Its time to look once again at the 200 Week Moving Average
Bitcoin has never broken beneath this moving average, Bitcoin has also never faced a looming Global Financial collapse. Is Bitcoin truly Money 2.0? In the early days where anyone could mine Bitcoin at home on their PC Bitcoin appeared to be a democratic decentralised store of value which had solved the Double Spending Byzantine General’s Problem. Now with an increase in value with only 4% of entities holding 96% of all Bitcoin and most of its mining Capacity held in China is Bitcoin really a decentralised financial alternative to Fiat?
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