Bitcoin Page

China drives Bitcoin to $29,000 and I hope alot of you bought. You either see the value of Bitcoin or you don't. Buying a $29,000 for the long haul is good imo. Half the people still say it has no value and the other half says it does. Soon we will be able to do smart contracts where party A will have to complete their job and then party B will agree the job is done and then the Bitcoin will be released from holding to party A as payment. Because Bitcoin is trusted that will be what most people want as it holds its value the best.

Now we have to wait out Chinas attack on Bitcoin. Yes a country is trying to do in Bitcoin. This driving down should be waited out and then a good buying opportunity will be here for those that want to invest. China could drive the price down to $25,000 or even $20,000 because of how big the country is with billions of people. I think everyone is like me and waiting for the bottom. There could be a fake bottom and the price will go up and then selloff even further down. We still don't know what stand the United States government will take so that will cause more panic selling imo and lead to an even better buying opportunity as people selloff Bitcoins.

My personal guess is Bitcoin will end the year anywhere from $60,000 to $80,000 and the current news is good so the outlook is positive. If this changes I will change this text. This is my researched opinion and in no means do I talk for anyone else other than myself. Do your own research before buying.

For months haters bashed Bitcoin as being used by criminals. Now it has reversed 180 degrees with the Colonial pipeline stolen Bitcoins being recovered. Now it is Bitcoin is a crime buster!

This is the remarkable story of a man and his tweets. Elon Must has so much sway in this world that he can save or ruin the Bitcoin. Just as the Bitcoin is about to crash Elon tweets he is back in love with Bitcoin as miners use more clean energy and the Bitcoin shoots up to $39,000. With Elon Must representing Tesla and with him will follow the institutions accepting Bitcoin people are again buying it left and right. Bitcoin is the only digital coin worth owning and you can see how volatile it is. Just as the technicals were breaking down and all the big mouths who said it would hit $20,000 are thumping there chests Elon says the Bitcoin is good now it is almost $40,000 again. And don't forget 'CRYPTOCURRENCY El Salvador becomes first country to adopt bitcoin as legal tender after passing law' headline to. So thing are once again turning positive for Bitcoin. You have Square, Paypal and even banks getting into Bitcoin. More and more good news should be breaking and Elon has opened the door to Tesla accepting Bitcoin for cars. He really does give the OK symbol for everyone else to use Bitcoin. I don't even know what uses people will come up with for Bitcoin but I know they will come up with many great ideas and many will be a hit. And yes they will all be using Bitcoin and not the other coins. Bitcoin is branded by the news every day and it is a household word and the only trusted cryptocurrency. The bottom range of Bitcoin is $10,000 and the top range of Bitcoin is $250,000 currently. That is some gamble but many people like those odds. Seems Elon does. And don't forget 'MicroStrategy to Offer $400M in Notes to Buy More Bitcoin Even as It Warns of $284.5M Impairment'

People saying Bitcoin will hit $500,000 are now saying $10,000. This is why only up to 5% of your savings should in Bitcoin. Here is one article

Looks like we have to wait for ESG and the sustainability mandate that will bring Institutions back into buying Bitcoins ESG no more coal mining please!

6-8-2021 Bitcoin loophole for taxes. Thinking of selling because of Elon Musk downturn and buying back when its over. I found out you can take advantage of taxes doing this. advantage of taxes doing this.
So I plan to buy back and this just happens to be real for us as we are selling because Elon Must has scared everyone. Once the scare is over I will buy back. This opens the door to this tax savings. So while Elong Musk really screwed us over we do get something good out it, tax savings. I also expect once the stock market tops out everyone will come back to Bitcoin.

6-8-2021 Play the players. Elong Musk took the steam out of Bitcoin. Anyone who saw and sold was brilliant. The comeback according to JP Morgan and other expert Bitcoin trackers will happen in the 26k to 29k range. Nobody really knows but they appear right.

6-6-2021 It looks like a down turn in Bitcoin but the great thing about Bitcoin is something is around every corner. 70% of the things around the corner will be good. Elon Musk saying bad stuff about Bitcoin is fine since he doesn't work in this field or know the future. He also made ANONYMOUS mad as they threaten Musk for manipulating Bitcoin.

