Earlier today, Bitcoin Spiked to a New Record High of Over $61K. Months ago, I said $70k would be here by the Summer. Looks as if it might just come earlier than that.
- In a move starting just after 10:00 a.m. UTC Saturday, the top cryptocurrency by market cap crossed $60,000 for the first time and hours later crossed $61,000 to set a new all-time high of $61,124.86 – up 7.47% in the last 24 hours.
- “Institutional investment continues to build momentum with Chinese internet firm Meitu the latest to execute a Bitcoin treasury strategy, ” according to Jehan Chu, co-founder and managing partner of Kenetic, a Hong Kong-based trading firm.
- The move passed the previous all-time record of around $58,330 set on Feb. 21. Since then bitcoin had seen a retreat to as low as $43,000, amid uncertainty in the traditional markets over stimulus expectations and their positive affects on U.S. bond yields. Both stocks and cryptocurrencies across the board saw losses and sideways trading in the last several weeks, before rising again in the last 8 days.
- Bitcoin’s quick rise caused the liquidation of over $100 million in short positions in a matter of minutes. The move to $61,000 brought bitcoin’s market cap to $1.14 trillion – just below the $1.385 trillion value of Google.
It’s NOT gonna stop folks. Sure we’ll get dips and extreme gyrations in price, but the overall trend is HIGHER. Much Higher.
Buy those dips when we get them. Hold with Iron Balls and keep buying. You CANNOT be in the dollar. I repeat, you CANNOT be in the US Dollar.
This is all part of the plan folks. Get the fuck out of these Big Banks too. Use them for Bill paying if you must, but they’re now reserved to the same fate of the dinosaur.
And finally… keep your eye on the Alt-Coins… especially Ethereum, which you should all be in already. I think we’ll see absolute fireworks 💥 there very soon!