Holding over $13,000.00 since around 8:00 a.m.
This morning. I holding out hope that we may finally be past the $13,000.00 barrier that Bitcoin BTC has been heavily flirting with lately. I am not saying that we are done dipping into $12,000.00 and below.
We still have to the possibility of crashing down to $3,000.00 or $6,000.00. I honestly don't want to see it dip below $9,000.00. I would have to abandon my previous prediction that Bitcoin will see a peak at $32,000.00.
What is driving Bitcoin BTC?
Bitcoin is comparable to the stock market in almost every aspect except it's not a stock. Bitcoin can see a major price drop based upon social sentiment. Right now Social Media is back Bitcoin.
Major companies are coming out in support of Bitcoin. Bitcoin ATM's are start to grow worldwide to over 10,000 Companies world wide are starting to except Bitcoin as a form of payment.
Which the way the market is going right now merchants and store owners as well as corporations would be excuse me for saying, stupid...to not accept crypto. Now in the defense of the companies large and small world wide that haven't adopted it yet. They could potentially lose a large amount if we see a major crash.
However with the current projections of Bitcoin we are not going to see a decline anytime soon despite the beliefs of very few. Bitcoin keeps gaining traction. Bitcoin has gained enough traction to lure major investment firms to put 100's of millions into Bitcoin.
What Could Spiral Bitcoin Prices?
Like I said, Bitcoin has gained a ton of momentum within the last 2 years alone. That momentum alone also gained the attention of legislators. Also the IRS. We all know uncle Sam always wants his portion of anything.
Now depending on the laws regarding Crypto Currencies in the United States it could be harmful towards the prices of Bitcoin for a short period of time. I think we will see a fair approach from Lawmakers.
Ethereum is also a threat to the well being of Bitcoin. However Bitcoin will forever be the safe harbor fund in my humble opinion and will always continue to grow in value.
Will Bitcoin Have Another Fork?
Yes, we will probably not ever come to point in the next 100 years where we won't see forks break away. That is after all how we came out with BCH Bitcoin Cash and other great thriving crypto currencies.
Forks in my opinion are a great thing for crypto currencies. Yearn.Finance reached a peak of $43,863.00 and is right now at $15,000.00 and Bitcoin in 2nd place at $13,130.00
My Final Thoughts!
Bitcoin is still holding just above $13,090.00 right at the time of writing this article. I think everything will keep going in Bitcoins favor. I am positive that we will see the price of Bitcoin drop below $13,000.00 again with a max low of $9,000.00 I don't want to see it drop lower than that.
I know after the drop Bitcoin will easily raise back up towards $13,000.00 after bouncing around like Bitcoin loves to do so much. I am still anticipating a peak to be coming in the near future.
Thanks for reading. Please feel free to comment and tell us how you feel about Bitcoin and Crypto in general and what you think about my predictions?
God Bless and Stay Healthy!
I don't it get any more higher. People are selling their funds in case any breakdown will occur.