Bitcoin is going wham bam bing and straight to the Moon, baby.
(This is not investment advice.)
The world’s most popular cryptocurrency, bitcoin, passed its key resistance level on Monday, jumping above $10,000 per coin for the first time since early June.
The digital currency was trading at $10,273.41 as of 12:30pm GMT, which is over three percent higher than 24 hours ago, according to Coindesk. It last crossed the $10,000 price level on June 3 and has since seen a steady decline. However, over the past seven days, the virtual currency surged nearly 11 percent.
According to Vijay Ayyar, head of business development at cryptocurrency exchange Luno, large players are debating whether to sell off their bitcoin to smaller entrants in the market, which could push the price lower and make it more attractive for bigger traders to buy more of the digital asset.
“This doesn’t seem to have happened,” Ayyar told CNBC. “What we have unfolding is potentially re-accumulation by big players, joined by smaller traders in an attempt to push BTC higher past 10K and more past 10.5K, which is the big resistance level, where BTC last put in a high.
“We still haven’t broken the 10.5K level, if that happens, BTC is probably running to 15K. All signs point to that at this point,” he said. Ayyar explained that bitcoin could benefit from stimulus measures taken by countries as well as hopes for a coronavirus vaccine.
No one knows what’s happening with bitcoin. I do not know and wouldn’t predict anything. But it does seem likely that it could be used as a safe haven as the dollar collapses as the federal government just keeps printing trillions upon trillions to keep people from noticing that the economy has collapsed.
I have written the ultimate beginner’s guide to bitcoin, which I highly recommend that you read and perform. Whether you want to put some money into it or not, you’re not going to regret knowing how to use it.
And of course, once you know how to use it you can send me some money. Just a little bit, man. $10. Okay, fine. $60. Sure, you drive a hard bargain, but just go ahead and send $900.
You read the site every day and if you don’t send me money IT’S STEALING.
No different than when the Chinese used digital microwave censors to steal our intellectual properties from their censor base in Houston.
No I mean seriously though, this isn’t just me shilling for donations, I do think you need to learn bitcoin because I legitimately do think it is going to be a big part of the future world we’re entering into, and you’re going to have peace of mind if you know how to use it and feel comfortable with it when shit starts to go southward.
And believe me, mate: there is no way things are going any direction but south. I wrote a thing recently about how some people apparently thought I was wrong about my prediction of economic collapse, and I was just like, “oh my sweet summer child.”
Here’s the deal, friend:
- The economy has already collapsed
- The government is printing trillions and trillions of dollars to make it not obvious the economy has collapsed
- If you keep printing money, the money eventually becomes valueless
- Either the government is going to have to stop printing money and let the pain be felt, or
- They’re going to create hyperinflation
There is no way anyone is getting out of this, so don’t let the fact it didn’t immediately collapse lull you. I’m loling at you if you’re saying, “ANGLIN YOU WERE WRONG.”
I never gave any dates. I was not wrong. There is no more economy. All of this is being propped up.
Imagine a Looney Tunes show where Wile E. Coyote runs off a cliff and is just standing there in the air for a few seconds before he looks down.
That’s where we are right now.