So Bitcoin seems to be on the way back up, and in a big way.
And when you look at the news you can see the correlation with good news about Bitcoin, and the rise in value.
It was bad news, fake news, and everyone saying the ‘Internet Bubble Will Burst’, that cause the original fall of the dotcoms.
That would never have happened were it not for newspapers at the time seizing on every bit of bad news and exaggerating every loss or failure to thrive fast enough, as the end of the dotcoms.
Well, now the internet rules the world. Fake news still gets out there, but it doesn’t seem to affect the public as much. Perhaps The new algorithms of social media are managing to block most fake news, or bring it down quickly. Whatever the case, when you are researching something check multiple sources.
You don’t see the following, stamped on fake news…
And don’t forget this subtle but important fact – real news can easily be flagged as fake news, when people with an agenda want the facts ignored…
Current Bitcoin Value
Bitcoin at the moment is hovering between $5300 and $5400 USD. (Recent update, USD 6150. When I wrote my previous article in February, it was standing at less than $4000, and I was praising a rise of $200 in a week.
Now, that has accelerated to over $350 week by week as this article is being written. The trend is rising, possibly exponentially, and trends, although nothing is guaranteed in the crypto world, tend to continue.
Bitcoin news tends to drive Bitcoin value, because, to state the obvious, good news makes people buy, and bad news makes them sell. So let’s have a look at what is currently being said by some influential figures in the arena.
Bitcoin All-Time High Prediction
[…Also, ScienceGuy9489’s prediction came along with a new all-time high of cryptocurrencies prices in the next bull run. He predicted Bitcoin to reach $28,100, Ethereum to reach $2,090, Litecoin to $650 and ripple to skyrocket to $4. This came with no specific date this time around.
Meanwhile, billionaire and cryptocurrency enthusiast, Tim Draper maintained his prediction of Bitcoin reaching the worth of $250,000 by 2022 in a recent interview while slamming Jamie Dimon, CEO of JPMorgan. If the next bull run spans the next three years, Bitcoin could actualise the price of $250,000 by then.]
Also, John McAfee predicts Bitcoin to be worth $1 million by 2020. Though it seems unrealistic, […] anything is possible. And that date is not far away now.
There is even recent talk of Microsoft buying the development repository, Github (Link to video about Github). If that happens, Microsoft will have a great interest in the success of Bitcoin and other cryptocurrencies.
More Positive News
When you look at the way Bitcoin value is rising, it seems clear that this is not currently being caused by huge investors pumping millions into Bitcoin. Although that is going to happen soon in my personal opinion.
The value rise is being caused by tens of thousands of ordinary investors buying anything between portions of a coin and ten or so Bitcoin.
I’ve written about this before. Sometimes I’ve been right, sometimes wrong.
But there is a lot of talk now of big investors getting involved and that could easily pump the value of Bitcoin back to above and beyond its greatest high (around $20,000 USD), With the current market cap at around $94 Billion, you have to sell around 1000 Bitcoin to drop the price by $5.00. That is $15,000,000 (fifteen million US dollars) worth of Bitcoin.
But Bitcoin is once again growing in value. Even the Central Banks can’t compete with millions of individual investors and firms with more capital than most banks.
And this filters down to smaller personal investors who don’t want their retirement fund to look like this:
The more Bitcoin rises, the more you buy, if you can afford it, in the hope that the rise in value will continue.
I would just urge people not to be too hasty, selling again as soon as you see the price fluctuating down. At the moment, there is a steady rise, but if you keep looking at the charts you’ll see that despite the overall rise in value, from one day to the next the price can fall a bit. It’s just that it is going up further, overall, then dropping at present.
As usual, my disclaimer – this is personal opinion, not financial advice. If you do your own research, read about forthcoming big events around Bitcoin, and make your own decisions, you’ll be better off than taking one person’s individual word on what is going on. Of course, never invest (in anything) more than you can afford to lose completely, without feeling discomfort about the investment.
What do you think? Please leave your comments below. Is Bitcoin value going to go through the roof?