Bitcoin Gaining Acceptance Among Traders

After years of scoffing and proclaiming Bitcoin is dead, it seems that traders may be slowly waking to the potential to this potentially world-changing technology.CC0 license

The first indication of this is an article currently running on The Street in which thy note that the popular traders’ social network, Tradebird, is showing a 98% bullish sentiment to the chance of Bitcoin breaking out. Comments in the Bitcoin chat room include predictions that Bitcoin will breech an new all time high in the beginning of February.

The second indication is an article currently running on NewBusiness.co.uk. In this article, they author asks if Bitcoin will replace gold, and then give a decidedly firm ‘no’ as an answer. Typically, the article would give a few jabs to the absurdity of Bitcoin before signing off, but that’s not how this article goes. Rather, the article serves to note that Bitcoin has recently become “a problem-solver in times of economic trouble.” The author then moves on to note that Bitcoin and gold are complimentary, not in competition.

As a final prediction, the NewBusiness.co.uk article goes on to describe the likelihood that blockchain technologies will become engrained in our economic systems.

Now it’s our firm belief at BitcoinWarrior that short-term price predictions of Bitcoin are ludicrous. But, we believe that there is a high-chance that Bitcoin will experience an L curve with sudden mass adoption and commiserate price increase. After that moment, we will see Bitcoin become an integral part of our financial system.

We’re happy to see that some traders at least, and the press that they read, are catching on.