Best of the Week
Most Popular
1.Spain Ignores Scotland Lesson as Catalan Independence Referendum Could Spark Civil War - Nadeem_Walayat
2.Used Car Buying From UK Dealer Top Tips, CarMotion.co.uk Real Customer Experience - N_Walayat
3.Spanish New Civil War Begins as Madrid Regime Storm Troopers Quell Catalan Independence Rebellion - Nadeem_Walayat
4.Virgin Media Broadband Down, Catastrophic UK Wide Failure! - Nadeem_Walayat
5.Are the US Markets setting up for an Early October Surprise? - Chris_Vermeulen
6.The Pension Storm Is Coming To Europe—It May Be The End Of Europe As We Know It -John_Mauldin
7.Stock Market Crash 2018; Will it Prove to be Another Buying Opportunity - Sol_Palha
8.The Profoundly Personal Impact Of The National Debt On Our Retirements - Dan_Amerman
9.Stock Market as Good as it Gets; Like 2000 With a Twist -Gary_Tanashian
10.1987 Stock Market Crash 30th Anniversary Greatest Investing Lesson Learned - Nadeem_Walayat
Last 7 days
Bitcoin Hits $6,000, $100 Billion Market Cap As Helicopter Ben and Jamie Demon Warn The End Is Near! - 22nd Oct 17
Time for Caution in Gold Miners - 22nd Oct 17
“Great Rotation” Ahead; Will it Be Inflationary or Deflationary? - 21st Oct 17
The Trigger for Volatility, Rates and the Next Crisis - 21st Oct 17
Perks to Consider an Agent for Auto Insurance - 21st Oct 17
Emerging Megatrends Hurting Consumers - 21st Oct 17
A Catalyst of the Stock Market Bubble Bust - 21st Oct 17
Silver Stocks Comatose - 21st Oct 17
Stock Investors Ignore What May Be The Biggest Policy Error In History - 20th Oct 17
Gold Up 74% Since Last Stock Market Peak 10 Years Ago - 20th Oct 17
Labour Sheffield City Council Employs Army of Spy's to Track Down Tree Campaigners / Felling's Watchers - 20th Oct 17
Stock Market Calm Before The Storm - 20th Oct 17
GOLD Price Creates Bullish Higher Low - 20th Oct 17
Here’s the US’s Biggest Vulnerability in NAFTA Negotiations - 20th Oct 17
The Greatest Investing Lesson Learned from the 1987 Stock Market Crash - 20th Oct 17
Stock Market Time to Go All-in. Short, That Is - 19th Oct 17
How Gold Bullion Protects From Conflict And War - 19th Oct 17
Stock Market Super Cycle Wave C May Have Started - 19th Oct 17
Negative Expectations, Will the Stock Market Correct? - 19th Oct 17
Knowing the Factors Affect your Car Insurance Premium - 19th Oct 17
Getting Your Feet Wet In Crypto Currencies - 19th Oct 17
10 Years Ago Today a Stocks Bear Market Started - 19th Oct 17
1987 Stock Market Crash 30th Anniversary Greatest Investing Lesson Learned - 19th Oct 17
Virgin Media Broadband Down, Catastrophic UK Wide Failure! - 19th Oct 17
The Passive Investing Bubble May Trigger A Massive Exodus from Stocks - 18th Oct 17
Gold Is In A Dangerous Spot - 18th Oct 17
History Says Global Debt Levels Will Lead to Another Crisis - 18th Oct 17
Deflation Basics Series: The Quantity Theory of Money - 18th Oct 17
Attractive European Countries for Foreign Investors - 18th Oct 17
Financial Transcription Services – What investors should know about them - 18th Oct 17
Brexit UK Vulnerable As Gold Bar Exports Distort UK Trade Figures - 18th Oct 17
Surge in UK Race Hate Crimes, Micro-Racism, Sheffield, Millhouses Park, Black on Asian - 18th Oct 17
Comfortably Numb: Surviving the Assault on Silver - 17th Oct 17
Are Amey Street Tree Felling's Devaluing Sheffield House Prices? - 17th Oct 17
12 Real-Life Techniques That Will Make You a Better Trader Now - 17th Oct 17
Warren Buffett Predicting Dow One Million - Being Bold Or Overly Cautious? - 17th Oct 17
Globalization is Poverty - 17th Oct 17
Boomers Are Not Saving Enough for Retirement, Neither Is the Government - 16th Oct 17
Stock Market Trading Dow Theory - 16th Oct 17
Stocks Slightly Higher as They Set New Record Highs - 16th Oct 17
Why is Big Data is so Important for Casino Player Acquisition and Retention - 16th Oct 17
How Investors Can Play The Bitcoin Boom - 16th Oct 17
Who Will Be the Next Fed Chief - And Why It Matters  - 16th Oct 17
Stock Market Only Minor Top Ahead - 16th Oct 17
Precious Metals Sector is on Major Buy Signal - 16th Oct 17
Really Bad Ideas - The Fed Should Have And Defend An Inflation Target - 16th Oct 17
The Bullish Chartology for Gold - 15th Oct 17
Wikileaks Mocking US Government Over Bitcoin Shows Why There Is No Stopping Bitcoin - 15th Oct 17
How to Wipe Out Puerto Rico's Debt Without Hurting Bondholders - 15th Oct 17
Gold And Silver – Think Prices Are Manipulated? Look In The Mirror! - 15th Oct 17

