We're riding an incredible wave ladies and gentlemen! As I sit here and write this, Bitcoin's sitting at about $3134 USD having just peaked at $3172 USD!
This is YUGE!
As per usual, we had to endure a month and a half of mainstream media claiming Bitcoin was done. Of course the most basic market principles are not taken into account as the establishment prays for an end to Bitcoin, but Bitcoin isn't going anywhere! Climbing from $2765 USD to a stunning $3172, we're climbing a mountain! Where it will go in the immediate future is something I simply can't predict, but there's no doubt that a lot of people are clinking glasses tonight!
The healthy correction we witnessed over the past month in a half has triggered a rally. It won't be the last major correction, but this certainly won't be the last major rally!
Bitcoin Cash has slammed to the floor, losing 32.4% in the past 24 hours, leaving it at $250 USD. Now I'm not going to make any rash decision on BCH yet as it's too early to really tell, but people seem to be sticking to classic Bitcoin.
Most of the alt-coins have seen a decent rise today, but for the most part, nothing to write home about. That's not to bash them, but Bitcoin continues to prove to those in the crypto world that it's the king!
I also believe this Bitcoin rally is going to bring the value of STEEM up significantly over the next month as it sits at about $1.31 USD at this moment.
As I've noted previously, at the 7 year average daily rate of growth, Bitcoin can realistically hit 250k by 2020. It also may not, but following the exact average we see today, it's quite possible indeed!
