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Bitcoin’s 30,000,000% Price Surge Indicates the Currency Built to Rise Rapidly, Says Economist

Bitcoin’s 30,000,000% price surge indicates the currency built to rise rapidly, says economist

Bitcoin’s 30,000,000% Price Surge Indicates the Currency Built to Rise Rapidly, Says Economist

Bitcoin’s 30,000,000% price surge indicates the currency built to rise rapidly, says economist
Bitcoin’s 30,000,000% price surge indicates the currency built to rise rapidly, says economist

Saifedean Ammous, economics professor and author of “The bitcoin Standard,” says the value of bitcoin (BTC) has risen more than any other asset in economic history.

In a new tweet, Ammous compares bitcoin to the emergence of some of the world’s most famous companies, concluding that bitcoin (BTC) is a totally different beast. His tweet reads:

“bitcoin is not only incomparable to bubbles, but its fast rise is also incomparable to the most successful companies and innovators. As far as I can tell, nothing has ever risen as fast and as much as bitcoin has risen.”

According to Ammous, bitcoin mining difficulty adjustment is the main characteristic that makes bitcoin stand out from the crowd. Even so, the economist warns past performance shouldn’t be used to determine future results. Therefore, we must analyze the data thoroughly using technical indicators and time patterns.

“This isn’t to say bitcoin is guaranteed to rise. It can fail, or demand could disappear for many reasons. It could crash 90% from here and not recover in 20 years. Betting serious money on something so volatile is stupid and dangerous. If you do it, don’t blame me!”

Price is facing strong resistance near $3,990

Meanwhile, at the time of writing, bitcoin and most of the top 20 cryptocurrencies are seeing modest losses while a few report modest gains. bitcoin price is trading at $3,892, according to data from Coindesk bitcoin Price Index. The currency is down by 1.63%.

Looking at its weekly chart, the current price is significantly lower than the last week high of around $4,050. That indicates that the cryptocurrency is in a bearish momentum and a sell signal.

bitcoin (BTC) and other major altcoins like Ethereum (ETH) and Ripple (XRP) are yet to start a major bull run. A lot of traders, hodlers, and speculators are patiently waiting for the sharp recovery of the cryptocurrency market.

source: https://coindoo.com/bitcoins-30000000-price-surge-indicates-the-currency-built-to-rise-rapidly-says-economist/

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Published at Tue, 26 Mar 2019 13:37:33 +0000

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‘Borderline Fraud’ Bitcoin Cash Is ‘Less Secure’ – Max Keiser To CNBC

Keiser Report host and bitcoin proponent Max Keiser has told CNBC bitcoin Cash is “by definition less secure than bitcoin.”

Keiser Left Unimpressed At Ver’s CNBC Stunt

In a Twitter exchange following the appearance of bitcoin Cash’s Roger Ver on the network’s Fast Money segment, Keiser argued the bitcoin fork “eschews decentralization,” which is a “cornerstone” of bitcoin.

“Bottom Line: BitcoinCash (sic) is, by definition, less secure than bitcoin as it eschews decentralization; the cornerstone of TRUE bitcoin intent and design,” he wrote.

Additionally, use of the ‘bitcoin’ name in this instance is deceitful and borders on outright fraud.

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The comments came in response to CNBC its joining in the debate, questioning why both bitcoin and bitcoin Cash could not coexist simultaneously.

“Do they have to be mutually exclusive? Can’t they both be good? So much division in this world,” it wrote, describing the two chains’ opposition as “sad.”

‘Promoting A Scam’?

Ver continues to enjoy widespread publicity as a bitcoin commentator despite his recent switch to bitcoin Cash and public denouncing of the original bitcoin as a “cripple coin.”

Some of his comments have been especially contentious, these notably including criticism of speaker and educator Andreas Antonopoulos’ net worth in bitcoin.

Commenting on CNBC’s choice of guest meanwhile, Keiser said the network was not guilty of “promoting a scam” referring to Cash.

“Is CNBC culpable in promoting a scam? No, because they make no claims about veracity and integrity. The market is an amusing cockfight they cover – without journalistic standards – for bored hedge fund managers,” he retaliated, suggesting viewers instead watch his own Keiser Report for “informed bitcoin analysis.”

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bitcoin Cash continues to post relatively flat growth in the face of bitcoin’s rapid ascent to $17,000. Nonetheless, the project has a huge marketing presence on social media, with dedicated advocates appearing to infiltrate almost any discussion bringing up aspects of bitcoin’s current status.

What do you think about Max Keiser’s comments on bitcoin Cash? Let us know in the comments section below!

Images courtesy of Wikimedia commons, Twitter

The post ‘Borderline Fraud’ Bitcoin Cash Is ‘Less Secure’ – Max Keiser To CNBC appeared first on Bitcoinist.com.

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