6-2-2021 JP Morgan claims Bitcoin won't see an upside until it hits $26k. Even though Bitcoin hit $30,000 I guess that wasn't enough of a selloff for them. With this economy I wouldn't expect much steam to shoot up the price. More companies are making products and services around Bitcoins. The long term view of 2 to 5 years is that Bitcoin will rise to $100,000 or higher. People will be using Bitcoins because of the low transaction fee and they don't trust other digital currencies.

5-26-2021 One million Ethiopians signed up for the country’s first mobile wallet in one week. That is why I like the Bitcoin. All these countries with dictators and causing huge inflation will drive people to the stable Bitcoin. Bitcoin won't have inflation problems and the more people buying Bitcoins the more stable it will become. It is a great value store. Some people don't see the future but when Bitcoin hit $30,000, well those that bought at $30,000 are brilliant. I think these other countries will drive the next leg up in price.

5-25-2021 Tomorrow I am going to take half my crypto money and put it into a real esatate stock, Welltower Inc. (WELL) and I already own my other real estate play, Crown Castle International Corp. (CCI) and then put the rest into Bitcoin. Real estate is to hedge against the inflation for now and I will still own a bitcoin for investment. The coming months I need a hedge and Bitcoin is no hedge.

5-23-2021 China taking a tough stance on Bitcoin and the United States looking to regulate crypto currencies are taking a hit on the price of Bitcoin. Bitcoin is the only coin to buy right now. Yes it doesn't have all the other problems the others have because Bitcoin currently has ties to exchanges that make the USA government nervous. Taproot is an upgrade that gives Bitcoin smart contract ability but it still isn't involved in banks and exchanges like the other digital coins. So Bitcoin is the safest by far when it comes to regulations. I am not nervous about Bitcoing at all.

5-23-2021 Coinbase has a market cap of $48 billion. Compare that to the Nasdaq (NDAQ), which operates global exchanges and has a $27 billion market cap. That is why I don't buy Coinbase. The Bitcoin is the product and the real thing. I will buy Bitcoins for $36,000 as it was this week. I see Coinbase as just leeching off the creators of Bitcoin. I posted why Bitcoin has value below as my first post. Bitcoin will hit $200,000 probably in the next years. It will be used by many banks as the safe preferred value to trade items in. Coinbase had nothing to do with Bitcoin and will have competition and will be lucky to double in price.

5-21-2021 They probably call him a nerd but I like him. And he is great at technicals! He is predicting Bitcoing will be buyable at $36,500 but I don't wait. I know Bitcoin is heading much higher so I will be in the $37,000's before it goes back up to 38k and 39k. I was shocked this guy was pro Bitcoin as he is big on bonds and those usually don't mesh.

5-19-2021 Chance to buy in low 30's is over just this fast. What a gift to those hawks who were paying attention and snagged it. Wow. Anyone lucky enough to see the $30,000 and jump on it is going to turn a nice profit!

5-19-2021 Bitcoin hit $30,000 today from China saying it is blocking Bitcoin. But shrewd buyers who saw this buying opportunity bought it. It is a great time in the low 30's to buy Bitcoin imo. This is the buy range I wanted. Showing strong support here.

5-18-2021 With tax season ending we should see over the next month people buying Bitcoin again. This theory has to go against many other factors like the FED and the economy. But we know one thing now and that is the Bitcoin is not a good hedge against inflation.

5-17-2021 Why do people care what Elon Musk thinks. But it helped fuel the Sunday selloff and I had my buy price set for $43,000 and it hit 42k and moving up now. So will I put my money where my mouth was. Yes. I find $43,000 good price for a target price of $70,000 or higher. If the Bitcoin falls so be it. I know I am in for long haul. This is the tough call everyone has to make. But I am used to the Sunday selloff.

