Most Popular
1. Banking Crisis is Stocks Bull Market Buying Opportunity - Nadeem_Walayat
2.The Crypto Signal for the Precious Metals Market - P_Radomski_CFA
3. One Possible Outcome to a New World Order - Raymond_Matison
4.Nvidia Blow Off Top - Flying High like the Phoenix too Close to the Sun - Nadeem_Walayat
5. Apple AAPL Stock Trend and Earnings Analysis - Nadeem_Walayat
6.AI, Stocks, and Gold Stocks – Connected After All - P_Radomski_CFA
7.Stock Market CHEAT SHEET - - Nadeem_Walayat
8.US Debt Ceiling Crisis Smoke and Mirrors Circus - Nadeem_Walayat
9.Silver Price May Explode - Avi_Gilburt
10.More US Banks Could Collapse -- A Lot More- EWI
Last 7 days
US Presidential Election Cycle and Recessions - 18th Mar 24
US Recession Already Happened in 2022! - 18th Mar 24
AI can now remember everything you say - 18th Mar 24
Bitcoin Crypto Mania 2024 - MicroStrategy MSTR Blow off Top! - 14th Mar 24
Bitcoin Gravy Train Trend Forecast 2024 - 11th Mar 24
Gold and the Long-Term Inflation Cycle - 11th Mar 24
Fed’s Next Intertest Rate Move might not align with popular consensus - 11th Mar 24
Two Reasons The Fed Manipulates Interest Rates - 11th Mar 24
US Dollar Trend 2024 - 9th Mar 2024
The Bond Trade and Interest Rates - 9th Mar 2024
Investors Don’t Believe the Gold Rally, Still Prefer General Stocks - 9th Mar 2024
Paper Gold Vs. Real Gold: It's Important to Know the Difference - 9th Mar 2024
Stocks: What This "Record Extreme" Indicator May Be Signaling - 9th Mar 2024
My 3 Favorite Trade Setups - Elliott Wave Course - 9th Mar 2024
Bitcoin Crypto Bubble Mania! - 4th Mar 2024
US Interest Rates - When WIll the Fed Pivot - 1st Mar 2024
S&P Stock Market Real Earnings Yield - 29th Feb 2024
US Unemployment is a Fake Statistic - 29th Feb 2024
U.S. financial market’s “Weimar phase” impact to your fiat and digital assets - 29th Feb 2024
What a Breakdown in Silver Mining Stocks! What an Opportunity! - 29th Feb 2024
Why AI will Soon become SA - Synthetic Intelligence - The Machine Learning Megatrend - 29th Feb 2024
Keep Calm and Carry on Buying Quantum AI Tech Stocks - 19th Feb 24

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

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

© 2005-2022 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