So every day on CNBC I see another analysts talk about how Bitcoin' is in a bubble and it's going to be the greatest bubble of all times. (cough cough). Seriously? Cryptos combined do not have the market cap of Apple or Amazon. How can this be a bubble? IT'S NOT!!! Now those same "expert analysts" that are calling for a bitcoin' meltdown are many of the same analysts that are calling for Amazon and Netflix to go higher. HUH? Seriously Bitcoin' is in a bubble yet you increased your target level 25% on Netflix?
After a few days of consolidation we have now broke through $12,000 with some good strength and almost have hit our prior target level of $12,991 that we posted on Dec 2nd. Now I have updated the chart and the current pattern looks very familiar to the last pattern but more consolidated. What's this mean? Well you could say the last formation of a top, and that is a valid argument, but it could also be money just starting to pour in from Main street. Well doesn't this fuel a bubble? Yes and no. Money continues to flow into Amazon' Netflix' and many other "speculative" stocks. But why are these analysts are calling for a meltdown on bitcoin then? Well Walmart does not run Wall Street the banks do! So they don't care if Amazon' disrupts other retailers they buy and tell you to do the same. They do not care that Netflix' is changing the way we watch TV' at night? Netflix' has distrupted and continues to disrupt so they tell you to buy here.
But Bitcoin'? Bitcoin' and cryptos in general disrupt the Wall Street banks, and even the central banks, that have had control of OUR money for centuries! It's ok to disrupt kroger', but may the wrath of God come down on you if you disrupt the financial institutions in the world, and bitcoin' and other crytpos are doing just that.
On the chart below I have graphs of AMZN' NFLX' and Bitcoin'. How can someone tell me Bitcoin' is overbought, yet Amazon and Netflix still have room to run? All freaking 3 charts look the same to me or am I missing something! I mean parabolic? Heck Amazon is almost vertical! Ok you can say I skewed the timeline. Yes but the charts they show on CNBC are not even Log charts. DOH! I can make the chart look how I want to yes, but the underlying thesis here is bitcoin' and cryptos in general are disrupting the financial institutions and that is where I want to invest. I own no bank stocks because of this! Do not forget that Bitcoin' had no venture capital. Venture capitalists that invested in Amazon' and Netflix' made much much more than those who bought at . Also do not forget there are only 21 million coins that will ever be mined. Keep in mind every share you bought of Amazon at is now 12 shares. Had they never split, Amazon would be trading at $14,000 per share and there would be 38 million shares approximately.
Bottom line we do not know where or when we will get a pullback. I would "guess" somewhere in the $13-$15k. The formation of this next pullback will be telling, but I'm long term so I want to add I'm not looking to sell.
In my opinion Wall Street has an agenda and are protecting the financial institutions that run the world. Bitcoin' disrupts this and is doing it very fast. Why? Because it goes to the heart of everyone on earth, YOUR MONEY & Wealth!
Where is the value going to come from if it cannot be used?
lightning networks are nowhere close to being done and potentially may never work. If they do they likely end up with a number of lightning hubs which essentially equate to a more centralized banking system than we currently have.
i just dont see the value anymore that i once did.
i am very bullish on bitcoin cash with the tremendous amount of good news.
once again, you are the one with the investing experience here not me. so i want your opinion :)