Best of the Week
Most Popular
1.What Happened to the Stock Market Crash Experts Were Predicting - Sol_Palha
2.London Housing Market Property Bubble Vulnerable To Crash - GoldCore
3.The Plan to Control ALL Your Money is Now at Advanced Stage
4.Why Gold Is Set For An Epic Rally This Spring - James Burgess
5.MR ROBOT NHS Cyber Attack Hack - Why Israel, NSA, CIA and GCHQ are Culpable - Nadeem_Walayat
6.Emmanuel Macron and Banking Elite Win French Presidential Election 2017 - Nadeem_Walayat
7.Trend Lines Met, Technical's are Set - US Dollar is Ready to Rally (Elliott Wave Analysis) - Enda_Glynn
8.The Student Debt Servitude Sham - Gordon_T_Long
9.Czar Trump Fires Comey, Terminates Deep State FBI, CIA Director Next? - Nadeem_Walayat
10.UK Local Elections 2017 - Labour Blood Bath, UKIP Death, Tory June 8th Landslide - Nadeem_Walayat
Last 7 days
SPX/NDX/NAZ Hit New All-time Highs - 27th May 17
GBPUSD Top in Place, GOLD Price Ready to Rocket? - 27th May 17
Silver Mining Stocks Fundamentals - 27th May 17
BBC Newsnight Falls for FAKE POLLS, Opinion Pollsters Illusion for Mainstream Media to Sell - 27th May 17
UK Local Election Results Forecast for General Election 2017 - 26th May 17
Stock Market & Crude Oil Forecast! - 26th May 17
Opinion Pollsters UK General Election Seats Forecasts 2017 - 26th May 17
Bitcoin and AltCoins Crypto Price Correction - 26th May 17
Bearish Head and Shoulders in EURUSD? - 26th May 17
SELL US Stocks - Massive Market CRASH WARNING! - 26th May 17
EURGBP: A Picture of Elliott Wave Precision - 26th May 17
Credit Downgrades May Prompt Stock Market Capital Shift - 26th May 17
Rosenstein and Mueller: the Regime Change Tag-Team - 25th May 17
Stock Market Top - Are We There Yet? - 25th May 17
Should I Invest My Fortune in Gold? Inaugural Lecture by Dr Brian Lucey - 25th May 17
USD/CAD Continues Decline - 25th May 17
Bitcoin Price Goes Loco! Surges through $2,500 Despite Unclear Fork Issues - 25th May 17
The US-Saudi Arms Deal - Sordid Saudi Signals - 25th May 17
The No.1 Commodity Play In The World Today - 24th May 17
Marks and Spencer Profits Collapse, Latest Retailer Hit by Brexit Inflation Tsunami 2017 - 24th May 17
Why Online Trading Platforms Are Useful for Everyone - 24th May 17
The Stock Market Will Tank Hard - 24th May 17
It’s Better to Buy Gold & Silver When It DOESN’T Feel Good - 24th May 17
Global Warming - Saving Us From Us - 24th May 17
Stock Market Forecast for Next 3 Months - Video - 23rd May 17
Shale Oil & Gas Production Costs Spiral Higher As Monstrous Decline Rates Eat Into Cash Flows - 23rd May 17
The Only Metal Trump Wants More Than Gold - 23rd May 17
America's Southern Heritage is a Threat to the Deep State - 23rd May 17
Manchester Bombing - ISIS Islamic Terrorist Attack Attempt to Influence BrExit Election - 23rd May 17
What an America First Trade Policy Could Mean for the US Dollar - 22nd May 17
Gold and Sillver Markets - Silver Price Sharp Selloff - 22nd May - 22nd May 17
Stock Market Volatile C-Wave - 22nd May 17
Stock Market Trend Forecast and Fear Trading - 22nd May 17
US Dollar Cycle : Deep Dive - 21st May 17
Bitcoin Breaks the $2,000 Mark as Cryptocurrencies Continue to Explode Higher - 21st May 17
Stocks, Commodities and Gold Multi-Market Status - 21st May 17
Stock Market Day Trading Strategies and Brief 20th May 2017 - 21st May 17
DOW Needs to Rally Big or Correction is Next - 20th May 17
EURUSD reaches DO or DIE moment! - 20th May 17
How to Get FREE Walkers Crisps Multi-packs! £5 to £28k Pay Packet Promo - 20th May 17

Market Oracle FREE Newsletter

Why 95% of Traders Fail

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

© 2005-2016 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