’s most read crypto messages.

Whether we want to admit it or not, Bitcoin is basically a speculative asset. Of course, this is not necessarily a bad thing. There is nothing wrong with speculating. That means we are waiting for our assets to grow in value in the future. For some reason, however, the concept has been stigmatized. Suddenly speculation is immoral. In my opinion, this is completely absurd.

Bitcoin is preparing for a “big move”, Ethereum could rise 3000%, the 2017 peak could be wrong and much moreBitcoin is preparing for a “big move”, Ethereum could rise 3000%, the 2017 peak could be wrong and much more

When I say that Bitcoin is essentially a speculative asset, I am not using the term in a derogatory sense. I’m just saying that this asset discovers its price in the convergence between buyers and sellers. In other words, supply and demand. Almost all assets find their price this way, but above all Bitcoin a little more. In Bitcoin, the subjective is usually more important than the basics.

For example, when we talk about a company, there are other variables that affect price. We have the assets, sales, expenses, level of debt, available capital, market position, employees and the efficiency of their managers. By that I mean that when Bitcoin’s price goes up, there are more buyers than sellers, and when it goes down, the opposite happens. As simple as that.

Of course there are moments of balance. And the market sometimes moves sideways. They are consolidation periods. The low volatility shows that the market is very happy with the current rate because the indecision is very low. Now this will not take forever. Sooner or later, it’s time to make decisions and choose a trend.

Many of us are so focused on Bitcoin that it is difficult for us to see that Ethereum has managed to consolidate a very important community. Whether we like it or not, the project. Obviously, a lot of people like the product. In addition, Ethereum has the great advantage of being the undisputed leader of a new and emerging market. Bitcoin is home to libertarians and investors. But Ethereum has become home to many developers. Ethereum is honey for nerds. We can criticize many things about Ethereum, but we can’t deny that something has to be present to attract so many developers.

The Ethereum community builds things. And that deserves respect. Of course, we have not yet seen the great application that will conquer the world. So far everything has been a big promise. The founders are billionaires today because they were very good at selling promises. With Ethereum everything is tomorrow. Ah, but we cannot fall into cynicism and assume that anyone who promises will not keep. A lot is being invested at the moment and many developers are working. That is, they plant times. Ethereum is a big shed full of programmers who are frantically writing codes. I don’t know what will become of it when it’s time to harvest, but something will come out. I find it difficult that so much work ends in nothing. Bitcoin and Ethereum will surely grow together.

There are many bad projects, but not all projects are bad. Of course, that doesn’t mean we should invest in everyone. It is always useful to think of projects as movements, not simple numbers that vibrate on a monitor. Any asset can win a short race, but only a few win the marathon. Supply issues, time issues, community size issues and infrastructure issues. But you also need to know what you are talking about. Do we know the problem that is being solved?

There are very technical projects for the average person. If you don’t know what a smart contract is, what are you investing in Ethereum? If you’re not interested in decentralized apps or just think they have no future, What are you investing in Ethereum or EOS? For me, it’s common sense. Before you invest, you need to know and believe. It is best to invest with heart and nutrition.

It’s not about romanticizing the thing. It is also not about badly earning money for money. The key is that good products are generally (in the long run) excellent investments. Each project can “beat” another one in a few weeks or months. But the big projects will be here for decades.

If we live on an island for a long time, we can make the mistake of thinking that our tribe is the world. We often assume that our ideas are everyone’s ideas and that we all have the same wishes and needs. However, when we were traveling, we found that not all of us speak the same language. In addition, many think that our words are nonsense. Yes, crypto is a strain.

Cryptocurrency enthusiasts often think that they came to this blue planet to save humanity from their own ignorance. So they start talking to asymmetric crypto-grandma, hashing algorithms and the Merkle trees in the blockchain. At this point, grandma is already thinking of calling her other grandson to buy the bread because he has obviously gone mad.

When we leave our tribe, we realize that this world belongs to ordinary people. ANDWhether we like it or not, ordinary people don’t think of Satoshi 24 hours a day, nor do they make great efforts to ensure security and custody of their private keys. Normal people run away from highly volatile assets in times of crisis. Point. Ordinary people still trust the dollar and the banks. They don’t fall much into the anti-system paranoia of the world’s grandchildren. And with this type of Bitcoin, she’s still not entirely sure. The famous phrase: “Well, I don’t know.” But it is ordinary people who really increase the price of the markets. You will invest in Bitcoin when it comes into fashion.

Timothy Peterson discovers warm water here. Great headline and amazing revelation, but nobody wants to go to the theater yesterday to hear a newspaper reading. 2017 was of course a crazy year. And of course, Bitcoin wasn’t worth $ 20,000 at the time. It was all FOMO. And the price said it. This maximum lasts for minutes. The market just couldn’t keep it up. Handling? You’re right. We are manipulated by the family. Won’t the market manipulate us? Obviously Tim. Obviously.