What is going on with BTC
A rather big question a lot of people in the community are waking up to or already awake and wondering what is going on with BTC right now. We are seeing what some people call unbelievable highs right now.
I on the other hand have been talking about this for awhile now. I still have a little of BTC left in the market, not as much as I would of hoped to have right at this point in time. I will still make a decent return but nothing major like I could have.
The market right now seems to be increasing greatly. My theory here is that unless we see some major price corrections soon or a decent amount of resistance we will be braking the 15 K barrier sooner than later and we should see a sharp spike within the next few days if this trend continues.
What Should You Watch Out For?
We know a wallet containing about $1 Billion in Bitcoin has recently been moved. This wallet is supposed linked to Silk Road. This account at any moment could start selling off Bitcoin.
Also Financial institutions that have bought into Bitcoin a couple thousand dollars ago may decide very soon to sell off a bit of that Bitcoin to limit risk of loss. Whenever you are able to buy low and sell high you rake in a profit which lowers the risk of loss that you face.
Hence you are generating money off of your Crypto instead of just watching rise to a peak and drop rapidly down with out collecting any money. You have to be careful when doing so.
Where I Went Wrong Yesterday?
So Yesterday morning I sold the majority of my BTC like I had been doing with the ups and downs. I was kinda half a sleep when I did this. I had been up all day and night following along with the elections only to learn that We won't have a President until all the drama is worked out.
Anyways, I fell asleep before I bought back into Bitcoin. So, now I can buy back in and watch the price drop off or I could buy and sell off at a higher price. That is the major risk. Which is why it is best to get into Bitcoin at an early stage.
The Future of Bitcoin
No one really knows what the future will exactly hold for Bitcoin. However like Elvis Presley Bitcoin is the King of Crypto no matter how you look at it. Maybe one day without Bitcoin someone would have had the same idea and acted on it. Who knows, but in this universe Bitcoin is what started the digital age of crypto currencies and the invention of The BlockChain!
With more countries accepting that Bitcoin is a reality that isn't just going to get up and leave and time soon we are seeing mass amount of people flocking in to the crypto world along with even more scammers, which is a given...
We have Financial institutions that feel safer investing solely in Bitcoin due to stock market uncertainty. We don't know day to day what will happen with the old Modern Investment solutions.
We don't really know day to day what Bitcoins going to do either. However we do know that the more the community grows and the more countries that adopt crypto and the more financial institutions that invest in Bitcoin the higher the price will go.
Therefore making Bitcoin a good investment source.
My Final Thoughts
If you follow my blog you already know I have been talking about how the price of Bitcoin is going to continue this way and I still stick with 30 K prediction on Bitcoin. I don't think we are far away from crossing the 20 K mark.
I honestly wish I had more money to throw into Bitcoin so I could make more money. I am kinda poor though I can't complain about my situation as I don't have as bad as most people do.
You should be really cautious these next couple of days as we should be seeing some type of price correction that will set the price back about $1,000.00 give or take. Like I expressed earlier if this current trend continues we should see a major spike soon.
Good Luck to you all! God Bless You, Thanks for reading and Stay Healthy!