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November 10, 2013, 05:05:48 PM |
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Don't let the title put you off, this is written rather well and goes into a few key concepts that I agree with.
First, hyper-monetization is used as a term to describe the flow of fiat into Bitcoin. I'd go a bit further and say that this kind of influx will only continue, which is why we get increasingly shorter periods of time between the last parabolic rally and the next.
Second, he does a good job comparing the 2013 run-up to what is happening now, but stumbles a bit thinking that any retrace means a similar conclusion to the move. I disagree, in fact, I'd say that the periodic declines we've had that haven't matched the severity of the April 2013 fall mean we're in a larger parabolic move than we realize.
Finally, its really all about how the network effects of Bitcoin come into play and the associated services that participate. It seems to be a rather pro-Bitcoin piece in general, even though you may think the title means he's out to bash it.
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