Bitcoin Cash Spikes 12%: Is the Anticipated “Altcoin Season” Imminent?

In the last 24 hours, the price of Bitcoin Cash surged from $ 287 to $ 322 by more than 12 percent as the valuation of the crypto market increased by around $ 4 billion. The 3 percent recovery of bitcoin led major crypto assets in the likes of Litecoin, TRON, and Ethereum Classic to record relatively large movements against the U.S. dollar. Why are Litecoin and Bitcoin Cash Surging While Ethereum and Bitcoin Settle For Minor Gains? Bitcoin spiked by more than 20 percent in the past week which played a vital role in changing the sentiment around the cryptocurrency market. But,

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I disagree Bitcoin will stay neutral or go down with this stocks and imminent next bear market and correction. Bitcoin was intended as a the correct response to the last crisis, however, wasn’t realized then. It will be this time.

I noticed the community insinuating that it will go down with the stock market because people will be trying to pull their money out of markets and look for safe havens in government issued assets and currencies, like the dollar, treasuries and bonds.

This is flawed logic and counter to the exact solution and correct response that Satoshi originated in the last crisis.

Bitcoin is a store of non inflationary, non government, digital money and value, that works better than gold, and is extremely powerful because of it's essence. It is a borderless, censorless, immutable, incorruptible, non inflatable measure we can use to evaluate assets distinct from third party interference. It is a power of accurate and true monetary assessment anyone can use. And with community involvement, and cryptographic developments, will become the central means of merchant and consumer exchange.

Stocks, treasuries and all assets were and have been inflated by governments, grossly and incessantly, since the last crisis to stave off the natural discovery of true underlying value within assets. We are now approaching the pinnacle of inflated valuations and indebtedness because of the governments bandaid response to the last crisis. They are simply out of tools now and there is a new measure of value that is immutable, namely, Bitcoin.

Bitcoin is the answer.

Bitcoin will be realized this time.

submitted by /u/danceprometheus
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