Hey guys, been a while since I’ve made one of my bitcoin #BTC videos. bitcoin had been flirting with $800 for a few days, but in the last 24 hours bitcoin has surged past $800 and is now as I post this video sitting at $816.
Now I was a little hesitant to buy in at this high of a price but it seems to me bitcoin is going to continue to rise. I think we may shoot up to $850 or $860 and then see a minor pullback but I think the new resistance level for bitcoin is going to settle at around $820 or $830. It seems to just continue to rise.
I recently had kind of a shift in my thinking about bitcoin as well. In the past I thought mass adoption of bitcoin was necessary for growth and for a high price, however today I don’t see it as really mattering.
I don’t really need bitcoin to order my Dunkin Donuts in the morning or place an order on Amazon. bitcoin does however have many other and many more valuable uses such as a safe longterm storage of value, a way to stave off inflation or a falling currency, as well as a cheap transfer of larger funds which no bank or government can have central control over.
I have a supplier who doesn’t have a merchant account and cannot get a Paypal account. I was using Western Union to pay him, however Western Union recently cut me off saying I sent too much money. bitcoin is a perfect alternative, no fees and nobody can tell me where when or how much money I can send to someone.
My future predition of bitcoin. I’m not going to call anything by the end of the year as it’s only a couple days away. I will however say I think by February of 2017 were going to see a bitcoin price possibly flirting with $1000. I think were going to for sure find a new trading average around $830 to $850.
Where do you think bitcoin is going in the next 30, 60, 90 days? Where will bitcoin be at the end of 2017? What new developments about bitcoin did I fail to mention in this video? Drop a comment in the comments section below…
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