$60K will be here before October.
Well, I guess my prediction was off by two weeks, nobody's perfect... The delay was primarily thanks to utter faggotry in China (to wit, Evergrande Group becoming near-insolvent, which also sent the stock market reeling, and the ban on all cryptocurrency activity, which threw a wrench in the works but didn't change anything fundamental). However, China's loss will be the rest of the world's gain, and it is fun to see China miss the boat for once.
While that hiccup slowed down the inevitable, here we are at last. This new push over $60K is thanks mostly to the SEC's decision yesterday not to oppose futures-driven ETFs from trading next week, but we had been creeping back to the high 50's for the past month anyway. And that puts us up 50% since July 29th, when I posted that we were about to break out of the three-month doldrums since the "crash". Anyone who bought near the top of the last great run-up is back in the green now.
The next order of business is to recapture the all-time high of $64.8K, which will be sooner rather than later.
From there, I will leave it to the imagination. But I am a firm believer that the world will behold the massive power of dwindling supply and exponential demand over the next few months and into the next two years. It will be a lot more intense than even a lot of optimists predict, Whoever compared Bitcoin to pink sheet stocks upthread missed a crucial element: stinky pinkies are massively dilutive; that will never be a factor with Bitcoin.
Congrats to longs who held and added during the May-July slump and to all those who got in prior to this year. Not that they really need congratulations; the bottom line ought to be cheering them up all by itself right now. Keep a strong hand and don't invest more than you can afford to lose. And don't listen to nitwits like me; do your own due diligence.
