17 Days ago the Bitcoin to US Dollar chart indicated the Golden Cross Signal. This signal is a huge indication that the Bulls are in control.
Fast forward to today and Bitcoin went from around $5400 USD to nearly $8200! So the charts are giving signals but what others things are driving this market? Well there is no way to know for certain but I believe the below news articles are helping drive the price.
Image by Cointelegraph
News:
- This article talks about a payment solution that lets users download an app that lets them pay for good at all of the above stores in Bitcoin or a few other Cryptos. https://www.altcoinbuzz.io/crypto-news/finance-and-funding/whole-foods-office-depot-baskin-robbins-and-12-other-retail-giants-now-accept-bitcoin/.
- Bitcoin is back in the Mainstream Media, Forbes, Bloomberg and ABC all talking about Bitcoin once again. It is funny how not long again they were all talking about it like it was over, now they are all over it again. https://www.forbes.com/sites/cbovaird/2019/05/13/bitcoin-prices-surge-above-8000-as-momentum-drives-gains/#66e112f518de.
- Many articles are saying that if Bitcoin breaches the $10,000.00 mark that the fear of missing out (FOMO) will drive the price to the moon. This time people are calling for anything from $35,000.00 to $55,000.00 by the end of 2019.
Thoughts:
If you have been following this blog for a while you know that we over here truly believe that the Mainstream Media (MSM), is being manipulated to help manipulate the price of Bitcoin. We blame the MSM for the surge to $20,000 as well as the plummet the followed. If you can scare people into selling you can drive the price down, if you can excite people you can drive the price up. If you can control the direction of the price movement, you can make a lot of money. I believe that the price is being manipulated by the global MSM, and if my theory is correct, the price is about to surge. Think about it, nothing has changed with Bitcoin, it is still the same with some minor improvements, there has been nothing to really call for these huge price swings like the price swings in stocks when a company releases a new product or has incredible earnings reports. All of the price movement has been due to articles that ether make it seam like Bitcoin is garbage and worthless, or articles that compare it to gold. Right now the articles are painting Bitcoin as the greatest thing since sliced bread, plus there is now more good news. One of Bitcoins biggest criticisms are that you can't spend it, (as if you can spend stocks or gold), go ahead go to the mall an see if you can buy sneakers with shares of Disney or pieces of gold. Now while Bitcoin has already had several options that allow you to spend it in a store (TenX Pay, BitPay, Shift, Etc), there is now an app that will allow you to spend it without a card at many Major retailers. Adoption is just about the most important thing for Bitcoin aside from increasing the transactions per second which is its biggest hurdle (that lightning network is aiming to improve). All of this being said I believe Bitcoin is about to Moon.
Calls:
- I know I called Matrix and it has done nothing but plummet but I am personally buying more at these prices, DCAing. I bought ADA Cardano first when it was $0.07 cents, it dropped to $0.03 and I bought way more, and held it until it hit about $1.67 before dumping it. I believe Matrix will bit $14.00 this year so I am DCAing.
- BTT and TRX. Tron is releasing their second layer solution BTT which will increase their scale-ability and lower energy costs dramatically.
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I believe the time for Crypto to bounce back is now, and we will see great times ahead.
I am not a financial adviser, this is not financial advice, invest at your own risk.