Well, it looks like bitcoin went through the support around ninety two thousand dollar mark as if it was not even there.
Next support around eighty seven thousand perhaps? My news feed is full of stories about one hundred twenty six thousand being the current bull cycle top.
I think that when news is full of negative stories and fear in the market is at extreme levels and everyone getting to the same consensus that this is it, that means that we are getting close to a turning point and a nice bounce in the markets.
Hive is holding up quite well against Etherium for example, it is at least holding its own and perhaps even slightly outperforming. That is not an expected result as larger cap altcoins are supposed to perform better than the smaller capitalization altcoins.
I don't think this is the end of the current bull market, I think that the four year cycle is basically dead and Bitcoin is going to trade as one of a high risk mainstream assets as institutions are now on board and driving the price action in Bitcoin.
I believe that Trump administration is going to do everything they can to stimulate the economy, stock market and real estate market. And we will view the current dip as a great buying opportunity next year. If economy doesn't do well, then it will be really tough for the Republicans in the midterm elections next November.
So I think we will see a major pump next year going into the midterm elections.
Hive hard fork is around a day away and it is great to see that so many witness nodes are already running the latest version of witness software.
I have not gone through one of the hardforks in the past as a witness, so it will be interesting to see how it goes.
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