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Bitcoin Bull Market
Bitcoin had 10+% rise over the past week
Price increase is forcing ALT Coin Markets Down
Is Bitcoin Going Mainstream?
Wall Street Journal Article Points Out Stability (Article Below)
FROM Wall Street JOURNAL:
“Digital gold is starting to look slightly more stable than its physical counterpart.” Why?
Gold vs Bitcoin:
-Gold is not finite, the amount in the earth’s crust is, yes, but….
-Space mining is gaining a foothold (article below)
-One asteriod (supposedly laid claim to already) purportedly cointains $ trillions of Platinum
-Trading: FEES! Gold has 3-10% in fees, Bitcoin has .15% (on Poloniex)
-Try leaving the country with some amount of gold, try leaving with BTC in your online wallet
Why be in gold or bitcoin?
-Decreasing FIAT purchasing power
-Dollar has been in bull market for years
-Forcing down all other currencies, oil, bitcoin, and other commodities
USD declining since the beginning of the year (Chart Below)
Down 5% in the past 6 months
USD is no longer the sidelines, it is as risky an asset to hoard as anything else
Bitcoin community is working on moving forward to increase the amount of transactions processed per block
– This will increase the ability of bitcoin to absorb new users and scale to meet more people
– From what I can tell, this is the main problem suppressing the bitcoin price AT THE MOMENT
Dun dun dun: THE HALVING!
Sounds like some kinda funky horror movie
If you don’t already know, IN JULY bitcoin will be halving the block reward.
-12.5 btc from 25 btc
-This will mean not only will mining be harder, but it’ll pay less
-Less NEW coins coming to market; this should help trading price
-Last time this happened was 4 years ago: making it a rare event|
Expect a similar move to what happened in Ethereum in March
– Bitcoin will rise until the day with a fall off for a while after the halving occurs
– It may take several months or longer until the effects of the halving are really felt and the price reflects the addition scarcity
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