Title says it all. I have a number of thoughts about how to play this move by Bitcoin above $6000. There are a number of issues surrounding this move and its implications for the near future.
You can read it by signing up with my Patreon page ($4/month level).
What’s a good vehicle to trade all these coins? I use coinbase. Which is quite limited
It depends on the coin you are looking to trade. Bitfinex makes a market in about a dozen and is very liquid. HitBTC lists a bunch as well.
OpenLedger is a distributed exchange with everything on the blockchain…. liquidity is lower b/c of listing fees (minimal, less than $0.01) but it discourages pros from spoofing. OL also makes a market in blockchain-based derivatives of things like the USD, EURO, Yuan and Ruble… if you want to play the forex game and the ability to trade against big moves vs. fiats.
Why are people believing that bitcoin, and other cryto-currencies are the wave of the future? And why are banks downplaying them?
1. Because the blockchain creates a currency that cannot be arbitrarily inflated by a central issuing authority. And, by building in contracts to the transactions, like in ethereum, you now have a platform to build applications that themselves give the underlying p2p network value
2. See #1… As in…the banks are directly threatened by cryptos as monies that they dilont get to make a market in and steal 2-4% on every transaction.
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