Bitcoin has just soared through $5,000 USD for the first time ever topping its old high of $4,950.72 on September 1st.
It rose over $500, or 10%, today to hit a high of $5,341.
Combined with Bitcoin Cash it now sits near $5,700.
This isn’t an all-time high for the cryptocurrency space as a whole, though, as it hit a high of nearly $180 billion on September 1st and currently stands at just over $160 billion.
That may be due, partially, to people moving back into bitcoin prior to the next big fork in November.
Bitcoin has been gaining back market dominance against the rest of the cryptocurrencies since June and again claims more than 50% share of the entire market.
While bitcoin is still small in the grand scheme of things no one can avoid having to comment on it… from the IMF to the Federal Reserve to JPMorgan.
Recently, Christine Lagarde said that bitcoin could ultimately give central banks a run for their money. Not sure if the pun was intended or not, but it is apropos.
Of course, being the television puppet for the IMF, a communist style central planning agency, Lagarde has serious concerns about how governments will be able to extort bitcoin.
But, in the interview, she showed her massive lack of knowledge of the space. When asked about China banning Initial Coin Offerings (ICOs) she responded, “China has decided to ban the initial offering of bitcoins.”
She doesn’t even know what an ICO is!
Another commie, Axel Weber, who previously served as head of Germany's central bank displayed even more ignorance this week saying bitcoin is not a currency because it is not a store of value. That’s quite laughable considering his predecessors oversaw the Weimar Republic hyperinflation and the euro has lost about 99.999% of value versus bitcoin in the last eight years.
He said in 2015 that bitcoin was set to fail, "because there is no lender of last resort – there will always be boom and bust."
Not only has he been wrong on bitcoin’s failure, having risen 2,000% since his remark, but he doesn’t even realize that the reason bitcoin isn’t failing is BECAUSE there is no “lender of last resort” who can print up bitcoin on a whim and give to their commie friends.
Not to mention, central banks are the cause of booms and busts due to their manipulation of interest rates and counterfeiting of money.
And, since bitcoin has nearly doubled in price since Jamie Demon, of JPMorgan said it was a fraud, he has finally shut up about it, saying today, "I wouldn't put this high on the category of important things in the world, but I'm not going to talk about bitcoin anymore."
Good. Go back to doing your fraudulent deals with your dying fractional reserve banking system, Jamie.
Even Peter Schill hasn’t had much to say since he admitted publicly to Joby Weeks that he hasn’t even read Satoshi Nakamoto’s eight-page bitcoin whitepaper.
Meanwhile, one of the smartest minds in bitcoin, Trace Mayer, who first introduced me to bitcoin in 2011 at $3, has said his bitcoin price target for this coming February is $27,395!
That’s interesting timing because both Joby Weeks and Trace Mayer will be speaking at Cryptopulco at Anarchapulco as well as the TDV Internationalization & Investment Summit in February in Acapulco along with many other big names in the space such as Roger Ver, Dan Larimer and many more.
Our price target for bitcoin isn’t as high as Trace’s, but one thing is for sure… bitcoin isn’t going away and has the potential to take down the entire fraudulent central banking system.
No one can ignore it now… and the really interesting part is that there are currently only about 14 million bitcoin wallets in existence. If every one of them is owned by a solitary individual then that means 0.2% of the world’s population owns bitcoin currently.
What if that number goes to 2%?
And, institutional investors are just starting to invest now.
Where could this all go?
The sky is really the limit.
For now, though, we’ll enjoy another all-time high in bitcoin and a 177,000% gain for TDV subscribers who bought when we first recommended it at $3 in 2011.
In our celebration, we are offering a limited time discount of 10% to the TDV newsletter which includes, for free, our Bitcoin Basics book as well as the Book of Satoshi, to name just a few.
You can get access to that HERE.
We plan to increase rates for the newsletter at year end due to demand and inflation of the always depreciating US dollar so you can get the best price you will ever get by subscribing today, HERE.
This show is just getting started so stick with us here at TDV!
