I find it interesting that a lot of you think this is specific to Bitcoin.
You're not wrong, but it's a broader concept I'm touching upon.
If you chose:
π«"I have no choice"
- - why did you choose not to have a choice?
If you chose:
π "I have chosen freely"
- - did you really have any other option?
-- π§ If I give you a choice
--- - you believe you have chosen freely.
β’ β’ β’
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My current weekly view on #Bitcoin: potential bullish engulfing candle forming after testing the 1.618 Golden Ratio of the 2018 decline. Watch this as the weekend closes on Sunday. If proves to be a bullish engulfing, this is an indication of trend reversal
(1/?)
(2/?)
Long-term logarithmic growth line intact since March '20, potential support as we move on.
Weekly resistance level at about $39k; $30-39k being the same price range we have been in since late May.
Weekly RSI remains mildly overbought and approaching a descending resistance
(3/?) Some context: 1.618 Golden Ratio forms a support level during a mid-summer 4th wave correction in each #Bitcoin cycle.
Why I stacked #Bitcoin all of 2020 but started stacking #Litecoin in January 2021: πA thread: π
What is #Litecoin #LTC was created in Oct 2011 by computer scientist Charlie Lee, an ex-Googler.
$LTC is based on Bitcoin protocol but it has a different hashing algorithm, and the total supply is capped like Bitcoin, but a higher number of total tokens (84M vs 21M).
Gold vs Silver #Litecoin is scarce in the same way #Bitcoin is, but it is cheaper and faster to transact in on the base chain (Layer 1). This leads to the narrative that #LTC is the "silver" currency to #BTC's "gold" store of value.
Its network is 10 years old with 100$ uptime.
@elonmusk@CathieDWood@jack@elonmusk "For #crypto in general, that it can improve the efficiency of the information system we call 'money'. And more power to the individual which I very much agree with."
@elonmusk@CathieDWood@jack@CathieDWood " ... convergence of blockchain technology and artificial intelligence from a technology point of view.
Think about Internet in the earliest days. Impetus to grow was pretty incredible.
[It will] change the world in ways we cannot even imagine right now."
@Jack Dorsey
"We are still fairly early" in #Bitcoin
"I want a currency that is standard and sound - for (use on) the Internet"
@CathieDWood@ARKInvest
"#Bitcoin is a global rules-based system. [Scarcity and store of value means] purchasing power WILL go up globally around the world" with Bitcoin
It's so funny to watch people openly demonstrate their ignorance.
Just because you don't understand something, doesn't mean it's "stupid".
Humble yourself and maybe you'll learn.
If not, that's fine, there's always next cycle.