Bitcoin Sets New all Time Highs - $3,000
Steem and other currencies rise as well on BTC Surge
Photo Credit: geocities.ws
"A Rising Tide Lifts All Boats"
Right now, Bitcoin has rallied to an all time high of $2,892.00 USD and is on track to hit $3,000 USD for the first time in history.
Chart Courtesy of Coinbase
Note: All though some Korean exchanges briefly saw highs of $4,000 USD, this has more to do with the shortage of Bitcoin on these exchanges at the time and other factors unique to South Korea.
When and if the $3k price is reached, expect a pullback as some investors jump off the "Crazy Train" and take profits.
As expected, investor and especially amateur investors, don't want to "Miss the Boat" (again) and are buying anything they can, that could make them a quick profit.
Here are a few current prices as of 7:52 A.M. MST
All Prices are in U.S. Dollars
Steem - Trading at $1.96 (up 27.64%)
Litecoin - Has rebounded to $30.35
Ethereum (ETH) - is trading at $263.28
Dash - Price is $145.97
Monero (XMR) -Selling for $51.99
It will be interesting to analyze trading after the dust has settled. The only recent factor that I am aware of is the "Un-Freezing" of Chinese Bitcoin accounts that occurred on June 1st.
The only, possibly negative or positive event on the horizon is the User Activate Soft Fork (UASF) of BIP 148, which rolls out on August 1st. Chinese miners, who control 72% of World Mining Power, have universally indicated that they do not intend to support this Soft Fork of Bitcoin.
So, that's what we know. Fasten your seat belts and prepare for a "Wild Ride".
Photo Credit: findingdulcinea.com
Note: This post is for informational purposes only and represents the authors opinion.This isn't intended as investment advice.
Readers whom wish to invest in precious metals and other assets should conduct their own due-diligence, including consulting with a qualifed investment advisor.
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