Bitcoin Price Breaks 50,000, Bitcoiners Brace For New All Time Highs

2021-8-24 22:08

Around midnight on Sunday the Bitcoin price broke $50,000, the highest price seen since Bitcoin’s correction in May.

Around midnight on Sunday the Bitcoin price broke $50,000, the highest price seen since Bitcoin’s correction in May. After the dip, the Bitcoin price hovered between 30-40k for most of the summer.

Although it’s impossible to say for certain, many are projecting the price to significantly appreciate from here to close out the year. Recall that just one year ago today, the Bitcoin price was sitting at around $11,650.

In 2017 the Bitcoin price went from about $10,000 to $20,000 in eighteen days, achieving a blow off top all time high. On Monday investor Anthony Pompliano said on CNBC, “It would not surprise me to see something crazy like that happen before the end of the year.”

Here is a review of the increasingly bullish news from the past month that led to this exciting price milestone:

Your $1,200 stimulus check would be worth around $8,765 today if you’d bought Bitcoin with it in April 2020.On Thursday it was uncovered that back in June, Blackrock, the world’s largest asset manager, allocated over $382 million to shares of Marathon Digital Holdings & Riot Blockchain, becoming the second biggest investor in both. Coinbase announced Thursday it has updated its investment policy to include a 10% quarterly income allocation in Bitcoin and other cryptocurrency and also committed to investing $500 million of its $4 billion in reserves into Bitcoin and crypto.Banking giants Wells Fargo and JPMorgan both filed for passive Bitcoin funds for their wealthy clients.A small Texas biotech company, Spinesmith Holdings, which generates over $15 million in annual revenue, will convert their balance sheet to Bitcoin for long term holding to avoid the overreach of banks.Market-beating investor and famed fund manager Bill Miller said he has been buying Bitcoin since it cost just $200.Jack Dorsey is mining Bitcoin.Galaxy Digital filed with The SEC For A Bitcoin Futures Exchange-traded Fund Under The Investment Company Act of 1940.Walmart is hiring a “Digital Currency And Cryptocurrency Product Lead.”This week the President of Argentina said he was open to adopting Bitcoin as legal tender to fight inflation. Private investment firm Neuberger Berman is adding Bitcoin futures to its $161 million Commodity Strategy fund.Jordan Peterson releases a podcast episode about Bitcoin, becoming the latest public intellectual to share his thoughts.Global investment manager VanEck filed with the SEC for a Bitcoin strategy futures exchange traded fund, for the second time. Nevada-based Black Rock Petroleum Company entered into an agreement with Optimum Mining Host to deploy and operate up to 1 million Bitcoin mining machines.The U.S. Senate rejected a bipartisan amendment aiming to clarify the tax-reporting provisions required for brokers supporting the Bitcoin economy.Independent investment firm Invesco, which currently operates 233 ETFs in the U.S., quietly applied for a Bitcoin ETF.This month’s “Bloomberg Crypto Outlook” reports a bullish future trajectory for Bitcoin, stating “we see performance parallels that could get the benchmark crypto back on track toward $100,000.”One of the largest bitcoin mining companies in North America, Marathon Digital Holdings, Inc., announced it will purchase 30,000 additional Antminer S19J Pros for $120.7 million.In a new shareholder letter, payments giant Square revealed customers bought $2.72 billion worth of bitcoin in Q2 of this year.

Bitcoin is up about 120% per year on average for the past 10 years. In the last year we had a 250% annualized return.

With a long eye toward the future, venture capitalist Alyse Killeen predicted Monday in an interview with Business Insider that, "Three or four years from now, most people will get access to Bitcoin through earning."

On Friday, in typical eloquent bullish fashion, MicroStrategy CEO Michael Saylor spoke on the Blockchain Interviews podcast: “Bitcoin is one of the most, if not the most disruptive technology of the decade, and it’s disrupting the energy industry, it’s disrupting the investment community, it’s disrupting the technology community. That means it’s disrupting politics and economics in general. It’s disrupting the definition of assets and property rights. So that being the case, it gets people’s attention and it’s progressive and it gets people focused. So I think it’s been great for morale.”

Permabull Saylor continued, “Bitcoin is a 10 year old successful proof of work system, like you’ve only got two things in the blockchain that have been deemed as property or commodity Bitcoin. In theory, there’s only two, but there’s only one of them that has a consistent strategy for the next decade and a consistent path for the last decade. And that’s Bitcoin, right? So I think it’s pretty important to understand that Bitcoin is pretty much the most predictable thing in the entire blockchain universe, everything else is uncertain.”

Bitcoiners will likely continue to do as they have done, which is hodl, and stay the course as we brace ourselves for new all time highs. 

origin »

ETH/LINK Price Action Candlestick Set (LINKETHPA) на Currencies.ru

$ 467.1 (+0.48%)
Объем 24H $0
Изменеия 24h: 0.85 %, 7d: 17.53 %
Cегодня L: $453.49 - H: $467.1
Капитализация $0 Rank 3676
Доступно / Всего 0 LINKETHPA

bitcoin price broke sunday highest correction may

bitcoin price → Результатов: 126


The Fed is expected to cut interest rates twice in 2025, what might this mean for the Bitcoin price?

The cryptocurrency market has gone mainstream. It is no longer retail investors’ assets as institutions globally are investing in Bitcoin and other major cryptocurrencies.   As a risk-based asset, Bitcoin’s price is affected by central bank policies, especially those from the United States Federal Reserve.

2025-2-18 15:05


Bitcoin Price Remains Bullish As Monthly Stochastic Sits Above 80, Here’s Why

The Bitcoin price has struggled to break above the $100,000 threshold decisively over the past four weeks, largely fluctuating within the $90,000 to $100,000 range. This correction and lackluster price action have caused a degree of bearish sentiment among traders, with some speculating that Bitcoin might have already reached its peak for the current cycle. […]

2025-1-15 18:30


Extremely Bullish 88-Day Structure Appears On Bitcoin Price Chart After Hitting $105,000 ATH

The Bitcoin price has continued its foray above the $100,000 threshold and is currently trading around new all-time highs. Following its recent surge to an all-time high (ATH) above $106,000, the Bitcoin price has played out an interesting pattern on the 1-day candlestick timeframe, which points to an extremely bullish outlook for the leading cryptocurrency.

2024-12-16 11:30


Are Bitcoin Whales Still Holding For Higher Profit? This On-Chain Signal Suggests So

The Bitcoin price performance in 2024 is one for the history books, with the premier cryptocurrency crossing the $100,000 mark for the first time ever. However, hitting this milestone opened the door to another conversation — when will the market top be in? As a result, several predictions of the Bitcoin price top have emerged […]

2024-12-15 12:30