Bitcoin price surges 15% in price — has it bottomed? Slow and steady wins the race — it’s a much bigger picture

Source: https://www.ccn.com/bitcoin-price-surges-15-in-rebound-action-has-it-bottomed-already/

Don’t ask me why the link had a tennis photo for the article — I guess becuase a tennis ball can “bounce” :-)

Anyway, unless you were away on a distant island, all of you are aware that Bitcoin and cryptos rebounded very nicely today.

Was is a result of the Fed Chairman saying that they won’t raise interest rates as much — which zapped the US Dollar and pumped precious metals, stocks and cryptos.

OR ....were cryptos oversold after Bitcoin hitting the $3,500 area.

Either way the question is “how high and how soon” will it get back to the $6k to $10k area. ( I know this is what we all want to know)

We all have opinions and thoughts on this — here are mine (disclaimer —- my opinion only — not investment advice).

I realize people bought at different prices and it may have created a sense of urgency within their financial plans for Bitcoin to get to $15K again — I can empathize with you.

However — the message is we need to revisit our immediate expectations.

Is Bitcoin or any of the top cryptos going away — NO.

Is there mass “manipulation” going on right now — which is frustrating —- but you do realize that large players are playing the market and they want the cryptos you have — it’s that simple. They have plenty of time and money.

Nothing has changed and don’t expect to get truth from our media and the hit jobs.

Crypto’s and the digitization of our society is the future and they will be adopted and there will be gradual mass adoption.

Governments will eventually have their own wallets and I imagine they will figure out a way to “take taxes” from that wallet at each purchase (we will see).

Just look at the exchanges coming on line in Q1 2019 and all the announcements each day —- all is going forward even as prices dip.

So maybe it will take another year for BTC to reach $40k - $60k area. Obviously, nobody can predict any exact prices but we all know what happens when BTC gets going again and the media will start pumping the % returns....same momentum as 2017 Q4.

Again — read up on Blockchains LLC buying 67,000 acres of Nevada land (over $270M) to build a blockchain crypto city —- BIG money does not do this without thought. And I understand Mr. Warren “ I hate cryptos” is one of the investors I understand.

Again — no promises — but it sure looks like all the companies and US States accepting BTC for taxes — this price blip doesn’t change thier plans.

Look no further than our friends at Amazon or what JP Morgan is doing....

Amazon does seem a bit confused with cryptos and blockchain — they have a “public face and a private face” when it comes to plans — like all these companies do.