The Sky Is Not Falling: Why The Bitcoin Price Doesn’t Matter
The recent bitcoin price action demonstrates that it’s time for a more grown-up culture of building, development and adoption around Bitcoin.“Bear markets are the best time to be alive and in the sector. It’s depressing for those that don’t know what they’re doing, it’s awesome for those that have a longer-term view.” – Simon DixonThe difference between Bitcoin and everything else is that the price of bitcoin doesn’t matter. Over the long term the price of bitcoin has gone up, yes, but the value proposition of bitcoin as hard, non-confiscatable and truly decentralized money is really what....
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Anyone with even the slightest interest in the privacy concerns of Bitcoin and other cryptocurrencies would have little trouble finding a venue to watch and listen to the debate. Currently there are three positions on the issue. The first are the full bore Libertarians, like the Cypherpunks of years past whose motto was: “Privacy is necessary for an open society in the electronic age. Privacy is not secrecy. A private matter is something one doesn’t want the whole world to know, but a secret matter is something one doesn’t want anybody to know. Privacy is the power to selectively reveal....
MKR trades below 50 and 200 EMA on the daily timeframe. Price breaks out of a falling wedge with eyes set on key resistance of $800. The price looks strong on low and high timeframes. Maker DAO (MKR) price has had a rough time recently as price beaks out of falling wedge on the daily timeframe against tether (USDT). Despite being a major player in the crypto industry, the price of Maker DAO (MKR) has struggled to replicate its run to a high of $8,000. (Data from Binance) Related Reading: Sandbox Struggles In A Bear Market, How Low Can Price Go? Maker DAO (MKR) Price Analysis On The Weekly....
Here's our interpretation of the latest action in the bitcoin price on Wednesday. So it looks like we are finally getting a return to the overarching bullish momentum that took us to trade just shy of $500 towards the end of last year. It’s been a rocky month or so, with the bitcoin price hitting lows not seen in a long time, but with any luck things are back on the up and we can start to see a shift in sentiment. In yesterday’s analyses we noted that we expected a sharp move as the US markets reopened and joined forces with Asian volume. We didn’t know what direction that move might be....
The end of 2016 and the beginning of 2017 was a cause for celebration for Bitcoin users. In January the price went as far as $1,161 surpassing the highs seen in 2013. The euphoria in the Bitcoin community is obvious. However, does this level of $1000 matter? Does the price of Bitcoin itself have any relevance in the grand scheme of things? Is the rising value of Bitcoin something that can be assigned labels of good or bad? Recently Jamie Condliffe published an article titled “Why Bitcoin’s $1000 Value Doesn’t Matter?” in the MIT Technology Review. Well, frankly it is time we asked some....
Despite repeated statements from Bitcoiners that price does not matter, the price of bitcoin is fundamentally a measure of its success.