Bitcoin Begins To Pull Back After Hitting $5000 USD - What This Means

A few hours ago I posted about how Bitcoin was about to hit $5000 USD. Well on some sites, it hit $5000, others it hit $4975 and stopped. Either way, people are selling off... and fast!

Bitcoin is now sitting around $4638 just a few hours after hitting the peak.

Firstly, do not panic and unless you want to take a bunch of profit, HODL!

Secondly, I can't help but feel the $5000 USD mark is arbitrary.

We don't start selling off our fiat when it reaches a certain amount of Satoshis. We have to as Bitcoin lovers stop basing things on arbitrary US fiat numbers. $5000 USD is $6198 CAD (that's Canadian fiat). It's 3860 Pounds. It's 551345 Japanese Yen.

Again, who cares?

$5000 is just an imaginary landmark. A make belief pinnacle that we as people who've moved away from the central banking system should understand.

My point is this... Bitcoin will continue to climb to the sky as I mentioned in my previous post. It will also correct many times on the way to the top, again as I mentioned many previous times. By fundamentals we will see both of these events take place. But we HAVE to stop basing it on other fiat currencies as the fiat empire comes falling down.

We are watching the dollar crash and burn at a very slow rate. The fundamentals in the fiat system are off the table due to the level of manipulation, so we can't put a date on it but we know it's going to happen. With the debt ceiling decision coming up on the 29th of September in the United States, there's a good chance we will see the brakes fail. Not to mention the countless swaps away from the US world reserve currency throughout the world. The faith is quickly lost and a lot of that (thank God) is due to Bitcoin.

At the same time as this, the stock market is ready to come crashing down. We are seeing the EXACT same trends we've seen before every stock crash in history. Yeah, it all looks great to those who haven't studied history but it's about to blow sky high and not in the same way as Bitcoin. We are about to see the chains come loose and an EPIC fall to the bottom of a pit of debt.

All of this is happening while people flood the commodities markets. Gold and silver are rising despite the vast manipulation and ETFs. Bitcoin is rising alongside many other altcoins as people flood the market and pull out of the stock market. As I mentioned in my previous post, 30 billion dollars was pulled out of US stocks by investors in the past 10 weeks alone! This is all good news for the crypto and precious metals market as the system comes crashing down.

So DON'T panic! Bitcoin will likely hit $7500 USD by the end of the year easily. By the year 2020 as I've so often mentioned, at the 7 year daily average rate of growth, Bitcoin should hit $250k!

So the point of this rambling post which I'm writing as I sit here at 1:15am local time is... Keep calm and HODL. You won't regret it. As I said before, TO THE MOON! ;)

Thanks for reading! Don't forget to Upvote & Follow! :)