BTC Long 240 until further notice
Why Now?
Bitcoin grew up in garages, surrounded early on by hackers, libertarians and anarchists looking to develop an alternative monetary system. What infrastructure that was needed beyond the core protocol was patched together mostly by hobbyists. The first use cases to get notable press were controversial and I am not sure it would of gotten press otherwise. Wikileaks started accepting it for donations but the organizations publication of government wrong doing wasn't well received. After that came the silk road bust, an even more controversial spectacle. After the global press storm the largest bitcoin exchange went bust, giving every journalist all the ammunition they thought they would need to announce the death of this controversial commodity.This 18 month downtrend and negative association is very much deserved but that all may be about to change. Over the last few years Bitcoin has seen venture capital funding at rates and sizes not seen sense the early days of the internet. Governments proved that this digital frontier was not outside their grasp and sense then regulation has been forming all around the globe. The recent announcement of the NASDAQ using Bitcoin technology is the first notable example of an enterprise grade use case beyond currency. If new services start proving that there is more than black market value by working with this technology, there could be a large amount of interested investors that may still be thinking of Bitcoin in a knee-jerk reactionary way.
I could be wrong but I am going long until further notice.
Why 240? I drew lines.
Bitcoin grew up in garages, surrounded early on by hackers, libertarians and anarchists looking to develop an alternative monetary system. What infrastructure that was needed beyond the core protocol was patched together mostly by hobbyists. The first use cases to get notable press were controversial and I am not sure it would of gotten press otherwise. Wikileaks started accepting it for donations but the organizations publication of government wrong doing wasn't well received. After that came the silk road bust, an even more controversial spectacle. After the global press storm the largest bitcoin exchange went bust, giving every journalist all the ammunition they thought they would need to announce the death of this controversial commodity.This 18 month downtrend and negative association is very much deserved but that all may be about to change. Over the last few years Bitcoin has seen venture capital funding at rates and sizes not seen sense the early days of the internet. Governments proved that this digital frontier was not outside their grasp and sense then regulation has been forming all around the globe. The recent announcement of the NASDAQ using Bitcoin technology is the first notable example of an enterprise grade use case beyond currency. If new services start proving that there is more than black market value by working with this technology, there could be a large amount of interested investors that may still be thinking of Bitcoin in a knee-jerk reactionary way.
I could be wrong but I am going long until further notice.
Why 240? I drew lines.
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