Bitcoin has finally broken to the upside, crossing the $7,000 mark after an extended battle in the mid-6,000s. This is welcome news in a market that has seen many people in the crypto space, down and discouraged about the BTC price, despite its fundamentals being stronger than ever.
Some traders say that this Bitcoin price spike is a 'dead cat bounce' or 'short squeeze' that will soon be followed by new yearly lows. While some hodlers predict an incoming all time high. I say that short term price movements don't matter, unless you absolutely have to sell due to immediate financial stress or having invested more than you can afford to lose.
Otherwise hold. The 2020 Bitcoin halving, when the block reward will reduce from 12.5 to 6.25 BTC per block, is less than two years away. Remember what happened to the price leading up to the last halving and in the year that followed? I'll give you a hint... Bitcoin to the Moon!
Bitcoin to the Moon is a blog dedicated to following the original cryptocurrency on a journey to its ultimate destination.
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