Congratulations to all bitcoiners and advocates for decentralized systems!
It's official! Bitcoin is now worth more than $100k. Not too long ago this was considered something unthinkable and wishful thinking. For years bitcoiners kept predicting this moment would come soon and it has arrived. Is this the moon or is this journey just getting started. In November it became very obvious that $100k was within a reach. We came very close, but still couldn't make it to the desired destination. Many have said $100k is the psychological barrier but also many knew it was inevitable to happen before the end of the year. I was convinced that would get here before the next year arrived. November did the most of the prep work, and December had to finalize it. We are not even in mid December. The month just started, and started strong for bitcoin. Now that $100k price point is broken, next mission is to finish the year with another all time high, significant one.
This day is definitely going into history as a major achievement for bitcoin and a huge win for decentralized systems. Going forward almost all talks will probably involved a new price target of a million. It seems so far a way, it seems impossible. Just like we thought about bitcoin a few years ago if it would ever reach $100k. It is a fact now. Not too long ago bitcoin was at $10k price ranges. Just looking at its historic performance it is not too crazy to think that it will reach $1 million price point in near future. This too is in the roadmap of this journey.
Earlier today when I was looking at the prices before $100k happened and looking at different timeframes, I saw one of my indicators which I call a triangle triggered a bullish signal on an hourly chart. That is when I knew it was the time. It was going to happen today and it did. Amazing!
Now what? Well, it doesn't matter what comes next. Maybe we will see a massive correction, maybe we will see a massive fomo, or maybe we will see some cool down time. The mission has been accomplished. Now we can say with certainty that bitcoin is worth $100k regardless what the charts will show tomorrow. Because this asset always managed to break it previous all time high prices and create the new ones. Today everybody who invested in bitcoin are winners regardless the prices when they bought. This may not be the case tomorrow, days, and weeks ahead. There will those who will be in a negative at some point. But they too will be in a positive given enough time to hodl.
There are many reasons we can attribute to this success. Pro-bitcoin president winning the elections in the US. Pro-bitcoin Congress winning the elections in the US. Michael Saylors new Bitcoin Treasure Company strategy for MicroStrategy and the company buying massive amounts of bitcoins in November alone. Success of bitcoin spot ETFs, institutional investments. Potential for governments getting involved in bitcoin in the coming years. There are many reasons that we can talk about. However, this was going to happen regardless. This price point for bitcoin was marked long before all the reasons mentioned above were even a thing. But also reasons were the same without mentioning the actual players who participated. We knew there would be interest by people, companies, and governments at different periods of this journey. It is interesting how everything has worked out almost as it has been written in a script in advance.
For those of us who are also interested and invested in alt coins and other decentralized systems, bitcoin achieving $100k paves the path for other crypto solutions as well. We already saw few altcoins making significant gains. However, we haven't seen an alt season yet. Now that bitcoin did what it was meant to do, hopefully soon we will see more interesting price actions in alts as well. It is about time for Hive to shine and regain its billion dollar network status. There is more good news to see in crypto and decentralized systems towards the end of this year and into the new year.
Today, we should celebrate! Well done bitcoin!