So after all the waiting and anticipation bitcoin will get a new ‘exchange’ (not an ETF as I first posted) set up by the Winklevoss bros, to start trading on Thursday. Its the first bitcoin exchange of course but this will be high profile I guess.
The Winklevoss twins. (not really supporting Dash)
More background to the story from coindesk. http://www.coindesk.com/bitcoin-exchange-gemini-new-york/
With this and halving scheduled sometime next year is bitcoin finally going to overcome this flat period of dullness and move on to new heights? Or is blocksize infighting still going to spoil the party?
Looking at a chart, it is becoming harder to make a bullish or bearish case, in reality the entire year so far bitcoin has been constrained in a horizontal channel.
Heres bitstamp with 1 week candles.
So I’d imagine the first target to really start feeling bullish is to see bitcoin get above this horizontal channel.
Despite reasons for bullish optimism I guess I’m feeling a bit cynical myself. Although bitcoin has real possibility of charging to new all time highs in next year or two. Its a bit like the the original dream is fading along with that. Block size is going to mean further centralisation. Bitcoin is not really the decentralised entity with zero fees that was promised in the beginning.