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Don’t let the news media fool you, the bubble didn’t burst on Bitcoin or cryptocurrencies.
So what happend today? The usual happend.
Bitcoin Thursday, Yet another Crypto Rally in the Works
Bitcoin and Ether Rise 20% and 30% Respectively, While Ripple Bouncing Back Almost 70%. Oh really? It’s really business as usual in the crypto volatility game, with soaring Bitcoin prices leading to a $159 Billion crypto market recovery. Gotcha!
HODL! Dude, like hold your position. The Crypto Singularity doesn’t like Chinese New Year ticket booking, but it’s not something you can de-regulate and ban from China and South Korea, it’s a decentraliztion movement!
Bitcoin the crypto asset Unicorn that it is, had a sub-$10,000 fling and is currently flirting with $12,000, so what! Bitcoin is widely expected to burst $50k this year. Just study the curve; the bubble is unlikely to burst this year. The South Korea cryptocurrency ban has turned out to be a false alarm and they would literally riot if it happend.
Central banks and investors don’t get how crazy people are into the crypto movement. It hits home for Millennials as a value and culture statement. Bitcoin can have all the black tuesdays it wants, but for cryptocurrencies, ICOs, and blockchain innovation; it’s full steem ahead.
Ripple is up 50% in the last 24 hours at the time of writing this. The people in between hold. Bitcoin is a symbol of something bigger.
Government invasion into crypto community if anything, will only fan the flames. Central banks trying to manipulate it; China trying to root out any rumor of decentralization from its centralized system does make sense though.
We are Post-Nationalists Who Value Decentralization
Warren Buffett has called Bitcoin pure FOMO, but listen, the dude is 87-years old. Baby Boomers and GenX often have a somewhat adversarial relationship with crypto assets. Just ask all those fat cat bankers and investors.
That Governments would try to root out cryptocurrency exchanges make sense though, in a way cryptocurrencies are the hypothetical answer to the trust dilemma of the postmodern global citizens — who value decentralized, digital stores of value — that could circumvent government rules and provide a more attractive option to an overly manipulated stock market.
What if GenZ are an entire different ethical framework and they just don’t care about nationalism the same way some of the older world leaders do? As can be seen in South Korea at the start of 2018, the crypto movement is getting political.
And — Bitcoin is not dead, coincidentally.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.