I cannot believe how stupid some organisations are! Organisations that should know better who are *STILL* going on about Bitcoin being a Bubble. It’s just crazy mad talk of people who obviously have no knowledge of how currencies and trading works. I wouldn’t mind Forbes but you should know better than make such a stupid statement. How can you tag it with #CuttingEdge when you’ve not even taken one moment to properly analyse the charts?
In this first chart – BTCUSD (that’s Bitcoin trading against USD) You will see that Bitcoin dropped back to the fair price (THE WHITE LINE) it then bounced and is probably heading back up. Normal currency behaviour. Just in case you think I’m talking rubbish… here’s the Nikkei.
Just to prove I know what I’m talking about I’ve included my live forex/commodity trading screen. Using the MagiTrade forex indicator that I invented over 10 years of trading.
I can tell you Bitcoin is not a Bubble. It just behaves like everything else, it ramps up, it drops it goes up again.