Woke up this morning to $5200+ Bitcoin on Bittrex, which was a pleasant surprise. Despite all the FUD, from China, Jamie Dimon, Wall Street, and so on, Bitcoin has continued to plow through barriers.
It's currently 7:22 EST, as I'm writing this. We will see a lot of mainstream news whether it be CNBC, Fortune, Bloomberg, Wall Street Journal, probably even your local news stations talk about Bitcoin setting a new high at some point today. More people who have been sitting on the sidelines are going to jump in as they hear Bitcoin has set a new All Time High (ATH). CNBC already has an article out on it, so you know this will be a hot topic among finance today.
The Fear Of Missing Out (FOMO) will start getting real as more people watch crypto set new ATHs.
Don't be shocked to see Altcoins to follow in suit soon. The cryptocurrency market cap as of writing this is currently $162 billion. By the end of the weekend at this rate we will break through the former all time high of $178 billion.
We are on the way to a new ATH for the rest of cryptocurrency soon. With Ripple signing on it's 100th financial institution and having it's Swell conference in Toronto next week (Oct. 16-18), expect it to pump north of the $0.30 soon and possibly break it's former ATH of 0.40 (roughly, depended on the exchange).
Basic Attention Token (BAT) just launched Project Mercury recently, meaning users will be able to utilize the BAT token to earn money while using the Brave Browser. If you haven't heard of Brave, I highly suggest you try it out. It's a new browser and it's lighting fast; I even personally use it now since it runs much faster than chrome or other browsers.
Invest at your own risk, but most of the Alts should bottom out soon and follow Bitcoin as it continues to break new barriers. If they don't follow right away, after the Bitcoin Gold Hardfork on October 25th, expect people to sell BTC for alts as they get marked for holding 'x' amount of BTC so they will receive the equivalent amount in Bitcoin Gold. Also remember that coins are in different parts of their cycle, so keep that in mind too.
We're going to $200 billion market cap soon in the near future, get your popcorn.
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Disclaimer:
This author currently has a stake in Ripple.
This is not investment advice, always do your own research. It is very important to do your own analysis before making any investment based on your own personal circumstances.