Bitcoin Surges To New All-Time High Near $8,000 As Wall Street Plunges In

in bitcoin •  9 months ago

The market doesn’t seem to care too much about my conspiracy theories or my dislike of the direction of bitcoin. Or maybe not… more on that below.

Bitcoin rose more than $600, or over 8% today to a new all-time high of $7,983.72.

One year ago today bitcoin was $742, meaning that with today’s rise of over $600, it nearly rose more in one day than the entire price a year ago.

Bitcoin Cash (BCH) has been the net loser on bitcoin’s rise, now trading near $1,000 after rising, briefly, to over $2,000 last week.

I said a few months ago that, for the first time, I was seeing the traditional investment community begin to get very interested in bitcoin.

What we are seeing today is that slow trickle turn into a tidal wave.

First, the Chicago Mercantile Exchange announced that they would launch bitcoin futures in the fourth quarter of 2017, pending all ‘relevant regulatory review periods’. We are still waiting to see them do it, but it is apparently set to go by the end of this fiscal year.

Also Wall Street money has been moving in somewhat surreptitiously. As we mentioned back in September, Jamie Demon’s JPMorgan was the 4th largest buyer of COINXBT - an exchange-traded note based on the underlying value of bitcoin and traded in Swedish Krona.

Plus, institutional investors like former hedge fund manager Michael Novogratz of Fortress who is launching a $500 million digital assets fund through his new firm, Galaxy Investment Partners. It will be the largest fund of its kind.

Wall Street has finally awoken to the power of bitcoin and blockchain technology. And, they don’t really even care about the initial vision of bitcoin nor that its fees and speed may be making it unusable as a currency.

All they really care about is that it has been going up, a lot, and that the blockchain space is like the internet in the 1990s.

What does this mean? Well, with traditional money flowing into the market we could see bitcoin hit Jamie Demon’s price target of $100,000! In fact, maybe that was his plan all along.

Because people like Jamie Demon don’t care about bitcoin destroying central banks. In fact, he wants to stop that. So, if they can somehow take control of it through Blockstream, make it slow and expensive, convince everyone it is truly “digital gold,” blow it up to $100,000, sell it all and demolish it… then they’d make a fortune and destroy bitcoin in the process.

That’s what Wall Street does.

We’ll see what happens and I’ll be updating subscribers in the next few days on how to play the latest developments.

With bitcoin hitting another ATH, we’ll once again offer our special discount on the TDV newsletter HERE.

In the meantime, I never recommended selling bitcoin and have not sold any of mine… so, no complaints here about another all-time high!

Combined with Bitcoin Cash, which I also recommended HODLing, we are now on the cusp of $9,000.

I think a white rapper once rapped about bitcoin saying, “Now it’s $2k, on it’s way to $10k”.

Getting very close.

And, oh yeah, f**k you, Ben Bernanke!

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

cmw starts on 20th November with 50 tester customers

Great work Jeff.

And, oh yeah, f**k you, Ben Bernanke!

Seconded!
The man that saved the world?! What an arrogant deluded tool.
Resteemed.

Awesome thanks for the write up. I decided to buy a good bit of Bitcoin before this big jump just a few days ago. It is definitely on it’s way to 10k. What do you do when it hits 10k though? Is it going to be a huge sell out after that? I guess we shall see!!!

Now what’s the next big crypto to hit 4 or 5k, Ethereum maybe?

Ever heard about Rootstock (RSK)? It will be launched as a sidechain of Bitcoin in december. 2000 tx per second / instant and programmable. You call that slow? And this will come in 2018:
https://bitcoinmagazine.com/articles/lightning-network-now-supports-transactions-across-blockchains/

great post once again......

·

You have collected your daily Power Up! This post received an upvote worth of 0.18$.
Learn how to Power Up Smart here!

Man oh man the flood gates are going to open come 2018!!

Great post!

