d5000
Legendary
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Activity: 4060
Merit: 7386
Decentralization Maximalist
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June 17, 2016, 10:20:39 PM |
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Business as usual. But that is not necessarily a good thing.
Until the late 400s this rally looked quite healthy. It was a stable uptrend and should have continued this way. There was a bit of volatility, but Bitcoin was usable as a currency most of the time, for example for remittances. It didn't look like Bitcoin actually. Almost like a real currency.
But then greed came in and the community went euphoric. Too euphoric, I think. Because volatility went up to pre-2014 levels and Bitcoin was not longer usable as a currency. It was predictable, though, because of the halving event.
Don't get me wrong, I like the uptrend and expect a higher price in the future, but a stable uptrend with healthy corrections sometimes (with less than 10% loss) would be far more convincing and sustainable. If the rally goes on this way, then the top is near (or may be already in).
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