Many people have argued against Cryptocurrencies. Some have gone as far to say that it is the next Enron, or the next 'tulip bulbs' bubble. They say that it is just market euphoria. IMHO: Market euphoria hasn't hit digital currencies or even the stock market's incredible bull run (at least not yet, I see a little too many bears out there, and crashes happen when you don't expect them... just. like. Enron).
2017 has seen Bitcoin's value launch to the moon, and one reason I see behind it is as follows.
The election of Donald Trump saw a boom in most asset classes. Equity sectors from Tech to Finance to Industrials received bumps. Why? One reason is the promise of deregulation. The prior eight years our economy has been crippled by regulation as we the people of the United States of America sat back and assumed that there was no way out of this global economic downturn. Central banks across the globe were cutting interest rates to try and inject life into an economic recovery. It seemed we accepted economic stagnation as the new norm. Who could blame us? Before 2008, the SEC failed us (surprise) which helped lead to the financial crisis of 2008.
The financial crisis of 2008 had many factors. One of them being a significant decrease financial over site from the SEC. Simply put, everyone started cheating the system, and if you weren't doing it you were losing. This crash helped bolster Bitcoin as an alternative to banking. Instead of having to trust the untrustworthy with your hard earned money, you were able to put it into the Bitcoin network. A network that is almost un hackable, unless you own millions of dollars worth of computing power.
Bitcoin's post election ascent was boosted by a candidate who was opposing regulation. Bitcoiners could take this as either they had to worry less about governmental intervention, but more likely saw it as a way to hold their value without worrying about another crash.
2017 has seen Bitcoin's value launch to the moon, and one reason I see behind it is as follows.
The election of Donald Trump saw a boom in most asset classes. Equity sectors from Tech to Finance to Industrials received bumps. Why? One reason is the promise of deregulation. The prior eight years our economy has been crippled by regulation as we the people of the United States of America sat back and assumed that there was no way out of this global economic downturn. Central banks across the globe were cutting interest rates to try and inject life into an economic recovery. It seemed we accepted economic stagnation as the new norm. Who could blame us? Before 2008, the SEC failed us (surprise) which helped lead to the financial crisis of 2008.
The financial crisis of 2008 had many factors. One of them being a significant decrease financial over site from the SEC. Simply put, everyone started cheating the system, and if you weren't doing it you were losing. This crash helped bolster Bitcoin as an alternative to banking. Instead of having to trust the untrustworthy with your hard earned money, you were able to put it into the Bitcoin network. A network that is almost un hackable, unless you own millions of dollars worth of computing power.
Bitcoin's post election ascent was boosted by a candidate who was opposing regulation. Bitcoiners could take this as either they had to worry less about governmental intervention, but more likely saw it as a way to hold their value without worrying about another crash.
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