Interesting to see NCM rise strongly over the last few days, despite any obvious driving force. My theory is investors are looking at the general market and can see how expensive it is, combine that with insane house prices and zero interest rates, so where else does the money have to go? Bitcoin is the bubble of all bubbles, when it pops it will be of biblical proportions, and “will” go down in history as the biggest bubble since the tulip craze. We live in a highly connected world where virtually anyone can invest, and bitcoin is a reflection of that, it's too much red tape and effort for a kid to buy an ounce of gold and store it at home, (or pay storage fees) it's much easier to buy bitcoin and enjoy the mania with their friends for a fraction of the cost. A large majority of the stimulus money has flowed into bitcoin, but by the time it pops, it will have already flowed into the pockets of the large investors that specialise in social media pumping, and left the small guy where he started, broke and stupid. Here's two questions for you, let me know which one you can answer with absolute certainty? (A) will bitcoin be around in 1 year, 5 years, and 100 years? (B) Will gold be around in 1 year, 5 years and 100 years? Perhaps the surge in NCM is from investors that know the answer
From the highs of Q3 2020 price has declined into a narrowing descending wedge pattern, recently each price decline has become shorter showing sellers becoming exhausted.From the highs of Q3 2020 price has declined into a narrowing descending wedge pattern, recently each price decline has become shorter showing sellers becoming exhausted.Trading volumes have increased during Q1 2021, with point 4 indicating buyer accumulation.
