2.Stock Market Presidential Election Cycle Seasonal Trend Analysis - Nadeem_Walayat

3. Bitcoin S&P Pattern - Nadeem_Walayat

4.Nvidia Blow Off Top - Flying High like the Phoenix too Close to the Sun - Nadeem_Walayat

4.U.S. financial market’s “Weimar phase” impact to your fiat and digital assets - Raymond_Matison

5. How to Profit from the Global Warming ClImate Change Mega Death Trend - Part1 - Nadeem_Walayat

7.Bitcoin Gravy Train Trend Forecast 2024 - - Nadeem_Walayat

8.The Bond Trade and Interest Rates - Nadeem_Walayat

9.It’s Easy to Scream Stocks Bubble! - Stephen_McBride

10.Fed’s Next Intertest Rate Move might not align with popular consensus - Richard_Mills

Last 7 days

S&P Stock Market Trend Forecast to Dec 2024 - 16th Apr 24

No Deposit Bonuses: Boost Your Finances - 16th Apr 24

Global Warming ClImate Change Mega Death Trend - 8th Apr 24

Gold Is Rallying Again, But Silver Could Get REALLY Interesting - 8th Apr 24

Media Elite Belittle Inflation Struggles of Ordinary Americans - 8th Apr 24

Profit from the Roaring AI 2020's Tech Stocks Economic Boom - 8th Apr 24

Stock Market Election Year Five Nights at Freddy's - 7th Apr 24

It’s a New Macro, the Gold Market Knows It, But Dead Men Walking Do Not (yet)- 7th Apr 24

AI Revolution and NVDA: Why Tough Going May Be Ahead - 7th Apr 24

Hidden cost of US homeownership just saw its biggest spike in 5 years - 7th Apr 24

What Happens To Gold Price If The Fed Doesn’t Cut Rates? - 7th Apr 24

The Fed is becoming increasingly divided on interest rates - 7th Apr 24

The Evils of Paper Money Have no End - 7th Apr 24

Stock Market Presidential Election Cycle Seasonal Trend Analysis - 3rd Apr 24

Stock Market Presidential Election Cycle Seasonal Trend - 2nd Apr 24

Dow Stock Market Annual Percent Change Analysis 2024 - 2nd Apr 24

Bitcoin S&P Pattern - 31st Mar 24

S&P Stock Market Correlating Seasonal Swings - 31st Mar 24

S&P SEASONAL ANALYSIS - 31st Mar 24

Here's a Dirty Little Secret: Federal Reserve Monetary Policy Is Still Loose - 31st Mar 24

Tandem Chairman Paul Pester on Fintech, AI, and the Future of Banking in the UK - 31st Mar 24

Stock Market Volatility (VIX) - 25th Mar 24

Stock Market Investor Sentiment - 25th Mar 24

The Federal Reserve Didn't Do Anything But It Had Plenty to Say - 25th Mar 24

Market Oracle FREE Newsletter

Subscribe Now

BOOM! Bitcoin Rockets To New All-Time High As Cryptocurrencies Surge Higher!

Currencies / Bitcoin Aug 07, 2017 - 08:30 AM GMT

By: Jeff_Berwick

All eyes were on bitcoin on August 1st, as it underwent the biggest change it had undergone since its inception in 2009.

After years of debate, the issue of scalability resulted in a fracturing of bitcoin onto two separate paths, now called Bitcoin and Bitcoin Cash.

The usual cast of characters came out to warn that this was the death of bitcoin. And, as it always seems to do, bitcoin pushed on unscathed.

In fact, it was more than just unscathed. Just days after the fork it skyrocketed to new all-time highs.

On August 1st, bitcoin was trading at $2,735 and it hit a high so far today of $3,329 for a gain of 22% in the last few days.

And, that’s not including Bitcoin Cash which everyone who was holding bitcoin on August 1st also now has.

Bitcoin Cash has sold off the last few days and currently sits just over $200.

The two combined mean that anyone holding bitcoin on August 1st now has over $3,500 worth of bitcoin and Bitcoin Cash.

The entire cryptocurrency space skyrocketed today, with the exception of Bitcoin Cash.

The all-time high for market capitalization for the entire cryptocurrency space was $116 billion in June, and we currently sit just shy of that at $111 billion.

Those who have been following bitcoin for the last year know that bitcoin was hurt by its slowness to scale in the face of rapidly rising usage and it allowed many other cryptocurrencies which can handle larger volumes to gain on bitcoin’s dominance.

Bitcoin fell from 86% dominance in the crypto space to start the year to a low of 38% in June. But it has now begun to regain some of what it lost and rose about 50% just prior to the fork.

We’ll see if that continues now or not. And we’ll also see what kind of effect Bitcoin Cash has on the market in the coming weeks and months.

Believe it or not, this whole scaling issue still isn’t over and is expected to continue on at least until November.

In order to ensure you get all the best and most up-to-date information on what is happening in the space, subscribe to The Dollar Vigilante newsletter (subscribe HERE) where we have been covering bitcoin and cryptocurrencies since bitcoin was $3 in 2011.

Our next issue is coming out soon and I’ll reveal some shocking information about bitcoin that could potentially make or lose many people fortunes if they are unaware of it.

And when you sign up, you also get immediate access to our book Bitcoin Basics to give you all the basics you need to know to get started in the cryptocurrency space. And you get free access to the e-book, The Book Of Satoshi, which I call the “autobiography of bitcoin”, directly from the keyboard of Satoshi Nakomoto himself.

Make sure to subscribe HERE to get access to all of it.

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

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

The Market Oracle is a FREE Financial Markets Forecasting & Analysis web-site.
(c) 2005-2024 MarketOracle.co.uk (Market Oracle Ltd) - Market Oracle Ltd asserts copyright on all articles authored by our editorial team and all comments posted. Any and all information provided within the web-site, is for general information purposes only and Market Oracle Ltd do not warrant the accuracy, timeliness or suitability of any information provided on this site. nor is or shall be deemed to constitute, financial or any other advice or recommendation by us. and are also not meant to be investment advice or solicitation or recommendation to establish market positions. We do not give investment advice and our comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to enter into a market position either stock, option, futures contract, bonds, commodity or any other financial instrument at any time. We recommend that independent professional advice is obtained before you make any investment or trading decisions. By using this site you agree to this sites Terms of Use. From time to time we promote or endorse certain products / services that we believe are worthy of your time and attention. In return for that endorsement and only in the cases where you purchase directly though us may we be compensated by the producers of those products.