5-14-2021 I feel like Bitcoin won't move until it passes the Taproot upgrade to get smart contracts that Ethereum and The Internet Coin ICP-USD have.
For those having the trouble I had in finding The Internet Company on Coinbase Pro. No endorsement I just got fed up on how to find this darn coin. Here is How to find The Internet Company coin on Coinbase Pro.

5-13-2021 Sell off because of Elon Musk means nothing to me. It does show how volatile and shakey and risky Bitcoin is. I was out because of technicals breaking down last weekend as I posted. Right now we are all sitting at are computers thinking I hope Bitcoin hits 40k and another group hoping for 35k. So if I think everyone is waiting on 40k I am going to buy at 43k if it hits that low. I think Bitcoin can hit 70k or 80k this year so 43k or 45k would be great. Plenty of experienced trades saying it will collapse into the 20's. So you have to limit how much you put into Bitcoin. 2% of your savings is what we call limited. If there is collapse I would go up to 7% of my savings because I believe in the Bitcoin and it will be super low in price but that is only if the price collapses.
Remember Elon Musk has nothing to do with the Bitcoin. I have posted the reasons I put value into the Bitcoin. I put 2% of my money back into Bitcoin now and with or without Elon the Bitcoin goes on unchanged.

5-12-2021 A new coin called The Internet Coin ICP-USD. Yes that is the name. I saw it on Coinbase and Coinbase Pro and i use Coinbase Pro because its much cheaper to buy and sell. The Internet Coin as they call it wants to be the next Ethereum only faster and cheaper and better at smart transactions. Should be interesting to watch. Digital coins are getting risky and I got 1.5% of my money the Internet Coin and 1.5% in Ethereum and I know the risk is high. Read about it here

5-10-2021 Ethereum is moving higher with Bitcoin failing to pass the Taproot upgrade. Ethereum is strong and good right now and I can see it having a nice bull run to $5,000 or $6,000 due to Bitcoin delay in Taproot. I expect Bitcoin to pass Taproot soon but in the meantime it gives Ethereum a nice tail wind to ralley on. If you understand Ethereum you may want to jump in on this tail wind.

Latest Update. Sadly it Looks like Bitcoin is failing again to hold and press through any resistance. This is now a bad sign.
Looking closer the Taproot upgrade was voted down so this is probably one reason Bitcoin isn't taking off this week. Ethereum has smart contracts which is similar to Taproot. It allows conditions to be set before the coin is transferred and that is very valuable. So maybe Ethereum continues higher since Taproot was voted down for Bitcoin.
I am not a buyer of Bitcoin right now. It is 50-50 if Bitcoin goes up 20k or down 20k from here so I am selling and will have just 4% if my risk money in Bitcoin. I am going to buy Bitcoin if it crashes. Also the ethereum chart looks stronger then the Bitcoin chart making me think Bitcoin is headed down since it couldn't push into new highs.

Heads up. Bitcoin price drops on Sunday because the banks are closed. If Bitcoin goes up on Sunday that means the big guys know we are aware of their game. This game is to drive the price down so they can make a quick 10%. If Bitcoin on Sunday stays the same or higher I would think of that as bullish. Becuse if you ran a billion hedge fund wouldn't you buy Bitcoins and wait for Sunday morning to sell them and cause a panic. Then buy even cheaper Sunday night. This is what they have been doing for a year now. But people will start to catch on because we will share this info.

Bitcoin Price is constantly changing. It is very risky and volatile. You either love it or hate it. I will do my best to show why Bitcoin has value and what I think the value is.
You either think there is a bright future for digital currency or you don't. Right now there are only two real digital coins, Bitcoin and Ethereum. I like both but I have only fully researched Bitcoin. But Ethereum is being used in transactions and can be programmed to do smart transactions so I will research that as it is very interesting.

May 8 2021 - Technicals show Bitcoin breaking above the moving average which is usually bullish. But Bitcoin is so volatile and it is not a stock but it does follow the same patterns as a stock for the most part. Bitcoin can turn on a dime and drop $5000 in one day.

Reasons Bitcoin Has Value

Price Range for Bitcoin - From experts I follow its $20,000 to $80,000 currently. So you see its very risky.

