1 = 906.97 USD

Bitcoin News

Bitcoin Crushes $900 Barrier in A Matter of Hours; Next Stop $1000

Bitcoin Crushes $900 Barrier in A Matter of Hours; Next Stop $1000

Bitcoin Crushes $900 Barrier in A Matter of Hours; Next Stop $1000

Bitcoin seems destined to wish all of you a Merry Christmas, as we all do here at BitConnect. The timing of this epic “Bull Run” couldn’t be any better during this holiday season. three days have triggered a level of Bitcoin demand, activity, and trading that may be unprecedented in Bitcoin history. This factors in the millions of people who have joined the Bitcoin ecosystem since the last time anything like this happened, during the rise of Mt. Gox in November of 2013. when many of you hadn’t even heard of Bitcoin.

Next stop: $1000 USD - All aboard!

According to coinhills.com, the sheer volume of Bitcoin trades and the amount transacted over the last 72 hours hasn’t been seen in years. On Thursday, their numbers had shown over 22,500,000 BTCs were traded, or almost $20 billion USD worth. Through early Friday’s trading session during business hours in Beijing, another 16,360,000 Bitcoins were traded, which equates to over $15 Billion USD worth.

Bitcoin passed $900 USD less than 54 hours after it passed $800 USD, so at this pace, it will reach $1000 USD by Christmas morning, at least in the West. So you just made over 12% on your money within the last three days. Try doing that with Gold or Silver.

These numbers almost match the total market capitalization and bitcoins in circulation. This volume is almost exclusively out of China’s Yuan fiat currency, which accounts for 98% of all Bitcoin trades. It is fairly easy to pin the blame, or thanks, for this market movement on the Federal Reserve’s rate hike last week by 25 basis points, thus creating this ripple in the market.

Also, understand that this may also be happening as a hedge against futures, and Gold is moving down at the same time. Many are worried about the United States’ economic strength to support an interest rate increase, and investors may be moving into Bitcoin as a “safe haven.

Over the past three and a half years, Bitcoin has been used as a ‘safe haven' effectively several times, including in Cyprus in April of 2013, the Grexit" in the summer of 2015, and theBrexit" earlier this year. People who move fast usually make a handsome profit, and that is definitely the case for some who began moving on Tuesday and Wednesday.

So Happy Holidays from BitConnect’s News Department, and have a great Christmas weekend, wherever you are. Enjoy your (potentially) $1000 Bitcoins! Buy a Tesla with Bitcoin (either a Model S or pre-order a Model 3.) You deserve it for being smart enough to invest in Bitcoin in 2016.

Author : Evander Smart

Evander Smart worked for many years as a Wall Street banker, and has learned how the economy is self-destructing from the inside. His travels, experience and research have led him to Bitcoin as the best way forward for the common man. He looks to spread the word on how Bitcoin can help anyone break the shackles of economic slavery being created by global establishment forces. Evander gets you thinking about what money really is, and how it will work for you going forward. The world of finance is getting ready for incredible changes, and he is getting ready for what's coming next. Are you? Learn more about "The Future of Money" @ Bitcoin Video University

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