BOOM! Bitcoin Rockets To New All-Time High As Cryptocurrencies Surge Higher!

in bitcoin •  last year

All eyes were on bitcoin on August 1st, as it underwent the biggest change it had undergone since its inception in 2009.

After years of debate, the issue of scalability resulted in a fracturing of bitcoin onto two separate paths, now called Bitcoin and Bitcoin Cash.

The usual cast of characters came out to warn that this was the death of bitcoin. And, as it always seems to do, bitcoin pushed on unscathed.

In fact, it was more than just unscathed. Just days after the fork it skyrocketed to new all-time highs.

On August 1st, bitcoin was trading at $2,735 and it hit a high so far today of $3,329 for a gain of 22% in the last few days.

And, that’s not including Bitcoin Cash which everyone who was holding bitcoin on August 1st also now has.

Bitcoin Cash has sold off the last few days and currently sits just over $200.

The two combined mean that anyone holding bitcoin on August 1st now has over $3,500 worth of bitcoin and Bitcoin Cash.

The entire cryptocurrency space skyrocketed today, with the exception of Bitcoin Cash.

The all-time high for market capitalization for the entire cryptocurrency space was $116 billion in June, and we currently sit just shy of that at $111 billion.

Those who have been following bitcoin for the last year know that bitcoin was hurt by its slowness to scale in the face of rapidly rising usage and it allowed many other cryptocurrencies which can handle larger volumes to gain on bitcoin’s dominance.

Bitcoin fell from 86% dominance in the crypto space to start the year to a low of 38% in June. But it has now begun to regain some of what it lost and rose about 50% just prior to the fork.

We’ll see if that continues now or not. And we’ll also see what kind of effect Bitcoin Cash has on the market in the coming weeks and months.

Believe it or not, this whole scaling issue still isn’t over and is expected to continue on at least until November.

In order to ensure you get all the best and most up-to-date information on what is happening in the space, subscribe to The Dollar Vigilante newsletter (subscribe HERE) where we have been covering bitcoin and cryptocurrencies since bitcoin was $3 in 2011.

Our next issue is coming out soon and I’ll reveal some shocking information about bitcoin that could potentially make or lose many people fortunes if they are unaware of it.

And when you sign up, you also get immediate access to our book Bitcoin Basics to give you all the basics you need to know to get started in the cryptocurrency space. And you get free access to the e-book, The Book Of Satoshi, which I call the “autobiography of bitcoin”, directly from the keyboard of Satoshi Nakomoto himself.

Make sure to subscribe HERE to get access to all of it.

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:  

Seems like Bitcoin is now once again leading the way in the crypto bull market but that might change back again in a couple of months

LET'S GET IT!!!💯 💯 💯 💯 💯 💯 💯

·

Hehe

Next stop $10,000!

Bitcoin is KING

BCrash is living up to its name.

I'm glad people are selling Bitmain Centralized Coin and buying BTC. It shows a commitment towards the future, with the non-event of scaling nearly behind us, the future is very bright.

It also emphasizes that people attempting to railroad Bitcoin users into a predefined agenda will fail, again and again, when the dust settles. Even with a concerted transaction spamming campaign by Roger Ver and Jihan Wu, they didn't succeed.

All they did was make Bitcoin stronger. It must be a bitter pill to swallow for those that are trying to wrest control away from Bitcoin users.

Even with a substantial pull-back, (we tend to retrace after large round-number targets), we'll still be stronger and able to push back into the stratosphere.

·

You seem to be calling the winner before the horses have even entered the straight.

·
·

It'll reach 5k hopefully!!

·
·
·

Hope makes a poor trading companion.

·
·

If BCrash was a horse, I would've had it put down out of mercy.

Go ahead and buy with both hands, that's the beauty of a free market.

I'm not going to touch it because I'm aware of larger risks endemic to its formation and governance.

·

🤙🏼

·

🤙🏼

·

Majority rule, BITCOIN doesn't equal cash, it's better!

Big news came out as we are getting closer to option trades and tapping into stock markets with bitcoin. When it becomes successful expect bitcoin to be valued at $25,000 per coin + its going to be crazy!

·

your bang on

·

Precisely.

Institutional money is getting starved for yields due to extraordinary low interest rates on fixed-income, and lackluster equity performance compared to crypto.

They want in, and they're going to get in. Couple that with the fact that there are only ~4.5 Million BTC left to distribute, you have a potent mix.

After the wild ride Bitcoin has been on in the last few months, it was a joy to sit back yesterday and watch it hit new all-time high over and over again!

Great article btw!

Still new to crypto. Learning as much as I can about it.

The poem 'if' by Rudyard Kipling (1895) could have been written for us Crypto's.
The ups, downs, stresses, rewards, losses, gains, lessons learned, experience gained and the fun we have doing it. ; )

·

I agree! A very pertinent poem for the situation.

Good one, lets hope that the rumoured 3rd bitcoin wont be a reality , however if great for us, then ok

"Very nice post" a message with respect from a Student who needs extra income to help his parent. Follow & Upvote @lordmp27

Awesome bitcoin , very soon follow by steem dollar in preparation to boom likewise

It seems that many exchange their bth for btc or other cryptocurrency. Thanks to the bitcon fork which create buying power ^_^

It's really cool that bitcoin is rising so high ! It makes all other cryptos grow as well. Hopefully the market won't crash again soon just like other times when the market hit big numbers.

Makin ALL kindz of gains.... ALL kinds... Yeeeaaahhhhh

just subscribed to your newsletter.patiently waiting for the next edition, really an avalanche of bitcoin info.thanks for sharing

Like a boss!

BTC TO $5000 Jeff?

It is as if the market is "punishing" the challenger. Bitcoin Cash has the merit of a larger block size, but it needs more going for it than that to remain in the top tier of crypto. It needs developers, apps, and wider acceptance.

