Thursday, May 18, 2017
BITCOIN RIPS INTO DIZZYING HEIGHTS. SPECULATIVE FEVER IS ON
After hitting a low on January 15, 2015, Bitcoin speculators have been on a tear. As you can see, Bitcoin now trades in dizzying heights, both in U.S. dollars and in True Dollars™ from its low of T$16.26.
In True Dollars, Bitcoin is up 57.38% in the last one quarter, 112.75% over the last six months and 214.34% over the last year!
While another Bitcoin crash could happen, as evermore of the world connect to the Internet, the number of nefarious ones in need of the means to sell heroin, evade taxes, pay for murders-for-hire and the like will increase.
Any pull back of at least 50% could make Bitcoin an attractive buy. The United States and European countries have yet to pull out of economic great depressions (see: Q1 2017 GDP IN TRUE DOLLARS™ SHOWS THE GREATEST DEPRESSION IS STILL ON. THE OBAMA PRESIDENCY WAS AMONG THE WORST, PERHAPS ALL-TIME). However, sooner rather than later, the advance in the U.S. economy should begin.
That means more discretionary income will fill the pockets of Americans and for some, they shall have the means to buy drugs. Bitcoin holders will be the beneficiaries of a rising economy.
You can always see the latest Bitcoin charts from the commodities menu.