Bitcoin price rises sharply and can record price gains. The picture shows a price curve as well as stacked bitcoins.
The Bitcoin course is currently extremely strong. This not only pulls up BTC itself, but also again many Altcoins, which have had to struggle with falling prices in recent weeks. The Bitcoin Evolution is currently around 11,500 USD, a level that we last fell below at the beginning of September. At the time, the BTC price reached up to USD 12,000 and failed several times due to the existing resistance.
Bitcoin course reacts to bullish news
The last few weeks have been rather bearish. Most assumed that the Bitcoin price would fall below the magical USD 10,000 limit because the USD 11,000 limit could not be broken several times.
But the bullish news of the last few days have given Bitcoin an extreme tailwind and brought the BTC price sustainably above the USD 11,000 mark, for the time being. It was mainly about Square, the second listed company that is now invested in BItcoin.
Square’s SEO is none other than Jack Dorsey , CEO of Twitter. He has long been known to be a true Bitcoin advocate. So it was only a matter of time before one of its companies in BTC diversified its portfolio. Nevertheless, the news came as a surprise to many on Thursday and has built up enormous momentum.
In 2017 the Bitcoin price would have exploded
Admittedly, the market is no longer as susceptible to news as it was 3 years ago, but it still reacted immediately to the news with a Bitcoin price increase. But regardless of the current BTC price increase, the news is much more far-reaching than you might think at first glance.
The first listed companies are now invested in Bitcoin. This includes MicroStrategy with an investment of approx. 450 million USD and now Square with 50 million USD . If you think back 3 years at this point, then it was hardly imaginable and would have resulted in a price that would have been beyond good and evil.
Bitcoin as an emerging alternative
The Bitcoin price currently only shows the mood in the crypto market and the traditional market, but the long-term development is forgotten at this point. BTC has worked its way into an established financial product. More and more institutional investors are looking for a way out of the current uncertainties in the traditional market.
Each area appears to be in a bubble. There is high risk everywhere. So it’s no wonder that Bitcoin is becoming more and more interesting for investors. Many have started to realize what makes BTC so valuable – real digital scarcity.
If US politics continues and the market continues to be flooded with cheap credit, we will face a serious crisis. Above all, it will hit the US dollar and thus almost every other national currency as well.
BTC as the last resort
The subsequent inflation, i.e. the loss of purchasing power, will lead to a severe crisis, where millions of people will lose their jobs and the economy will come to a standstill for the time being. At such times, people take refuge in physical gold to save their money and property.
Bitcoin, as a digital gold substitute, could also get a piece of the pie. While BTC is still a long way from being gold, people are starting to understand that Bitcoin is unlike anything else we’ve seen before.
As trust in states and governments continues to decline, decentralized alternatives to preserve one’s values are becoming increasingly popular. It is only a matter of time before Bitcoin gets the recognition and trust it deserves.
Regardless of whether you are a private investor, hedge fund, family office or company: Not finding out about Bitcoin and cryptocurrency can be a mistake and a missed opportunity.
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Bitcoin price explosion – just a matter of time
Until then, we can continue to look forward to a highly volatile Bitcoin price, which is currently showing an upward trend and will hopefully soon exceed the USD 12,000 mark. If we can sustainably break the USD 13,800 mark this year, there will be no question about FOMO (Fear Of Missing Out).
In theory, this can cause the Bitcoin price to rise up to USD 20,000. At that point the decision will be made. This is because it is the previous all-time high. If this can be broken permanently, there will be no stopping it. All media portals worldwide will give reports and BTC back on the stage.
The one believed dead has returned, with much stronger fundamentals than in 2017. How far the rally will continue from this point cannot currently be said, but it will generate enormous momentum, which will lead us to new Bitcoin price highs.