2020-12-30 TheGuardian - Bitcoin surges to record $28,500

[acquafredda]

Bitcoin has continued its end-of-year Santa Claus rally, surging to a new high of more than $28,500.

The cryptocurrency gained more than 5% to hit $28,572 on Wednesday. It is up 47% since the start of December and is on track for its biggest monthly gain since May 2019.

Bitcoin has almost quadrupled in value this year as interest from institutional investors has grown.

As the US dollar has declined, bitcoin has become a more attractive investment amid concerns that huge government stimulus packages prompted by the coronavirus pandemic will fuel inflation. In the US, a bigger package could be passed once Joe Biden has replaced Donald Trump as president.

https://www.theguardian.com/technology/2020/dec/30/bitcoin-surges-record-28500-quadrupling-value-dollar

Every state-backed currency is crumbling against Bitcoin and MSM cannot stop talking about it.

[1714869342]

1714869342

[1714869342]

1714869342

[1714869342]

1714869342

[1714869342]

1714869342

[cr1776]

Bitcoin has continued its end-of-year Santa Claus rally, surging to a new high of more than $28,500.

The cryptocurrency gained more than 5% to hit $28,572 on Wednesday. It is up 47% since the start of December and is on track for its biggest monthly gain since May 2019.

Bitcoin has almost quadrupled in value this year as interest from institutional investors has grown.

As the US dollar has declined, bitcoin has become a more attractive investment amid concerns that huge government stimulus packages prompted by the coronavirus pandemic will fuel inflation. In the US, a bigger package could be passed once Joe Biden has replaced Donald Trump as president.

https://www.theguardian.com/technology/2020/dec/30/bitcoin-surges-record-28500-quadrupling-value-dollar

Every state-backed currency is crumbling against Bitcoin and MSM cannot stop talking about it.

I think you are right.

Will the statists join the train to protect themselves while trying to sell everyone else out?  Probably.

[acquafredda]

I cannot stop thinking how remarkable the bitcoin invention has been in the whole history of money. The whole concept is astonishing and after almost 12 years it is becoming increasingly clear where bitcoin is heading.
I do not have an answer to your specific question but that is would could happen.
Future is moving right before our eyes.

[IconFirm]

I guess we should thank all the Governments & Banks for printing so much money out of thin air 24/7 the last few months. Thanks to them devaluing fiat so dramatically we are now seeing the fruits of Bitcoins design shine through - it's doing exactly what it was designed to do & will continue to do so for the foreseeable future me thinks.

Keep those money printing machines on full power please chaps.

[acquafredda]

I guess we should thank all the Governments & Banks for printing so much money out of thin air 24/7 the last few months. Thanks to them devaluing fiat so dramatically we are now seeing the fruits of Bitcoins design shine through - it's doing exactly what it was designed to do & will continue to do so for the foreseeable future me thinks.

Keep those money printing machines on full power please chaps.

I could not agree more, Satoshi Nakamoto was a real genius! Never in the history of money something like this has been conceived and those who woke up early now are reaping the fruits.
I do not see Gov & banks stopping their money printing brrr anytime soon.
The real economy is craving for more cash.

[Lucius]

I could not agree more, Satoshi Nakamoto was a real genius! Never in the history of money something like this has been conceived and those who woke up early now are reaping the fruits.

Not only is it ingenious that he invented something so unique, but that he knew very well that at some point he had to disappear from the scene and thus allow his project to develop to what it is today. I may be wrong, but I don't know of any developer who invented a coin without trying to profit from it, even if it meant it would have a very negative impact on his project. Instead of one central figure pulling all the strings and making decisions, Satoshi has made tens, and probably hundreds of millions, of those whose voices can be heard at all times.

Although each article emphasizes price growth and profit, Bitcoin is still much more than that for those who value having the opportunity to be part of something unique.

[acquafredda]

I could not agree more, Satoshi Nakamoto was a real genius! Never in the history of money something like this has been conceived and those who woke up early now are reaping the fruits.

Not only is it ingenious that he invented something so unique, but that he knew very well that at some point he had to disappear from the scene and thus allow his project to develop to what it is today. I may be wrong, but I don't know of any developer who invented a coin without trying to profit from it, even if it meant it would have a very negative impact on his project. Instead of one central figure pulling all the strings and making decisions, Satoshi has made tens, and probably hundreds of millions, of those whose voices can be heard at all times.

Although each article emphasizes price growth and profit, Bitcoin is still much more than that for those who value having the opportunity to be part of something unique.