This is why I focus on the future. I don't care personally about the current price. I care about the price in 2 years. This is my opinions on why I bought the bitcoin for the next 2 to 5 years. Don't ask me about forks like Bitcoin Cash as I only do the original Bitcoin.

Why is Bitcoin worth anything? This is what I first asked.

1) No company owns it. Nobody can control it. Facebook wants to create a coin and it will fail because they control it. Bitcoin is like the wind. It just floats on its own and is free and the price is set by the users buying and selling it. You don't get any more real and free than that.

2) Yes there is no patent on the Bitcoin, especially the block chain, but companies are filing patents around the Bitcoin. If Bitcoin was a real company it would be worth 100 billion just from the patents. Companies see the future and are filing Bitcoin related patents. Not to mention Goldman Sachs will soon offer customers a fund that invests only in Bitcoin. They will pay no fees because there is no patent on Bitcoin so no royalties.

3) Cost in electricity to make it. Say Bitcoin costs $10,000 to mine in electricty, computers, and all other costs. I will gladly buy a Bitcoin at this cost. Maybe in the future mining will get restricted and all crypto currencies will come under pressure as less are mined but most of the Bitcoins have already been mined so its safer. Why do I say this. Because Bitcoin should only support miners who use reusable energy or anything but dirty energy like coal.

4) You can buy stuff across the globe with it fast and secure. Soon you can buy a Tesla car with Bitcoins.

5) If you lose your password you are locked our forever. Tough but this adds to the intrinsic value being so secure you can lose your Bitcoin forever. That security is worth a lot more than most realize. Do not lose your password!

6) You can slice up the bitcoing into parts like .01 of a bitcoin. You can buy and sell anything with Bitcoin at very low to no fees. This is cheaper than credit cards. Bingo! Value goes up.

7) Trackable. The Bitcoin block chain records all transactions made with that Bitcoin. So if a Bitcoin is used by 100 people then all those 100 transactions are stored forever. The FBI can make sure Bitcoin isn't used for illegal activities. This means the government should be fine wiht Bitcoin.

8) Square uses Bitcoin in its cash app. Paypal uses Bitcoin with Venmo. Elon Must likes Bitcoin. MicroStrategy has its cash converted into Bitcoins worth billions. Wall Street is trying to start ETF funds for Bitcoins. Wall Street is looking for ways to make money off of Bitcoins in thousands of ways and many will succeed and make Bitcoin even more valuable.

9) Bitcoin is branded without a single marketing dollar. It gets free press. This free press would cost a normal company hundreds of millions of dollars.

10) There is only 20 million bitcoins that can be mined so its a scarce resource and 20% of the bitcoins have been lost forever due to lost passwords. So 16 billion bitcoins actually exist.

11) The Bitcoin programmers have spent 10 years fixing bugs and making the Bitcoin extremely safe and secure. People don't need to be scared of getting their Bitcoins stolen because you can use Coinbase to handle your Bitcoins and they are insured.

12) Bitcoin sells off during tax season as people need money to pay their taxes. We are coming out of tax season now.

13 Cons, The government hasn't passed any regulation or given approval of Bitcoin or set up a proper tax plan for Bitcoin yet. But the government has said they are fine with the Bitcoin in the past and I believe they will keep this stance.

All this intrinsic value is why I have invested in the Bitcoin. I believe the usefulness is there and being the first and fully free and uncontrolled digital coin gives it first mover advantage. With a maximum of 20 million Bitcoins ever this means it will become scarce and means no one can do anything about it and rig the system. This is a true digital coin that can't be faked, or fooled with. The Bitcoin programmers have spent 10 years fixing bugs and making the Bitcoin extremely safe and secure.

So yes I know the Bitcoin price can fall to $20,000 but my research tells me it is headed to $200,000 before it heads to $20,000. But what if Bitcoin drops to $20,000. I will hold because I feel the future is bright and just like in the past Bitcoin will take off in spurts. So only you risk money to buy and only 10% of your riskable money.

I will say it again. So only you risk money to buy and only 10% of your riskable money.

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