DislikedThis is mind boggling. Let’s discuss this one.. https://seekingalpha.com/article/412...ne-way-go-trueIgnored
The graph illustrating the high statistical significance between Tether supply and the price of Bitcoin using a logarithmic scale to do a linear regression has an inherent flaw - the price rise of Bitcoin is essentially an exponential function, so anything that has an exponential issuance or generation could be shown to have the same relationship with the price of Bitcoin. The author has used a logic error to link the Tether-USD-Bitcoin relationship to connect the dots by painting a sophisticated arbitrage scenario.
Bitcoin does not make sense in a traditional economic sense, the fact that it has a market capitalization that now exceeds the GDP of some first world nations is mind boggling too, and given that nobody has ever "seen" a Bitcoin is a bit like the children's story about the Emperor's New Clothes, yet here we are on the verge of the mighty CME creating futures to allow the great unwashed to access Bitcoin.
I have been waiting for an opportunity to short BTCUSD for a day now, and it just won't give up, we are back above USD11,600. I think the curve has almost everyone who is not a Bitcoin investor thinking, this thing is about to blow.
Even the threat of the UK and EU planning to regulate BTC through forcing exchanges to disclose the details and transactions of holders shows how little the regulators understand about the crypto-currency ecosystem. UBS tend to think that a government crackdown is the biggest risk to the future of Bitcoin and the crypto-currency framework, but they have China's failure to achieve this to contend with (https://www.forbes.com/sites/kenrapo.../#75e859632de6).
Given that the US Fed have indicated an interest in creating a government backed crypto-currency (https://www.cnbc.com/2017/11/29/fede...dley-says.html), I think these things are here to stay in some form.
Ironically if we had just followed Not-KPMG's advice, the weekly chart buy signal on 16 October 2016 would still be in play from USD618.21 to over USD11,600 right now!
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