Crypto Long & Short: No, Bitcoin Was Not a Response to the Financial Crisis

It is commonly said that the Cypriot financial crisis of 2013, in which the Central Bank literally emptied the bank accounts of everyday people, is responsible for the first serious rise in the price of Bitcoin. In response to the forced closure of one of the Cypriot banks and the emptying of thousands of bank accounts, an unprecedented move, the price of Bitcoin jumped from the low double digits to over $150 in a matter of hours. A rise in price of any asset only means one thing: growing demand. Here is a short film that was released right after the events. Major Events or Normal Events?....

Back in January of 2016, a warning was issued how the world should brace for the impact of a new financial crisis. Given the recent financial crisis, the question becomes whether or not there are any signs of recovery, or if things are worse for the wear. Depending on which country one resides in, there might be a slight improvement although a large part of the world is still working towards stabilization. If a new financial crisis were to take place tomorrow, things could get kind of interesting for Bitcoin to say the least. Despite what financial experts may want the general public to....

In last week’s post we concluded with the following statement: Our overall stance is now Long-Term Slightly Bullish, Intermediate-Term can now be considered Bullish, and Short-Term is also Bullish. Regular readers will recall how a few weeks before the big drop to the US$200’s it was stated in this series how this was the scariest charts have looked in a long time, well now we have the complete opposite. Sitting right here on the verge of breaking back above US$400 is the best charts have looked in months. Nothing is ever guaranteed, but the ideal situation right now is to break above the....

The global financial ecosystem has been very brittle even before the previous financial crisis hit. While some countries are showing signs of recovery,the Brexit will force projections to be recalculated. Although people may want to deny the truth, we are on the brink of another economic crisis. A new global crisis appears to be imminent, and there is no solution to avoid the inevitable. Investors and individuals should start looking for alternative financial solutions sooner rather than later. Returning to the gold standard is being considered as well, albeit it is doubtful this will....

The price of bitcoin fell in response to Celsius Network pausing all transactions off-platform in response to a liquidity crisis and other market disruptions.