Bitcoin has been going ballistic and the rate of increase is going up exponentially. In other words, if you timed the $1000 price increases they began very slowly......last night Bitcoin's price shot up $2000 in less than two hours. Fell back a bit and appears to have settled in comfortably around
$15,433
Sadly, if you failed to take a position when I suggested it you may have been priced out of the market. Or, you could buy one or more bitcoin @ today's price and trust that the market won't implode a day or two later.
If you are curious, here is what I believe is going on. Don't take my word for it bcuz nobody knows WTF is going on.
The big boys want to get into the Bitcoin game. As per usual, they are way behind the 8-ball and frankly, the idiot-asshole derivative makers are trying to put the volatile Bitcoin into futures and derivative marketplaces. LOL, they don't understand that they cannot manipulate it with phony orders but no delivery (like they now do with silver and gold).
In fact, much of this price increase is because two ETF or exchange traded funds are about to introduce the asset class of cryptocurrency represented by Bitcoin. One comes out December 10th and the other will hit the market December 17th.
A ton of institutional money that has been legally prevented from playing in the Bitcoin space will now be able to dump billions of dollars into Bitcoin trades. Voila! Bitcoin rising faster than a Saturn rocket launch.
The thing to keep in mind is that these I-A-D makers don't understand the blockchain or even have a grasp of the concept of limiting the volume of money on the market. The Central Banks went off the rails around 1913 (est. the Federal Reserve Bank) which is not part of the Federal government, is privately owned and NOT even a bank. Essentially, the FED and Central Banking is the brainchild of Rothschild mafia and other dynastic criminal families.
The FED is essentially a huge counterfeiting operation and Ponzi scheme sanctioned by the U.S. government so that the government can borrow trillions of dollars to conduct the war business. Yes, it really is that simple.
One of the most accurate and intelligent quotes ever spoken by Thomas Jefferson who experienced the continental currency’s collapse first-hand was:
“If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks…will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered…The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.”
So, we are at the stage today in which those people with an iota of intelligence have realized they've been conned. They are dumping worthless fiat dollars and replacing them with Bitcoin and other cryptocurrencies on the blockchain. Why? because it is decentralized and hard-coded to limit the ultimate supply of the tokens. There never will be nor can be any more Bitcoin in circulation than 21 million units. Duh, ya think if you own some and all of a sudden the rest of the people in the market decide they have to own it - that the price might go up?
Now, imagine billions of dollars of funny money waltzing around playing musical chairs. Last investor standing will be left holding the bag of worthless fiat money.....while the rest of the world has grabbed a chair loaded with Bitcoin. Yes, that will be an awesome MAD SCRAMBLE TO OWN BITCOIN.
I expect that the I-A-D makers will attempt a massive DUMP of Bitcoin at a pre-ordained price. They will dump their Bitcoin in an attempt to spook the herd of cryptoinvestors. Weak hands will respond to FUD (Fear-Uncertainty and Doubt) broadcast over mainstream media by idiots like Bernhard Bernanke, Jamie Demon and an assortment of PhD Keynesian economists with Nobel Peace Prizes. Obama himself, was really pissed off at cryptocurrencies like Bitcoin because he said it is like allowing everyone to have their own private Swiss Bank in their pocket. As if that is a bad thing! LOL!
But, here's the thing; these guys have so little understanding of the true nature of money and of government that they believe their own shit...heck, they dine on it!
So, when they pull the plug on Bitcoin by dumping their holdings to try and blow the "Bitcoin bubble they are fond of speaking about" few people will sell. And, anyone with an IOTA of common sense will buy more Bitcoin at any lower prices until...WAIT FOR IT...I PREDICT THAT
THE VALUE OF BITCOIN WILL HIT $50,000 - $100,000 IN 2018 and then rocket up to a million dollars of worthless fiat currency per coin afterwards.
Remember, in Venezuela, you can't buy a roll of toilet paper with a wheelbarrow full of pesos or whatever their worthless fiat currency is now called. That is the true ugliness of Socialism and Authoritarian government control over every industry and every person. It has happened in Zimbabwe, post WW1 Germany, USSR, Argentina and everywhere citizens permit socialist governments to rule them, print unlimited currency and take over private property.
It is not Bitcoin that is going up - it stays the same except for a huge increase in demand as the public wakes up. The price is driven by the imminent collapse of the dollar/debt based fiat monetary system. The dollar is down by 93% since 1913 and the rate of devaluing has been rising exponentially with Quantitative Easing, zero interest rates and an endless stream of PhP Keynesian malarky.
As for me, I'm holding pat. If Bitcoin reaches a million dollars per coin and if that million dollars will still buy real property by the time that happens...that's when I'll swap coin for hard assets like a vineyard, Teak plantation or estate with all the above. D.
P.S. I predict that at some point nobody will exchange Bitcoin for any fiat currency in any amount. When we reach that stage the fake money/debt system will be well and truly dead and gone as will the I-A-D makers; at least, let's hope
.