Haha, this price rise is a big 'f*ck you!' to Jamie Dimon and the Chinese government
Well not really... he brought the price down... bought in and now... wants it to rise so suddenly... he's "open minded" It's what they do... use their influence... to steer investors the wrong way...so he can capitalize... he's just used to being able to hide behind the public short memory and the fact that evidence that his "advice" is the opposite of what HE does was kept out of immediate scrutiny as we only saw what happened thru quarterly reports. With btc... his underhanded tactics made themselves known within seconds of him buying up btc... so yeah he's gunna shut up about it... it just exposed the main scam that is his main business model... making $$$ from misleading the ignorant.... if people in the traditional market world figure this out about him... he's got no game left. and so yeah... he's shutting up hoping everyone forgot that he said this and got caught doing the opposite.
I think the proper word for today would be... BALLIN!!!!
I knew we would break $5,000 here before the next fork but I did not expect it to jump that quickly and fast. Not complaining though enjoying the ride. I do hope we hit 10k + some time next year all the more reason to keep stackin it up!
that gif alone deserves its own post.
Yo man.
I guess Jeff we will be waiting for the 10K dollars soon.
$27,395 sounds unreasonably precise. Really just throwing a dart at the wall, and then hitting a spot to 5 decimals ??
Priceless. I can hardly believe she's so clueless. Yet if that would have been a slip up she would have corrected herself hopefully. Anyway...
Right on Jeff........ALL THE WAY UP !!!
LUCY SITz !!!
great intro photo!
honey badger!!!
A lot of people got the sponge bob face right now looking silly...
bruh u killing me with these gifs lmao
Awesome..
Central banks and their cronies will continue to slam Bitcoin and other alt coins but as the fiat system continues to weaken, smart monies will find refuge in the crypto space.
@meyrep ain't that the truth. I think its already too late for them though. Power to the people, government has had their turn its ours now. Just hope all the alt coins follow shortly I bought many of them two months ago all too high. Happy times ahead thanks to Steemit and Crypto's Cheer$:)
Hilarious photo. Well done Jeff :)
Haha eat a fat D Jamie lmao #longlivebitcoin
The only bitcoin prediction I care about is John McAfee's.
Y'know, on account of "the bet".
Though, of course, it might have been a British culinary reference.
Here fixed that for you. Add  to show pic.
price action amazing never seen anything like it
$6300 coming up next!
Jaime Dimon is going to be feeling really stupid, possibly even a little suicidal when Bitcoin reaches $25,000 hahaha
About time that f&%king clown shut up!!
Corporate banking failure... dont know why people would listen to him talk about money anyways!
Im beginning to read your articles more often!
Your almost there with getting another newsletter subscriber!
What you saying now Jamie Demon, back in your box
You know what that means Jeff
#NEO
Next stop...the MOON!
Amazing,.. Thanks for sharing..
... and we keep winning.
Yeah its nice to hear for thw first time
That's amazing, lets hope it keeps climbing.
Great post ,we really need the coins to go up to the sky.
thanks for the info mate
Right on Jeff, you crack me up.
We are close to 5500USD, there seems to be resistance. Either it will crash at 5500 or it will shoot for 6K or more... This week-end will be interesting for sure.
nice post.
Listen to Trace more and Roger less. A LOT less.
Awesome man. Thank you. Great piece. The future is so bright I have to wear shades.
I think the proper word for today would be...
thanks for searing.
people are stockpiling Bitcoins in antocipation of the Bitcoin gold fork, once that takes place they will move their money back to alt coins. I made a blog on this
2 thumbs up like bitcoin! All the way up!!! Way way up!!! :)
@dollarvigilante - it was definitely a great day for bitcoin! I would love to see the look on their faces once they fully realize that there's no central authority that they can shut down.
I'm attempting a market prediction algorithm using a 2000 year old technique found in Valens Anthology. There's problems to iron out, but hopefully better than nothing.
It doesn't take a genius to know that crypto's are going to take over the financial system over the next several years, but I'm hoping to model a time table. Suggestions are that some version of blockchain could take off between Feb 2019 - Feb 2021.
Hahahha I missed that statement by lagarde. What a dufus 😂😁😂
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Great post, I appreciate your work, I'm a 20 years experienced trader from Italy, I leave you my upvote and follow, it would be an honor to have you among my own followers!
Yeaaaah All the way up shine and Rise ...!!
Amazing post.. Thanks for sharing..
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