The more exposure BTC has the better, even if it's on the CME

Sounds like you have a hard on for Ben. He might be the next Batman

I am really happy to know that bitcoin reaches new high value today. But, you make me think of the possibility that they will demolish bitcoin one day when they got all the best of it. :( Anyways, I am happy to be able to understand bitcoin currency before it is too late. It is indeed an exciting currency to own and this new high makes me want to earn more bitcoin. Thank you for this content.

Hi DV, do you think it is bc the DS is hoping to turn it into the NWO global currency?
Upped and following @dakini5d

·
Do you think your keyboard will last longer if you just type half the words? Well, it would last even longer, if you just had a look at BitCoins open source code or, even easier, just had a look at the way BitCoin works. Then you'd discover that BitCoin is most unlikely to serve the purposes of the globalists, since it has all the properties that they don't want. Here are some of them:
  • anyone can use it without restrictions and without permission
  • it can't be controlled by a central regulatory body
  • it can't be generated at will
  • it has no single point of failure / control
  • it allows anyone to participate
  • it is push asset like cash (which is why they want to get rid of cash in the first place)
  • it is peer-to-peer (no intermediaries)
  • it is limited by mathematics
  • it is decentralized

Every single one of these properties is actually exactly the opposite of what they want, so the answer to your question is negative.

I see an awakening of the masses to what fiat currency really is ( rubbish) .

Market is globally and there is a platform for easily investing and trading. Therefore, bitcoin will go up and down quickly. It is hard to predict. However, bitcoin become trust currency. It will go up

I noticed this hahaha. Wall street has been in red since this morning and caching for us

What would it be its future, good or bad. And why it rise that up when its transaction fee was to high. Soon it wont be affordable.

New all-time-high means BTC will not go back down below $6000. Time to buy a little more coins :) Upvote if you agree :)

thats true...this time yesterday bitcoin was around $6300 but now rose quicky and altcoins are mostly in the red... with BCH and BTG that surged last week delving downwards... thanks for all the updates @dollarvigilante always my crypto master!

Seems like altcoins are experiencing Christmas Day (Red Day) today and the many days to come.

Why Bernanke? I thought he's history...

That seems crazy! I still can't believe we are kind of going to the moon... Still think about how many people might sell!

Interesting take..I hope that target price of $100K is achieved...but hopefully not with the route you are referring to. Only time will tell..for now, let's enjoy the times. We are witnessing history! Thanks for sharing.

Awww. You tried to move the markets and you failed? Poor Jeff! LOL

Having said that, I'm with you on the "conspiracy theories". When people like you said bitcoin is immune to manipulation, I laughed.

·

That counts even more for Bitcoin Cash....

@dollarvigilante - I'm not a fan of your conspiracy theories but if bitcoin keeps going up, all can be forgiven... besides live and let live. For that reason I'll hodl some BCH.

Upvoted, re$teemed & following!

Great post

Hi Jeff,
Long time reader of your work, and respect your opinions as they are your own without concern for the responses you receive/backlash. . You are a good example for how Americans should learn to think for themselves.
Thank you!
@rawdawg

Woot woot! 10K by Christmas is looking too easy

·

LOLOL how about 20! @dollarvigilante

Wait for the big raise, I truly believe that it will reach 10k by end of this year.

#Boom #NextLevel Awesome content Jeff, the party has just begun!

What a wild month for BTC! I can smell 10k by EOY. BTC is proving time and time again that it can make it through the negative publicity, and honestly turn that into good. You know what they say, all publicity is good, so maybe we should actually be thanking Jamie Dimon and these other hacks that try to bring us down LOL. What doesn't kill us makes us stronger. Great post, bud!

I was foolish and sold my BTC at 7k. Now I won't pay 8k for it...

·

You sold all of them???

Hold on tight, the ride has just begun. Never sold any, so glad it is now going strong again.

Patience has been the name of the game, well said @dollarvigilante

Excellent post.

