Is this Bitcoin rally a real one? After more than a year Bitcoin is on run again. Will it move ahead of $10,000, $100,000 or even million?
There are many positive things happening for Crypto currency. There are rumors that Fidelity is going to enter in the crypto market. Fidelity is one of the large brokerage firm in the world. Bitcoin pundits are saying Bitcoin will touch million dollar in next 10 to 15 years. The positive trajectory indicates it is on its way to million dollars in next 10 plus year. Though investors lost faith after Bitcoin dropped from $19000 plus to $3000+ in last year and half. Many investors moved out of their position after booking loss. It is hard for these investors to come back, specially small investors. My opinion is to invest in Bitcoin for long term. There is loss on investment only if someone sales. If you are planning to hold it doesn't matter. Also always invest what you are ready to lose. These are very aggressive investment. Hundreds of currencies have failed. It is like survivor of the fittest.
Microsoft have started accepting bitcoin for their Xbox. Overstock is one of the first supporter of Bitcoin. Newegg, Shopify, Cheapair and now AT&T is starting to accept Bitcoin. This a major change in the industry. Investors confidence is coming back and so is the rally in Bitcoin. On Dec 14th, 2018, Bitcoin was $3232 and in 6 month it is now almost $9000. That's an amazing rally.
Will the rally continue? or will it fall back again? Will there be more supporters for Bitcoin? Can I use Bitcoin for my everyday expense? Will it replace fiat currency? Again Bitcoin is not only one currency, all crypto currencies are on rise. But the gold of all currencies is bitcoin. We do have Ethereum, litecoin, Ripple and many more alt coins. But the driver is Bitcoin. What is your 2 cents?