We are completely on the same page here, I agree with everything you said. I have always been fascinated by how satoshi decided to disappear eventually. I think I would have done the same avoiding any fame and recognition to live happily ever-after.

[LeGaulois]

Bitcoin is full of surprise, no doubt about that.
In November I posted in the 'Reputation' board that Bitcoin's price will probably be ~$9/10k . Now 2 months later it's at $29k  
It's certainly not something I was expecting for 2020, and I have no idea if this trend will continue but I know that what happened in Jan 2018 can happen again.  Don't forget too.

In 2020 Bitcoin got a lot of attention as a real alternative payment and asset. Whether it's from companies like Microstrategy or Paypal, from countries like Iran or Venezuela, or the retail interest against the dollar.
It shall continue for this year (but as mentioned earlier it's not likely to stop with their printing machine) otherwise the price won't continue this way.

Q3 2020: from $10,000 to $29,000
Just imagine if the trend continues for another 3 months period. It would be possible to see BTC hits the $50,000

[Lucius]

We are completely on the same page here, I agree with everything you said. I have always been fascinated by how satoshi decided to disappear eventually. I think I would have done the same avoiding any fame and recognition to live happily ever-after.

While we can’t know if the disappearance was pre-planned or something unexpected happened, the fact is that things wouldn’t have been the same if Satoshi had stayed present - and it’s certain that many bad guys would be looking for him, and he would have to hide to save his life. Whether he was alive or not is an indisputable fact that he didn’t take the opportunity and get rich on his project, although some still think there will be a 1 million BTC dump at some point - but it would surely be done by someone like Faketoshi (CW), thankfully the real Satoshi was a genius of honorable and honest intentions.

Q3 2020: from $10,000 to $29,000
Just imagine if the trend continues for another 3 months period. It would be possible to see BTC hits the $50,000

I don’t see why the trend wouldn’t continue, I actually think what we’ve seen in recent months is just the beginning. Some think that things will change with the weakening effects of the pandemic and that large investors will start investing in some traditional assets again. But we should not forget that we can expect the effects of halving this year, and too much BTC has disappeared from the market that it will not affect the price, especially if the investment trend continues. $50k is a very realistic price, although I wouldn’t dare say whether it will materialize in 3 or maybe 6 months.

[coolcoinz]

I have the feeling that Bitcoin is becoming stronger with every year and that I won't be surprised by a bear market this time. In 2018 I thought I was ready for 6k and we went lower which took me off guard. This time I don't even care. I could take another 2 years of bear market and I believe that most long time hodlers became more confident after all these years. It could be the reason for even stronger bull runs and less volatile corrections.
As I'm writing this we're experiencing a small pullback from 33k, but it's not going to be the end of this bull market, you can quote me on this.

[bryant.coleman]

LOL.. this article was published less than a week ago, and the Bitcoin prices have increased by another $6,000 (more than 20%). I am a member of this forum since 2012. But I have never seen such a crazy bull run ever in my life. I remember what happened in 2013, and again in 2017. Those bull runs look very mild when I compare them with the current rally.

[suzanne5223]

LOL.. this article was published less than a week ago, and the Bitcoin prices have increased by another $6,000 (more than 20%). I am a member of this forum since 2012. But I have never seen such a crazy bull run ever in my life. I remember what happened in 2013, and again in 2017. Those bull runs look very mild when I compare them with the current rally.

The crazy bullish is expected ever since the institutions and private companies which once sees Bitcoin as a bubble decided to invest in it as their Reserve Fund but I hope the investors are also wise to the level of understanding that the market corrections will also be bloody when it happen before so not to over celebrate the bullish market.

[acquafredda]

We are completely on the same page here, I agree with everything you said. I have always been fascinated by how satoshi decided to disappear eventually. I think I would have done the same avoiding any fame and recognition to live happily ever-after.

While we can’t know if the disappearance was pre-planned or something unexpected happened, the fact is that things wouldn’t have been the same if Satoshi had stayed present - and it’s certain that many bad guys would be looking for him, and he would have to hide to save his life. Whether he was alive or not is an indisputable fact that he didn’t take the opportunity and get rich on his project, although some still think there will be a 1 million BTC dump at some point - but it would surely be done by someone like Faketoshi (CW), thankfully the real Satoshi was a genius of honorable and honest intentions.

Yes, we do not know what may happen in the future. Somebody like satoshi could not afford to live normally today after what he was able to achieve. I will always be grateful to him as I said and I am happy nobody was ever able to get who he was.
He gave us a huge gift that now is in our hands.