Things are happening so fast in the cryptocurrency world, sometimes it's hard to keep track. Today, we'll explain why Bitcoin is on track for the moon ($10,000 breakthrough). Let's dive in!

Bitcoin is Preparing for a Moonshot

Investors and analysts are noticing that all of the right statistics are aligning for a "moonshot"; it's likely that Bitcoin could surge as far as $10,000 or above in the near future.

As you can see from the above price graph, Bitcoin gained almost 1000% in the course of just one year. Factors are aligning rapidly, and I personally believe that we should anticipate an unbelievable surge soon.

Additionally, from a trading point-of-view through SMAs (simple moving averages), Bitcoin is on the bull side of the market.

Bitcoin Showing Resistance to Negativity

Bitcoin's price is largely affected by news events such as Venezuela's recent crisis, and the CME Group's Bitcoin Futures announcement.

This is likely the single most important factor deciding the day-to-day price for Bitcoin.

A while ago, Bitcoin's price was extremely volatile and was easily negative affected by "bad" news. Jamie Dimon's insults threw the price downwards, while China's recent regulation and hostility towards Bitcoin also led to dipping.

Bad news still exists, literally everywhere; in the past few days, the CEO of Credit Suisse called out Bitcoin as a "bubble", Vietnam outright banned BTC payment, and many are still ranting about the "Dimon-era" claims of "tulip mania."

But these days, an interesting revolution is unfolding: Bitcoin is becoming increasingly resistant/resilient to bad news. Good news sees to still help spike the price, but bad news seems to be occupied with no attention or price change.

I especially loved this article by @jrcornel on why (like the Honey Badger), Bitcoin simply does not care about bad news. The increase in liquidity accompanied by this "psychological shift" is very good news for Bitcoin.

Mentally Prepare for All Scenarios

Though markets are showing signs for a bull run, there are many things that could happen. Specifically, make sure you're prepared for a correction scenario.

The strongest reason for a possible correction would be the upcoming "hard fork chaos".

If those who bought in earlier (pre-$5k) largely decide to sell right now in order to capitalize on their profits, a sell wall could build up. You shouldn't be too worried if this does occur, as this has happened to Bitcoin an unbelievable amount of times with smooth recoveries.

However, do be prepared for the worst-case scenario at all times. This way, you're not psychologically stressed by anything that happens. Remember that a pessimist is never disappointed.

Conclusions

All of the factors necessary for an intense bull run are being put into place, and hopefully Bitcoin goes through to $10,000 and beyond. However, it's important to be realistic at times and prepare for the worst-case scenario, so you can cope with the situation if it does occur.

Cryptocurrencies in general are the best investments you can make, yielding profits phenomenally higher than forex, stocks, commodities, and other markets.

As the first cryptocurrency, Bitcoin still has a long way to go before mass acceptance, but every day we're getting closer to reaching the moon.

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Thanks for reading,
— @mooncryption

image sources: 1, 2, 3, 4, 5, 6

note: Though I don't have a witness myself, @reggaemuffin does a lot to help minnows and users, so I strongly encourage you to vote for his witness or set @mooncryption as your proxy :)