Market Oracle FREE Newsletter

3 Videos + 8 Charts = Opportunities You Need to See - Free

Crypto Craziness: Bitcoin Plunges on Fork Concerns, Steem Skyrockets and Dash Surges Above $100

Currencies / Bitcoin Mar 19, 2017 - 04:34 AM GMT

By: Jeff_Berwick

Currencies

The last month has not helped bitcoin’s reputation as being a volatile currency.

A month ago bitcoin was trading near $1,000. Two weeks later it sat on the cusp of $1,300. Then, after the SEC turned down a bitcoin ETF, it sank below $1,000 briefly a week ago.


Since then it climbed above $1,250. And, in the last three days, has given up all those gains and is currently below $1,000 yet again.

What happened this time?

The biggest reason appears to be concern about a possible bitcoin hard fork.

For those not used to cryptocurrencies, that means a large amount of the users of the currency may split the blockchain and create their own chain… which will leave many, afterwards, having to choose between two different versions of bitcoin.

We warned TDV subscribers that this was the biggest risk we saw to bitcoin a few months ago and it has now come to fruition.

For this reason, I am interviewing one of the biggest names in bitcoin, Trace Mayer, right after this blog is released. It will be released as soon as we can on The Dollar Vigilante Youtube channel here (make sure to subscribe to the channel to ensure you see it as soon as it is out).

Trace is about as connected in bitcoin as anyone I know… in fact, he is my pick for actually being Satoshi Nakamoto. So you won’t want to miss this interview… it could move the market dramatically.

Then, as soon as I am done with Trace, I am interviewing the Bitcoin Jesus, Roger Ver. That interview will be put on Anarchast’s Youtube Channel here (so make sure to subscribe so you don’t miss it).

Roger Ver is the largest proponent of Bitcoin Unlimited and is the one who appears to be forcing this fork issue forward. So, we’ll be talking to him about what he is doing and what might happen next.

DASH & ETHEREUM AT ALL-TIME HIGHS

We have featured very few altcoins to TDV subscribers but two of the ones we have featured are at all-time highs.

We featured Ethereum about one year ago when it was near $2. It is currently over $40.

And, we featured Dash less than a month ago near $17 and it has skyrocketed and is over $120 currently.

 

None of these things is happening in a vacuum. Many people, worried about a bitcoin hard fork, have swapped out of bitcoin and, of course not wanting to go into a currency that funds terrorism, like the US dollar, they have been switching for other cryptocurrencies like Ethereum and Dash.

To find out what might happen next make sure to check out my interviews with Trace Mayer and Roger Ver in the next 1-2 days and subscribe to the TDV newsletter (subscribe here) to always get the best information on cryptocurrencies.

STEEM SKYROCKETS 200%+

One other cryptocurrency that we featured to subscribers last year is Steem. I warned that it was going to be very, very speculative, but an interesting speculation when it neared $0.20.

It since had sunk as low as $0.07 but then a few days ago, Dan Larimer, one of the co-founders of Steemit, announced his resignation.

The timing was interesting because Steem announced a new powerdown schedule nearly 14 weeks ago and it meant, and some speculated, that it would put extreme pressure on the Steem currency for 13 weeks (the length of the new powerdown).

That looks like it may have come true because Steem skyrocketed in the last few days and is up over 200% in the last 24 hours alone to over $0.33.

I don’t expect it will stay at these high levels for too long… but this is a massive increase in just a few days for Steem and something to take note of.

CRYPTO CRAZINESS

As you can see, the cryptocurrency market is wild and crazy as you’d expect a brand new sector to be. And, also as you can see, massive gains can be had. We even featured bitcoin at $3 in 2011 so we have made many of our subscribers fortunes.

To find out more about cryptocurrencies and make sure you get all the best information on the space from the financial newsletter who has covered it since 2011 click here.

Yes, cryptocurrencies are volatile. But they also have the potential to make fortunes. And, by using cryptocurrencies you are not abetting or aiding war, terrorism or drug smuggling like those who use US dollars do.

Not that there is anything wrong with drug smuggling. But, that’s a topic for another day.

Anarcho-Capitalist.  Libertarian.  Freedom fighter against mankind’s two biggest enemies, the State and the Central Banks.  Jeff Berwick is the founder of The Dollar Vigilante, CEO of TDV Media & Services and host of the popular video podcast, Anarchast.  Jeff is a prominent speaker at many of the world’s freedom, investment and gold conferences as well as regularly in the media.

© 2017 Copyright Jeff Berwick - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

Jeff Berwick Archive

© 2005-2017 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

Catching a Falling Financial Knife