Viewing a response to: @msteemian/the-bitcoin-update
Interesting analysis but I do not think that technical analysis has any merit. Looking at past price movements and trying to figure out the future based on pure historic figures would not provide a clear picture of the future. Instead, rather consider what is happening in the cryptocurrency space: 1) adoption through numerous new exchanges / fiat-to-crypto apps, 2) good regulation to push crypto into becoming another asset class, 3) preparation for institutional money, 4) more open governments, etc.
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I agree to a point. But trend analysis doesn't require too much historical data and it is the worst way of trying to predict the future with exception of all other ways ;-) There definitely needs to be deeper study, polite push back and taking things with a grain of salt in such a volatile space. It really is a virtual version of the wild, wild west. Isn't that what draws us all here?
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Not me.
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Yes yes and yes to all four of your points. Plus Central banks want a piece of the action too now.
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