Meanwhile, Bitcoin/Segwit is doing great! I am hoping for large buying opportunities in November (the next fork). In the meantime I'll likely buy some hashpower, do some dollar-cost average buying, and keep an eye on promising alt coins.

Whether you regard this last fork as brave or foolhardy, I think the issue of block size is still vital, and I must still side with Roger Ver when it comes to BTC moving forward. Bitcoin is the proverbial whip with which we drive out the globalist money-changers. That whip will only be effective when transactions are very quick, and super cheap--and block size makes that happen!

I made a wrong move as i traded my Bitcoin when its value was 3136 usd, I thought it will not increase that high!

Honestly I cannot believe it. I wonder what the end of the year will be like.

I have been watching it all day at work and my heart has been racing!

ow ar low educated people ever going to buy a sandwich with Bitcoin as currency? One store sells the sandwich for 0.000000177 bitcoin? And the other vor 0.000000384? How can we calculate transactions with this highly valued bitcoin as a currency?

when will we receive out bitcoin cash? i mean the owners of bitcoin in paper wallet, anyone know

On Aug. 1 I wrote, “Ravaged? I predict new highs as Bitcoin cash dies. We're at $2907 now...”. On Aug. 4th we hit new highs. Bitcoin. Use it. Live it. Love it. Proof – https://steemit.com/bitcoin/@hilarski/bitcoin-hardfork-party-all-night-long-are-you-prepared

Thanks @dollarvigilante ! Always a top source of information which gives me much needed confidence at times.

Do you think the actual activation of SegWit will cause any issues?

I'm wondering if it could take the price of BTC even higher or potentially cause issues as potential new investors get even more confused and stay away.

I'd also like to see what comes of the Reddit thread that's doing the rounds: https://steemit.com/cryptocurrency/@cryptomagic/segwit-activation-and-reddit-user-riles-up-bitcoin-cash-community-with-ususd900-000-purchase-hoax

Bitcoin Cash is taking several hours to confirm a transaction. I'm waiting for some of it to move from one exchange to another to use for purchasing PIV.

Cheers! I think we will be able to make these "Bitcoin at New All Time High" posts a lot more frequently throughout the rest of 2017! Thanks for the well written article as always Jeff.


Upvoted & Following

Keep in mind the skyrocketing price of Bitcoin (proper) is most likely just a quick surge due to the fact people can now deposit their Bitcoin Cash into exchanges and sell it (most likely for Bitcoin proper). Once a lot of people have sold off their Bitcoin Cash, it will probably settle back down.

Congratulations @dollarvigilante! You have completed some achievement on Steemit and have been rewarded with new badge(s) :

Award for the total payout received

Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here

If you no longer want to receive notifications, reply to this comment with the word STOP

By upvoting this notification, you can help all Steemit users. Learn how here!

You are smart!

I have 1.5 Bitcoin and apparently I now have the equivalent in Bitcoin Cash but haven't a clue how to get it or where to store it when I do manage to get it ...... sigh ...... guess I will just keep reading articles and watching YouTube videos until I can really understand it all!

·

Basically you need to access your private keys from within a wallet that supports Bitcoin cash. Which wallet do you currently use?

This past week has blown me away with the awsome gains.

and I was hoping to buy at lower prices ... will have to wait for the next train

This post has been ranked within the top 10 most undervalued posts in the first half of Aug 06. We estimate that this post is undervalued by $89.06 as compared to a scenario in which every voter had an equal say.

See the full rankings and details in The Daily Tribune: Aug 06 - Part I. You can also read about some of our methodology, data analysis and technical details in our initial post.

If you are the author and would prefer not to receive these comments, simply reply "Stop" to this comment.

Hey @dollarvigilante (Jeff) been following you for years- have started podcast recently, it is about people doing remarkable things, whether entrepreneurs or not.

Where we talk about what you are doing, believe in and what difference you are making in the world.
It is part youtube channel where the mission is to help 1,000,000 entrepreneurs become remarkable, and the podcast acts as a way to share stories and connect with people.

Here is the playlist of the existing episodes: https://www.youtube.com/playlist?list=PL5CpCNPna6p95oJfKPew0N3ZT0k-khdgg

It is audio only over skype. Would love you to come on the show and talk about yourself. Does this sound of interest to you?

At least Bitcoin may be able to get to the moon then!

Congratulations @dollarvigilante!
Your post was mentioned in the hit parade in the following category:

  • Upvotes - Ranked 10 with 388 upvotes

... and the rally does not seem to be over yet.

·

Where will it stop?

The BCC event was a gift from the Crypto gods. I sold most of mine 8/2 on Bittrex at 0.40000000 sats and 0.37100000 sats. Now, with BTC shooting up that free investment is looking even nicer. Honey Badger takes second place to nothing.

What do you guys think about Antshares? I really like alts because my actual quantity of BTC can increase through holding. is that even sound logic?... I'm so hungry... haha

I'm a student now and got into crypto because of you! Hopefully i'll be rich because of this in the future :)

It was said and done, nothing beats the original.

I personally don't like the idea of another Bitcoin, but I now have 42 free Bitcoincash in my account.
Been hearing a lot of chat of it taking over so I will hold them, I have nothing to lose.
Thanks for your posts Jeff.

Good points in this blog. Really appreciate you bring this to our attention. The current total market cap of all cryptos might seem high but blockchain is here to stay and will involve all our lives. I do see a bright future for everyone that's hold's their coins with a long term vision. I found this great website: https://www.coincheckup.com Every single coin can be analysed here based on: the team, the product, advisors, community, the business and the business model and much more. Check for example: https://www.coincheckup.com/coins/Bitcoin#analysis To check Bitcoin Detailed report