Bitcoin Softforkers Got Soft Screwed!
For several weeks, the mainstream media has been busy running a disinformation campaign about the upcoming August 1 softfork in the bitcoin cryptocurrency. Blockchain advocates were locked in fierce battle about the crypto's scaling problem. Yet the media took it upon themselves to create a "doomsday" scenario to further pain bitcoin and the cryptocurrency markets in a negative light.
Well, for anyone that took their advice about the softfork, it looks like they got soft screwed instead! Rather than sink into oblivion, bitcoin has demonstrated resilience in the face of severe fundamental challenges. This demonstrates all the more that bitcoin has matured into a stable and reliable investment, which for many folks represent the last hurdle before personal integration of blockchain assets.
Additionally, technical indicators support enthusiasm towards bitcoin and its potential resolution of the softfork/scaling dilemma. My analysis towards trading variance confirms that the weak hands of the cryptocurrency markets, thought not completely flushed out, are losing ground day after day. In contrast, the bulls are taking over the markets, which suggests further upside momentum.
BTC 33%
ETH 33%
LTC 33%
Franks "thirds rule strategy"
Resteem...
To the Moon! ┗(°0°)┛
Well it's bounced back quite strongly hasn't it.
The next move is a break above $3,000. If that happens then expect another major rally.
waiting the highest level, come on!
The Bitcoin doomsday dilemma in the media presented a great buying opportunity. For those who knew it was a non-issue, they allowed to Doomsday story to percolate and create the volatility that we saw with a huge dip in Bitcoin presenting the buying opportunity on the low.
It's my suspicion that most people who got caught up in the softfork pandemonium didn't even know what a softfork was, let alone the blockchain.
the day the media praises bitcoin is a bad day for bitcoin.
Probably a wise indicator to get out!