Monday, May 20, 2019 10:17:45 AM
The surge in Bitcoin (BTC) is fully underway. The move higher was a no brainer and I capitalized on it. My overall average is below $4,000 (though I did sell half of my crypto positions just on this latest surge). The one surprise for me was how easily it broke through the $6,000 resistance level. The $6,000 level now becomes support with Bitcoin trading near $8,000. The upside target near-term is now $10,000 and likely will be hit by year end, if not sooner. My thesis for why Bitcoin and other crypto-currencies are the future is strengthening by the day. Surging U.S. and global debt levels are unsustainable. The fact that central banks can print trillions-of-Dollars on a whim is and will erode the confidence people have in them. This will lead the world to a crypto-based monetary system, with caps on the amount that can be mined or the cost of mining will grow, slowing the amount of coins that are mined, much like it does for mining gold. I have long said, crypto is what our kids will be using as currency in 10-20 yrs. As a trader, I will be in and out of it quite often now, as it continues higher. However, I do believe in the long-term viability and future of the top coins.
Gareth Soloway
InTheMoneyStocks
Recent BTCUSD News
- Google blames users for wildly inaccurate ‘AI Overview’ outputs • Cointelegraph • 05/25/2024 04:34:22 PM
- Bitcoin Spot ETF Records Consecutive Weeks Of Inflows As Investor Confidence Grows • NEWSBTC • 05/25/2024 03:50:40 PM
- Whales Scoop Up 20,000 BTC In 24-Hour Buying Spree Amid Bitcoin Price Drop • ZyCrypto • 05/25/2024 03:27:09 PM
- Why is XRP price up today? • Cointelegraph • 05/25/2024 01:45:48 PM
- Bitcoin Propped For Major Breakout By September, Analyst Explains Why • NEWSBTC • 05/25/2024 11:50:44 AM
- Bitcoin Is Currently out of the ‘Danger Zone,’ According to Crypto Analyst – But There’s a Catch • The Daily Hodl • 05/25/2024 11:45:53 AM
- Bitcoin white paper returns to Bitcoin.org website • Cointelegraph • 05/25/2024 10:39:56 AM
- Don't jump to conclusions about ETH 'pullbacks' — Traders • Cointelegraph • 05/25/2024 08:38:58 AM
- US ETH ETF approval pressures Korean regulators • Cointelegraph • 05/25/2024 08:05:44 AM
- Mollars Token Is A Special Coin, Presale Explodes Past $1.4-Million • ZyCrypto • 05/25/2024 08:03:28 AM
- ‘I Feel Super Confident About That’: Jack Mallers Says Bitcoin To Explode by up to 1,357% – Here’s the Timeline • The Daily Hodl • 05/25/2024 07:04:14 AM
- Ethereum lacks a 'simple one-liner' elevator pitch for boomers — Analysts • Cointelegraph • 05/25/2024 05:09:48 AM
- Lido (LDO) Takes The Lead With 13% Surge Post Ethereum ETF Approval – Key Levels To Watch • NEWSBTC • 05/25/2024 02:30:31 AM
- Nvidia faces 'near zero chance' of beating Bitcoin this decade again — Crypto execs • Cointelegraph • 05/25/2024 01:37:02 AM
- Bitcoin Price Enters Make Or Break Zone: Analyst Reveals Important Levels To Watch • NEWSBTC • 05/25/2024 01:00:02 AM
- Bitcoin Bulls Gain Breathing Room As Long-Term Holder Activity Eases – Glassnode • NEWSBTC • 05/25/2024 12:00:56 AM
- Blockchain Gaming Altcoin Axie Infinity Flashing Signs of Potential 194% Surge, Says Crypto Trader – Here’s Why • The Daily Hodl • 05/25/2024 12:00:11 AM
- How to train an AI bot to day-trade crypto • Cointelegraph • 05/24/2024 11:05:00 PM
- Post-Ethereum ETF Analysis: ETH Price Seeks Bottom As Bulls Eye $5,000 Target • NEWSBTC • 05/24/2024 11:00:10 PM
- Marathon Digital enters renewable energy partnership with Kenyan gov’t • Cointelegraph • 05/24/2024 10:14:40 PM
- Spot Bitcoin ETFs Rake In Nine Consecutive Days of Inflows Totaling Over $1,750,000,000 • The Daily Hodl • 05/24/2024 10:01:18 PM
- Bitcoin Whales Buy Up $1.4 Billion Worth Of BTC Amid Heightened Volatility • NEWSBTC • 05/24/2024 10:00:59 PM
- Chainlink price hits 6-week high, is $20 LINK the next stop? • Cointelegraph • 05/24/2024 09:50:00 PM
- Did MicroStrategy Mess Up By Choosing Bitcoin Over Ethereum? Analyst Weighs In • NEWSBTC • 05/24/2024 09:30:57 PM
- Crypto Biz: Kraken denies USDT delisting, crypto custody on the rise, and more • Cointelegraph • 05/24/2024 09:30:00 PM
Avant Technologies Engages Wired4Tech to Evaluate the Performance of Next Generation AI Server Technology • AVAI • May 23, 2024 8:00 AM
Branded Legacy, Inc. Unveils Collaboration with Celebrity Tattoo Artist Kat Tat for New Tattoo Aftercare Product • BLEG • May 22, 2024 8:30 AM
"Defo's Morning Briefing" Set to Debut for "GreenliteTV" • GRNL • May 21, 2024 2:28 PM
North Bay Resources Announces 50/50 JV at Fran Gold Project, British Columbia; Initiates NI 43-101 Resources Estimate and Bulk Sample • NBRI • May 21, 2024 9:07 AM
Greenlite Ventures Inks Deal to Acquire No Limit Technology • GRNL • May 17, 2024 3:00 PM
Music Licensing, Inc. (OTC: SONG) Subsidiary Pro Music Rights Secures Final Judgment of $114,081.30 USD, Demonstrating Strength of Licensing Agreements • SONGD • May 17, 2024 11:00 AM