Congratulations @dollarvigilante, this post is the forth most rewarded post (based on pending payouts) in the last 12 hours written by a Superuser account holder (accounts that hold between 1 and 10 Mega Vests). The total number of posts by Superuser account holders during this period was 849 and the total pending payments to posts in this category was $3611.35. To see the full list of highest paid posts across all accounts categories, click here.

If you do not wish to receive these messages in future, please reply stop to this comment.

So much has happened the past week! Now Segwit2x might happen after all in a few hours. If it does happen, what effect on BTC price?

Díky za pěkný článek. At zije Arbolet

At this point it almost feels like playing with Monopoly money. “If only this were real money!” But hey, it’s worth more than real money and you can buy in with real money. @dollarvigilante do you want to spot me a BTC? LOL!

How far do you foresee BTC rising before it plateaus or crashes back? And do you see it crashing completely or will it always have value (for the next 10-20 years at least)?

Your thoughts?

·
It will always have value for those who use it in the way it is meant to be used in the first place: as a currency.

Have a look at Venezuela and you will see what BitCoin is actually meant for: To free the people frrom the yoke of Fiat and throw off the hand of the oppressors.

But maybe mankind isn't ready for BitCoin yet, because all most people use BitCoin for is to make more fiat money. What could possibly be lost if mankind drowned in its own stupidity?

BitCoin amidst the Crisis in Venezuela

·
·

That's an interesting thought because I look at it still in terms of fiat. Isn't that comparison the entire reason why it's becoming so popular and rising so fast, though?

If that interest wains, so does the use case and value, if you ask me... but I still, personally, think it will be viable in the years to come. Maybe, just maybe, in the future Bitcoin will be the Global Currency... or perhaps it will be a different Cryptocurrency that's currently worth just a penny or 2 now that becomes more valuable.

That would be interesting to see.

·
·
·
BitCoin already is the first global currency. And in the industrialized nations it is viewed as nothing more than just a speculative asset. However, the main audience of BitCoin is not that one billion (maybe less) hyper privileged people who have full access to classic banking. It is the billions of people who live in cash based societies, and who were never invited to participate in the fiat banking system. BitCoin doesn't care if you have good or bad credit, it doesn't care what cast or race or religion you are, you don't need an ID, you don't even need to be human.

It enables a Kenyan farmer to break free from the restrictions of his own corrupt government of selling him overpriced crops - if any at all - by ordering it directly in China and have it delivered. It enables the Afghan woman in some remote village to sell self-made handicraft or some poor but brilliant guy in North Korea to program software for companies in the US and actually getting paid for doing so. BitCoin is not about making fiat money. It's about breaking the banks.


London Real: Andreas Antonopoulos - Bitcoin (Part 1/2)

Great post as usual!

Do you think Steem could follow the same steps?

I wonder why other (very strong) cryptocurrencies do not manifest such a fast grows.

Haha great job Jeff. Fuck you Bernanke

As always, awesome post.

Bitcoin’s Future Valuation
Forecasting bitcoin’s long-term price trajectory is no simple task, but that hasn’t stopped industry proponents from giving lofty valuations about where the digital currency is headed. Last month, serial strategist Tommy Lee said $25,000 was too conservative of a price point for bitcoin.

John McAfee, who plans to launch his own cryptocurrency, believes bitcoin is already headed to $500,000. He believes it will get there in three years.

In an amusing Twitter post, McAfee added the following:

“I have a doctorate in point-set-topology. It predicts BC at $2,431,031 in 3 years. other math systems – between $1,900,000 and $2,600,000.”

Bitcoin’s investment appeal stems from its function as a store of wealth and utility as a censorship-resistant global transfer system. Price independence is also one of bitcoin’s astonishing features.

The @carnival-of-rust bot likes your post and gave it a 100% upvote

Careful, My forecast through 31 December bitcoin will fall by 40-50%

Careful, My forecast through 31 December bitcoin will fall by 40-50%

100K by 2019 - that 's the plan!