Wall Street’s resident bitcoin buff Mike Novogratz has moved his target to $40,000 by the end of 2018, stating that not only is this a bubble but that the bubble is going to get a lot bigger from here due to the global nature of this unique asset. Donald Trump’s tax plan cleared another hurdle yesterday and the bill is now set to hit the Senate floor for an official vote, possibly by Thursday.
The markets were very impressed with the Tax Plan update and disregarded the missile test. The EU and UK have cleared their own hurdle coming closer to a divorce settlement for Brexit.
Though it’s rise has not been as impressive as bitcoin, it’s protocol is better making it a more sustainable option for payments and an excellent addition to any alternative investment portfolio. As we watch BTC’s parabolic rise, one important thing to consider is the network’s ability to process transactions in a timely fashion.
At the time of this writing, there are approximately 50,000 unconfirmed transactions waiting to be processed on the bitcoin blockchain. Though 50,000 transactions is not incredibly large, given the current excitement around digital gold this number does have the potential to rise quite quickly.
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