11/29 ANDY HOFFMAN (CryptoGoldCentral.com): Bitcoin’s Inevitable Explosion Has Merely Been Delayed

In life, things don’t always go the way we’d like. In investing, they nearly never do – which is why, despite the incredible “FUD hurdles” placed in front of it, it was rare to see a move like in 2017, featuring a 20x Bitcoin increase. Far more common is disappointment; and with essentially 100% certainty, the painful deflation of bubbles - which is why 2018 has unquestionably been about, historically speaking, reversion to the mean.

Yesterday, I read a Tweet that ‘just as the 2017 explosion wasn’t proof of Bitcoin’s success, 2018’s crash isn’t proof of its failure’…which couldn’t be more spot on, given how rapidly Bitcoin has grown, and how much more apparent its myriad use cases have become.

That said, the technical and psychological damage of this months’ decline – after nine months of strengthening investor (and institutional) belief the Hoffman Line would hold – are significant. Thus, it’s clear that whatever momentum was building was completely destroyed – and thus, needs TIME to recharge.

Consequently, it’s no surprise the Bakkt physical Bitcoin futures platform was delayed from December 12th to January 24th, whilst SEC Chairman Jay Clayton made comments suggesting a Bitcoin ETF approval will not occur any time soon.

https://twitter.com/Andy_Hoffman_CG/status/1067773318751604737

Moreover, the annual Hedge Fund launch season (early January) is not going to be close to what was expected just a month ago - as when major crypto investors like Mike Novogratz are getting REKT, you can bet the average investor is not rushing to buy into the space. Throw in lingering fears that SV will somehow negatively impact Bitcoin, and it becomes crystal clear that the long-awaited; and in my view, inevitable; return of the crypto bull market has been delayed - with the $64,000 question being, is the bear market over? And if not, how much longer will it last, and deeper will it be?

https://twitter.com/lawmaster/status/1067842852091293704

My decision to sell my Bitcoin when the Hoffman Line broke was entirely due to personal financial reasons – as at my age, there’s no way I was going to risk my hard earned gains given such near-term uncertainty. Moreover, I have enough confidence in BRhodium to believe my Bitcoin can be replaced in the future – so in my view, I didn’t really sell at all.

As for you, you must decide what makes the most sense for you financially – but given the current circumstances, be especially careful to invest with your head, not your heart. As again, Bitcoin is not a cult or cause, but a financial asset – and despite its promise, a speculative, volatile one at that.