Posted on 07/27/2020 3:52:25 PM PDT by JHL
Bitcoin prices were taking flight on Monday, pushing the digital currency to the highest level in about two months and ending the long dormancy of the world’s No. 1 virtual asset.
Bitcoin, the largest and most influential cryptocurrency, shot past the key $10,000 resistance marker—all eyes are now on the critical $10,500 level,” wrote Nigel Green, chief executive and founder of deVere Group, a financial firm, advising some $12 billion.
Bitcoin’s BTCUSD, 3.73% recent rally to $10,237 took it to around its highest level since June 1 based on spot prices.
Bitcoin futures BTC.1, 3.81% trading on CME Group were at $10,335, the highest since June 2, according to FactSet.
The move for the digital currency comes as gold prices have surged, amid a rush for assets that considered alternatives to cash and stocks fueled by the COVID-19 pandemic that has driven much of the developed world into a deep recession.
Gold prices rallied to an intraday peak at $1.941.90, up more than 2%, and taking out an intraday record for the most-active intraday at $1,923.70 an ounce that had stood since an ounce from Sept. 6, 2011.
(Excerpt) Read more at marketwatch.com ...
It could be back to $5000 just as easily.
Very true. It rose to 20,000 in 2017 before falling back to around 3,000. Highly speculative market for sure.
experts say................................
The South Sea Bubble circa 2020.
The easiest way to make a small fortune in Bitcoin is to start with a large one.
I remember when it was about that high. There was a radio commercial that played a few times that claim Bitcoin could go as high as $1 million. A few weeks later, it crashed hard. I have not heard a single Bitcoin investment ad since. Same type of huckers said gold would be worth over $5000 per oz by the end of the year. That was several years ago and it didn’t reach the mark either. I am sure some bought in though.
How much will it be worth when the internet goes down?
IIRC tulip bulbs were all the rage in Europe about 500 years ago...
Bitcoin is vapor money.Based on nothing of value.
There have to be a lot of suckers out there.Why not just go to the casino and gamble there.Your still throwing your money away.
“Bitcoin surges over $10,000, could surpass $15,000, digital-currency experts say”
right ... and then it will plummet back to $5,000 just as quickly ...
might as well be speculating in tulip bulbs or sardines, except those have more intrinsic value than bitcoin ...
“The easiest way to make a small fortune in Bitcoin is to start with a large one. “
like the tale about how airline pilots invest: they keep investing until there’s nothing left ...
Wish I had bought when it was 4 for a penny.
About the same as when investors realize Bitcoin is based on vapor. It will be worth zero. There is only a price, there is no real tangible value.
The money you make isn’t tangible either.
But the stuff I buy with it is.
Gold will be on a steady increase, you can bet on it when running a savings account costs money while having the money in gold actual rakes in more solid value.
Gold is becoming again a competitive virtual currency.
Personally....I think stocks are WAY better.
Please stop actimg like leftist and repeating what you here, investigate your self. Learn about staking and how blockchain works it is the future.
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