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The Present Bitcoin Bull Run – Is It Sustainable?

The Present Bitcoin Bull Run – Is It Sustainable?

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Bitcoin, that darling of alternative investors, is off on another bull run. After the heady surge of 2018 that saw it hit peaks of around AUD$24,000 in Dec, and a dramatic reversal that saw lows of $4880 in June of 2019, the commodity has regained some of its lustre with a surge to $16,000 as of late July 2019.

Finance insiders, we spoke to have predicted all possible outcomes including prices of over $50,000. However, the investor with the most skin in the game is confidently predicting a future price of $0. He sees these false runs as great opportunities to short the coin in bets that will pay off all the way down to that magic number.

The wide divergence in opinion comes from the impossibility to accurately classify what a Bitcoin actually is, a currency, a store of value, a commodity, or some new type of investment vehicle altogether? Old school Wall Street has lined up in universal disparagement, but that may just be the old guard’s inability to comprehend what a Bitcoin represents.

For many year Bitcoin prices were very obviously inflated by fake trading between miners who simply bought and sold coins from each other, back and forth at slightly higher prices. Without regulators looking over their shoulders, this type of price fixing was inevitable. In more recent times the coin has been exposed to actual market forces as regulated platforms became involved, which might explain the bloodbath of early 2019. It is still very tightly held with only a tiny fraction of existing coins ever being bought or sold in open trading, and as such, still remains very much a false market, and therefore literally anything could happen to the price.

It is interesting to note that Facebook in partnership with Mastercard and Visa is entering the crypto game with its own coin – Libra. Blockchain itself is a very powerful technology with almost infinite possible applications and it was only a matter of time before the heavy hitters got involved. This entrance might herald the demise of existing players such as Bitcoin, or it might send them upward as the entire crypto landscape gains wider validity.

The official AMG trading advice – bet on volatility, profit from the wild swings, which are certain to continue.

© 2019 SPURIOUS MEDIA. ALL RIGHTS RESERVED.
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