Just under a month since Bitcoin first hit $50,000, the price has now gone beyond $60,000. And while 10k climbs to new highs has become the norm in recent months, it is phenomenal growth when you consider where BTC was only a year ago.
On the 12th of March 2020, the price of Bitcoin plummeted in the midst of pandemic panic selling, briefly dropping below $4,000. Those who bought that dip have certainly been rewarded handsomely. As for the sellers... ouch! Betting against a Bitcoin bounce back is always a risky move.
Given the current momentum, it's mind blowing to think about what one Bitcoin could be worth by this time next year. My hunch is that it will make today's $60,000 high seem like a bargain. Bitcoin's history, so far, is that people always think they've missed the boat... or rocket, as the case may be. To date, this has proven to be false every time.
Are you on board? Bitcoin to the Moon!
Today was an historic day for Bitcoin, as it broke through the $50,000 barrier for the first time.
Back at peak of the 2017 bull market, when Bitcoin hit $20,000, there were those who were calling for an imminent surge to 50k. Instead, the market dipped and BTC retraced all the way back to $3,200.
Now for those who held, and kept the faith, the day has finally arrived. $50,000 Bitcoin has turned from a dream into reality. The next dream... 100k. It may arrive faster than many think. That's my opinion anyway.
From there... Bitcoin to the Moon!
Bitcoin smashed yet another all time high today, as the price skyrocketed on the news of Elon Musk, through Tesla, acquiring 1.5 Billion worth of BTC.
37k quickly became 42k, and by the time you tweeted out this new milestone, 43k and 44k were surpassed, with a final peak of $44,801.
While this is big news, I believe that it is only the beginning of what we are going to witness in 2021. New BTC all time highs will continue to be the norm, as one by one, the big end of town add Bitcoin to their company balance sheet.
Bitcoin to the Moon!
Bitcoin is breaking through all time high after all time high at will right now. It was just 18 days ago that it breached $20,000 and now the price is above $34,000.
There was little time to celebrate the historic $30,000 milestone, as Bitcoin surged onwards and upwards, smashing thousand after thousand, making it all the way to $34,544. The amount of that one day move was almost as much as the price of a whole Bitcoin back on March 17 last year, when it crashed to $4,944.
Now, I wonder... what will the next 18 days bring?
Bitcoin to the Moon!
Since breaking the $20,000 barrier, just eleven days ago, Bitcoin has continued its astronomical rise to reach a new high above $28,000.
In my previous article about Bitcoin's price, Bitcoin Blasts Above $20,000 Achieving New All Time High, I wrote, "In my opinion, 20k in 2020 is the new 1k of 2016." What's followed has strengthened my view of that being the case. This is not to say that there won't be some dips along the way, but over the course of the next year, Bitcoin seems set for a 2017 style bull run. This time, however, at much higher prices.
Another difference, is that in 2021, much of the buying will likely come from corporations, investment funds, banks, high net worth individuals and possibly countries, rather than your average person on the street. With that much demand and so few Bitcoin available to purchase, an upwards surge seems inevitable.
My overall outlook... you know it... Bitcoin to the Moon!
Bitcoin has blasted above $20,000 and is rising as I type. This is an all time high and an historic day for the original cryptocurrency.
To all those who have held onto their Bitcoin through the cycles of bull and bear markets, take time to celebrate. This is just the beginning. In my opinion, 20k in 2020 is the new 1k of 2016.
Look out 2021, this Bitcoin ride is about to get wild. Bitcoin to the Moon!
Since crashing below $5,000 in March this year, the Bitcoin price has climbed steadily. That is, until thirty days ago, when steady morphed into parabolic, with Bitcoin rocketing from $11,300 to $18,000 and rising.
Such a BTC price has not been seen since the peak of the 2017 bull market on December 19 of that year. The difference this time is that the market is far more mature, with huge leaps forward in terms of community, business and technology that have been built in and around the Bitcoin ecosystem.
To put this current price surge in perspective, let's take a look back in time...
In 2013, the year after the first Bitcoin block reward halving, the price rose from $13 to $1,000. This was followed by a bear market, where the price dropped to $200 during 2015.
In 2017, the year after the second Bitcoin block reward halving, the price rose from $1,000 to $20,000. This was followed by a bear market, where the price dropped to $3,200 late in 2018.
This year, the third Bitcoin block reward halving took place. As 2020 draws to a close, Bitcoin is knocking on the door of $20,000 once again. In 2021, do you think that the previous price pattern of 2013 and 2017 will repeat, but this time with a substantially higher starting point? I do. Bitcoin to the Moon!
Bitcoin is back above $10,000 for the first time since September 23rd 2019, when it dropped below that point after a surge beyond 12k.
$10,000 is a strong psychological price level for those on both sides of the market. It instills confidence in holders of Bitcoin, while creating a fear of missing out for those yet acquire some.
If Bitcoin can spend time consolidating above 10k, it will build a foundation from which to launch to much higher prices. Bitcoin to the Moon!
Boom! The Bitcoin rocket went parabolic today, blasting from the low 11,000s through $12,000 and onwards, falling just short of $13,000. While the price has dipped slightly since then, BTC is still showing strength and appears to be building for another push higher.
Above, you can see the current move compared to the Bitcoin bull run of 2017. Once again, the angle of the surge is nearly vertical. Strap yourself in, coz it looks like we're in for a thrilling ride. Bitcoin to the Moon... all aboard!
Bitcoin is on a tear today, smashing through $10,000 and now $11,000, with no signs of slowing down. This latest move, means that BTC's value has more than tripled since its yearly low in February.
The mood amongst cryptocurrency enthusiasts is reminiscent of the 2017 bull run, which reached a point where daily $1,000 moves upward were expected. This time, however, the expectation is for a much higher level to be reached. While such gains are by no means a certainty, the belief in a significant new all time high has Bitcoin history on its side.
Will the dream become reality? In my view, yes. Bitcoin to the Moon!
Bitcoin to the Moon is dedicated to following the original cryptocurrency on a journey to its ultimate destination.
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