It was a good day to be in cryptocurrency today. Bitcoin took off this morning, for reasons that are not altogehter clear and it brought it’s hundred closest friends and nearly every other coin or token with it. My personal opinion is that the disgusting and shameful performance of the U.S. President in Europe with former U.S. allies and strongman Vladmir Putin shook the faith of big institutions in the USD and traditional currency markets. There could be a lot of other reasons – but essentially, money is moving to Bitcoin and crypto (as predicted) with loss of faith in the U.S. as a stable democracy promoting the interests of the ‘free’ world.
The long and short of it is that starting at about 8 am, BTC jumped from $6700 to $7300 and the movement upwards has not stopped – as I write, getting closer to $7500 – a jump of nearly 11% in less than 12 hours. Which is awesome. A post on Twitter earlier from Charlie Lee (founder of Litecoin) gave an interesting statistic along with Charlie’s recommendation that if you don’t own at least one bitcoin, you need to make that your focus – even before owning Litecoin. Charlie’s reasoning was thus – there will only ever be 21 million bitcoins – not enough for even each millionaire to own. Credit Suisse projects that there will be at least 53 million millionaires on the planet by 2019. Less than half of them can ever own a whole bitcoin. Bitcoin is not going to go away. I’m certain of that. The entire financial establishment is certain of that. John McAfee, the founder of McAfee anti-virus and notorious crypto bull has famously said that if a single bitcoin isn’t worth $1 million by 2020 that he will ‘eat his own dick on TV’. While I feel just as confident in the future of Bitcoin, I’m not willing to be quite that specific.
I do, however, think that the floodgates have opened and big money is already pouring in at rates that have never been seen. There will be some up and down – but mostly up for quite some time. My suggestion is that you do your own research and that you get into crypto right now.
If you want to buy or sell cryptocurrency you will need a couple of accounts:
Binance: https://www.binance.com/?ref=13319173 (I get a little bit from your transaction fees if you use this link – thanks) Coinbase: https://www.coinbase.com/join/52d742c6c60a61f2a6000033 (Use this link and we both get $10 in BTC)
If you are interested in my suggestions and are willing to do your own research and be responsible for your own buying decisions – here is what I recommend. Buy as much of a bitcoin as you can as soon as you can. In addition, I think that Ethereum, Litecoin, and Digibyte are all solid projects with long blockchains and proven records. They are not going away. Stellar, Cardano, Neo, 0x, Tron, Basic Attention Token, and Ethereum Classic are all projects that I expect will go up in the short term and the long term. If you want to get in on a couple of early projects that are still cheap and relatively unknown Docademic, Bitcoin Private, Bezop, and NoBS Crypto are all worth looking into – but as always – do your own research. For right now- my highest recommendation is to get as much Bitcoin as you can afford.