Bitcoin is the most valuable cryptocurrency out there right now and – IMHO – it will continue to be as long as there is cryptocurrency.
The forecasted and canceled SegWit2x fork barely impacted Bitcoin. The price of Bitcoin Cash increased briefly and dropped dramatically. Bitcoin still reigns as King and is poised to go over the $8000 mark this month!
Today (3 pm EST), Bitcoin is at $7842.06. Exactly thirty days ago, it was at $5627.66. That is a $2214.40 increase in thirty days! Two months ago, Bitcoin was at $3567.06. A $4275.00 increase over a two month period!
Folks, we haven’t seen anything yet! I believe Bitcoin is going to approach the $10,000 mark by the end of the year and it may even surpass that mark. Why?
It is simple supply and demand. As many of you know, Bitcoin is capped at 21 million coins. No more will ever be created. Ever. This cap makes Bitcoin a scarce and valuable commodity.
Next month – in mid-December – the first ever Bitcoin futures is set to launch. This will signal a massive flood of money from hedge fund managers into cryptocurrency market who will be buying up Bitcoin, driving the price up.
Again, simple supply and demand. Bitcoin will be more in demand. The higher the demand, the higher the price Bitcoin will become. Remember, Bitcoin has a limited supply of 21 million coins.
Mid-December is going to be interesting indeed. If you have Bitcoin, hold on to it. You do not have Bitcoin, get some! If you cannot afford a full Bitcoin, buy a fraction of one.