Bitcoin price broke $100, ladies and gents ! Bitcoin has just made it. It breached 100 USD a moment back and now the things are starting to be very interesting (not that it’s been a boring time up to now).
While breaking into two-digit price zone (again) a few months ago turned on the attention of more advanturous speculators and investors, the triple digit price is going to attract some serious heavy weight businessmen, who no longer trust in their state-bond portfolio. Hell, not even their bank deposits if they are not personally connected to some high-level bankster.
Of course bitcoin is not the only safe haven. There is always gold and silver. But. These people look also for an investment with the highest potential (profit-cost) and an asset that is moving upward. And bitcoin clearly wins in both categories. Yes, it is “riskier” or more “volatile”. That’s why the next level of investors will be closely watching and step in at a four-digit price.
So what will be the next price development? Good question, I really don’t know. Nobody knows. And never trust someone who claims he knows where the market is heading. But of course almost everyone has some bias or anticipation as regards to the price in the next days, weeks, months.
My bias is up. The longterm and shorterm. As I mentioned when breaking 30 and 50 USD/BTC, daily movements and gains are going to increase again. That means also potential sell offs could be bigger (in nominal terms), but every dip should be quickly bought out and trend up with higher highs resumed. I will put up some buying and selling points for this week later.
Wow. I started to write this piece at a few cents below 100 USD. 30 minutes later the price is at nearly 105. We are living in an extraordinary time, enjoy that!