Bitcoin and Cryptocurrencies Rocket To New All-Time Highs as Peter Thiel Warns Not To Underestimate Bitcoin
Cryptocurrencies as a sector surpassed their all-time high hitting a high of $180.6 billion.
Cryptos across the board were all heavily in the green.
Bitcoin itself also hit a new all-time high of $6,156.72.
Bitcoin Cash has also been moving much higher, currently $440, up nearly 50% since October 10th.
What is perhaps most interesting is that for weeks we have seen the cryptos go down markedly as bitcoin rose and when bitcoin fell, the other cryptocurrencies would rise.
Today they all moved higher in unison meaning that large amounts of new money are pouring into the entire sector.
Even, EOS, which had been languishing under $0.50 just a week ago rose 28% to $0.70.
The Enron like “fraud” and “joke” that is bitcoin, according to the Prince of Saudi Arabia and the CEO of Mastercard appears undeterred by the attacks. And the rest of the cryptocurrency space also continues to not care.
This week, Peter Thiel, the billionaire founder of Paypal and early investor into Facebook, stated that bitcoin is one of the most interesting investment opportunities in the world today.
In the interview, Maria Bartiromo went off script and asked what bitcoin was based on and then stammered as she said, “You see that the dollar is based on, you know, the… the… trust in the Treasury and trust in the US government!”
Really, is that what the dollar is based on? Trust in the US Treasury which has no treasury because it is constantly going deeper and deeper into debt… and trust in the bankrupt US government?
If so, no wonder bitcoin is going up!
We’ll be releasing the next issue of the TDV newsletter (subscribe HERE) by the end of the month where we’ll cover what is happening in much more detail.
And make sure to register soon for Anarchapulco/Cryptopulco and the TDV Investment Summit from February 15-18th. Every cryptocurrency conference I have gone to in the last two months has been a complete sellout and had to turn people away at the door. We are expecting the same this coming February so make sure you register at Anarchapulco.com soon!
A lot of fiat wealth is going to be flowing into cryptos over the next few years. Why? Because every other market is already in "crazy bubble" territory and nobody wants to funnel more cash into dying companies and bankrupt governments.
all the press is about the price, which is largely irrelevant. I would like to see more detail on the utility and adoption of block chain technology, especially in the main stream media. Until then we will always hear cries of ‘bubble’ and ‘fraud’. That will start to really drive adoption and hence price. Price fluctuations alone do not drive adoption.
I wrote a bit not in support of the price, but as a reaction and a quick and dirty analysis comparing bitcoin to various bubbles that people keep referring to. I've got some ideas on the works for increasing the utility of bitcoin, but it aint easy! People have already created the means for it to be as good as credit card, but it doenst change the fact that the price just isnt stable enough right now.
https://steemit.com/bitcoin/@motoengineer/do-you-actually-believe-bitcoin-is-a-bubble-10-30-2017
I agree its still too volatile but to stabilise it will need to reach considerably higher prices I believe. Its too easy for whales to move prices at present and it responds too readily to news. Most fiat currencies move by less than 1% per day. btc can drop by 20% or more in a day. Exciting but not much use when as a currency or even short term store of value. But its still very early days. I believe it will come.
That is my point exactly. USD hardly ever moves 1% in a day, that would be traumatic since people leverage 10 or even 50x sometimes. The lack of movement is why people have such large leverages to earn money on a few pips. Translate that to crypto, it would take a massive amount of money to prevent that level of daily movement. Good eye! I think most people understand how stocks work but not the forex market, which is what systems like BTC really mimic.
Peter Thiel has a good track record. When he suggests there is a lot of value in some "new and unknown" technology, you would be wise to listen
Seriously considering accepting only cryptocurrencies for my software business and not accepting USD anymore.
All The Way UP Bitcoin, Straight to the Moon !!!
What do Bitcoin and I have in common? The higher the better.
LOL
Bitcoin was at ~$4300 at the 1st of October and now it is pushing past $6000! What a time to see the return on your investment. Thanks for all of your inspiration and investment advice and for covering Bitcoin news daily.
great post @dollarvigilante
Bitcoin will go past a million and I know that for a fact. I even had a thought of it being worth Trillions of dollars after I heard well know guys in the space say that it has the potential to reach billions.
Nice analysis I think Bitcoin will hit $ 10, 000 very soon...