The Long-Term Drivers of Bitcoin
By Martin Tillier, August 26, 2014, 09:58:58 AM EDT AAA
Last week, in an opening salvo into the Bitcoin trading world, I suggested that you may want to look at a long position in Bitcoin against the U.S. Dollar to take advantage of the weakness in the previous weeks. That looked good initially as the expected jump came and would still be showing a profit, but the retracement over the last couple of days upheld what I said at the time, that this was a fairly long-term idea and as such required a belief in the fundamental value of the virtual currency.
I am not a Bitcoin evangelist, nor an expert, but then neither am I a hater. I simply have a trading background and therefore have an interest in a volatile market. The deeper I have looked into the phenomenon, however, the more convinced I have become that Bitcoin has a future and could have a lasting influence on the world of business and finance.
My writing on the subject has prompted several discussions with people who hold a range of views, but I have yet to find anybody who has given me what I consider a convincing argument as to why they believe it will fail.
READ MORE – The Long-Term Drivers of Bitcoin – NASDAQ.com.