Bitcoin Broke Through 5k | Is This Really A BULLRUN?

October 4, 2019

Quick market update!
Bitcoin and other cryptocurrencies are breaking
through new highs since yesterday.
The moment BTC broke through 4.2k, it just
went on, and reaching 4.8k before it started
going sideways again.
Now as I speak we are currently testing above
5k levels and see if this could hold up.
Unfortunately it’s starting to go downtrend
again but we’ll see.
Now the big question is, what’s the best
course of action?
Should we buy or sell?
Hello Cryptogang!
Welcome to another LamboLife video.
Now first of all this isn’t financial advice.
Second, the question of whether you should
buy or sell depends on the type of investor
you are.
Are you a value investor or technical investor?
Do you want to profit short term or long term?
Personally, I lean more towards being a value
investor but to each his own.
If you’re a value investor, what you want
to figure out is if bitcoin is underpriced
Why Bitcoin?
Because whether you like it or not BTC is
the market mover among cryptocurrencies.
Against several other thousands, it still
holds 50 percent of the total market value
of crypto.
So let’s check the fundamentals of BTC.
According to Bitcoin newsletter, there’s
not much update except for a few backlogs
causing a small increase in fees, and some
code and documentation changes.
So it’s all good.
Fundamentals are still strong, but there’s
nothing significant that’s really happening
yet that makes it any different from last
month or so.
How about Lightning Network then… let’s
compare last month’s statistics to today.
So as you can see a few increases.
Not really an exponential change.
Roughly over a thousand increase in the number
of nodes and 9k increase in number of channels.
Network capacity now over a thousand BTC which
is roughly over 5 million dollars.
So it’s going well.
I’m not gonna hype this up.
Ivan on Tech already did a few hours ago.
In my opinion, I think we can handle a bullrun
Although lightning is not as good as Visa
or Mastercard yet, in terms of scale.
We haven’t gotten to that level.
But I think we can handle another 2017-like
The lightning will have some problems I guarantee
but I think it’s gonna work.
I’ve talked about the Lightning Trustchain
in other videos and it is significant in this
context as it serves as proof of concept that
lightning works.
It’s been passed around almost 300 times
and is now worth 4.11 million satoshis or
over 200 dollars.
Now this ain’t micropayments no more.
200 dollars is too much for a cup of coffee.
And the fact that Lightning can handle this
today, should not be taken lightly.
Just try not to buy a car with lightning though.
It would be best to stick with Bitcoin onchain
if you’re trying to buy something expensive.
Elizabeth Stark of Lightning Labs said that
this will be the year of the lightning network.
A bullrun would put that to the test.
Hopefully not something that’s overkill.
Just wanna go back to 2017’s prices.
That would be enough.
Now I’m not a technical analyst and I don’t
want pretend to be one.
So I took the best sources I could find so
I could share it to you guys.
I watched Nicholas Merten, Tone Vays, Allessio
Rastani, Mati Greenspan etc.
All the so called experts
Long story short, everyone agrees that the
bears are not behind us.
That’s the general consensus.
That it will go back down.
In fact, as I speak, it’s already going
Furthermore, most of these so-called “expert
traders” admitted that they really don’t
know what’s causing this surge in the market.
Makes me think they’re just as clueless
as the rest of us.
Tone Vays says there doesn’t have to be
a reason for it to rise.
This might be just price action… the market
moving just as it is.
I don’t know guys.
Honestly, I don’t think the details are
that important.
If you know that Bitcoin is gonna succeed
because you know the technology, you’ve
been following the people involved with it,
the latest developments, their goals, etc.
I think you’re all set.
Let me ask you this, if Bitcoin reaches 100k
per coin next year.
Would it really matter too much that you bought
at 6k instead of 4k?
For me, I’d rather not worry too much as
I know the fundaments are in place and continues
to grow stronger and more firm.
If I had more money I’d just dollar cost
average at this point.
You buy a couple hundred today then a couple
hundred next month or week whatever.
No headaches.
You get to spend more time with your family
and friends.
But that’s just my opinion though.
I’m not saying technical analysis is not
that good, I’m just saying you shouldn’t
stress over timing the market too much.
Coz we all know it’s crazy, especially the
crypto market.
For all we know, this could all be just another
April Fool’s prank made by a group of whales.
So the key takeaway of this video is dollar
cost average your investments, but that’s
not financial advice though.
That’s just me.
But let me know what you guys think?
What do you plan on doing?
And please tell me why in the comments below.
I’m interested to know what think.
As always, thank you so much for watching,
and if this really is a bullrun…well..
I guess I’ll see you on the flipside!

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