Main Reason Bitcoin is going to the Moon - Here comes $5,000 bitcoins get readysteemCreated with Sketch.

in bitcoin •  last year

FOMO the fear of missing out is driving most of this week's phenomenal bitcoin upswing, as more and more VC money is pouring into the ICO and cryptocurrency space, they are entering the markets at higher and higher prices with the assumptions that the price will go even higher. I believe this part is correct, the price will go higher and higher. They want to get in on the crypto craze at any cost. Normally over the last 12 months, when ever bitcoin prices go up it usually brings prosperity to the other altcoins, this is not always the case, The reason for this is that most of us are leaving our positions with these other altcoin to ride the bitcoin tidal wave. Bitcoin should eclipse $5,000 either before September or shortly after. The other benefit to the cryptospace is that this news is helping us get closer to becoming main stream and will speed up the process to main stream adoption by the masses.
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Image source: pixabay.com

As I was doing my daily rounds yesterday, nearly a dozen people (especially at my recently former job- I got laid off last week). Were approaching me asking how can they get into bitcoin, can i guide them through the process?

You all brace yourselves I believe we are in for the ride of our lives... I'm moving my entire portfolio to bitcoin and IOTA today.

Your thoughts?

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This post received a 4.8% upvote from @randowhale thanks to @artintelicoinves! For more information, click here!

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And here's an upvote for you, enjoy!

@artintelicoinves I must admit that I'm enjoying this nice increase that's taking place right now with the bitcoin. This ride has great potential to continue rising but I like to have a spread of coins. So I just take the bitcoin profits and buy cheaper coins who have rising potential. Steem on steemiteer

#circleoffriends

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keep your eye on IOTA, I have been doing a lot of research on them and they are serious about changing things fast. good luck and I will meet you in the millionaires club soon.

My guess is ~$6800USD BTC by end of Sept, with Oct likley being a rather moderate correction of ~30%, before rising back to all time highs and beyond in Nov (ending the year around ~$9000 and hitting the big $10000 number in mid Jan of next year).

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good analysis, I was considering creating a prediction contest where anyone could put in 1 BTC and guess the date the it will hit $10,000...the winner would get the entire pot. Just think if 10,000 people put in 1 BTC today that would be approximately worth say 40M USD if they were to be the winner they would collect 100m USD for their 1BTC bet and that could very well be in Jan 2018
Thoughts?

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@artintelicoinves That FOMO thing's going to make us some dollars, don't you think. :)

When will this upward momentum end though? The interesting thing to me about all these predictions is that we have no way of knowing what could happen. Bitcoin is so new relatively speaking that it seems to me that it would be hard to predict anything with any accuracy. I believe the one exception to that is that it is fair to say that it will keep rising for some time

@artintelicoinves this post has a lot of truth to it now, it sure is interesting looking at it from a noobs perspective. Been watching for years but got some BTC in Jan, would have been Nov if it had not taken so long to get in.