BITCOIN IS CRASHING: HERE IS WHY
If you look at the astronomical rise of Bitcoin transactions costs you will see that it is almost perfectly correlated to the price of Bitcoin. Bitcoin transactions costs surged past over $150 dollars towards the end of December and have been slowly falling since.
The transactions costs keep hovering around $100, but have yet to break it. It is getting closer and closer and there is no serious technical support level following the $100. If the transactions costs break through this level, Bitcoin will experience a short-term crash. This has been proven in the past. Check out the graphs below.
I just made a post showing BTC touching the tip of it's triangle after breaking out, along with an example picture of what happens in a symmetric triangle.
and BTC's current standing;
I believe we are at a bottom.
Please check out the post;
https://steemit.com/bitcoin/@louwtjie/btc-update-symmetric-triangle-upwards-break-pulling-back-to-the-tip
I think simply looking at technical levels of price is one dimensional for a product like Bitcoin. Transaction costs are a huge component of the price of Bitcoin, it paints a different picture of its behavior.
okay so at the moment it is common knowledge that you want to hold bitcoin long, as a means to 'hide' your 'value' from the bank's books. If you want to transact without a controlling third party watching over, you may buy any of the many shit coins, whichever your vendor accepts.
I am no technical guy but I follow technical talks and from my understanding, multiple petitions are arising for exchanges and wallets to implement segwit. The service is available to transact bitcoin cheaply and fast. It's new, but go read up on it. This is just a pre-service and the lightning network is being developed by hundreds of developers around the world, working towards keeping BTC decentralized .
interesting post
wao. What a news. That is a bomb.