The price of Bitcoin may have reached the bottom and be on its way up. In the short-run, its bullish prospects are supported by the Greek debacle and the corresponding uncertainty over the stability of the eurozone. In the mid-run, its bullish prospects are suppored by central banks hiking interest rates, thereby pricking the most recent asset bubbles and triggering another round of global recession. In the long-run, its bullish prospects are supported by the unfolding of the progressive process whereby innovative, entrepreneurial libertarianism displaces archaic, ponderous statism.
Disclaimer: talk is cheap and social reality is infinitely complex. DYODD.
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