Bitcoin is like “Nothing can’t stop me I’m all the way up”
That’s right, after all the drama the past few weeks targeting the number one of all cryptocurrencies, the left for dead, notorious B.I.T.C.O.I.N managed to survive. Not only it did not die, but it’s also rising again reaching new historical heights.
BTC is now 2.5x more valuable than gold
What Wall Street people are calling a bubble, is getting bigger. The $3000 wall has been broken followed by the $3100 and $3200 steps. Bitcoin right now is at $3250, Gold is at $1260 per ounce. You don’t to need to be a mathematician to figure BTC 2.5x more valuable than Gold.
Meanwhile Bitcoin cash crashes
The new guy was on fire on August 3rd. It went suspiciously from $220 to $717 overnight making a lot of shorters/investors happy.
However, we suspected a pump and dump strategy in the previous article and we were right. Now it’s back to $210 and continues to drop. Even though Coinbase announced earlier they’ll support it on January 1st, 2018, we’re not sure it will rise until then.
We also mentioned BCH was ranked #3. Guess what? It’s not anymore. Ripple (XRP) took its spot back.
Globally everything is going back up but BCH
Ethereum is going back up. Litecoin is going back up even though it didn’t get to shine during the storm. Globally the market is getting better. Most of all the red is now green. Again, only BCH seems to be in trouble.
Bip 91, Segwit, Bitcoin Cash and bubble, Bitcoins miners and investors don’t care. BTC was sick but is now recovering fast. Note that the price should stabilize around $3000 before chasing the $4000 wall but since the market is volatile and unpredictable, we can’t say that for sure.