RE: Bitcoin Update: BTC bounces $600 off the lows back to $4k

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Bitcoin Update: BTC bounces $600 off the lows back to $4k

in bitcoin •  6 years ago 

The cat should be dead to have a dead cat bounce:D

bitcoin
6 years ago by

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      ·  6 years ago 

    Haha good one. Though I don't think the term dead cat bounce will be accurate in this case as I think bitcoin will eventually make another high. It might just take a while.

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      ·  6 years ago 

    Bitcoin will eventually go up as long as there is other cryptocurrencies that need to be exchanged to FIAT... Unlike most cryptocurrencies that are mainly used to increase portfolio because they are innovative, Bitcoin is used to cash out the portfolio.

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        ·  6 years ago 

      Lol it has other uses. Works great as a money transmitter that transcends borders.

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        ·  6 years ago 

      There is a lot of other coins that are better than Bitcoin for moving money across borders due to lower value and thus lower fees. I know Bitcoin network fees have dropped significantly during last year, but they are still quite high compared to some altcoins. In next few years more and more exchanges will support directly buying altcoins using FIAT due to large disk space required by Bitcoin blockchain.

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          ·  6 years ago 

        Yep, and also demand.

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