Updated at 10 AM CTZ below the initial post.

This morning Bitcoin spiked up from $9,570 USD to $10,200 USD.  This is a huge movement in the current market climate, given the COVID-19 pandemic and economies all over the world (primarily the US) are failing.

Currently the price is holding relatively well at $10,115 USD though I am seeing a large amount of resistance from the seller side which is influencing the mid-market price into somewhat of a choke.

I suspect someone will dump a large amount of tokens soon as Bitcoin is up quite a percentage (10-15%+ depending on how far back you look recently) for earlier investors who had yet to withdraw their funds.  Many are in the profit margin well over 10%, such as myself.


As you can see the green side (Seller side) is flowing hot with orders for cheaper Bitcoin while the buyer side is slowing down on paying for it.  This and who dumps and who holds should ultimately decide the new mid-market price.

Additionally, altcoins are (of course) correlating with Bitcoin.  XLM (Stellar) is shining as the one with the largest amount of growth at nearly 13%.  Many altcoins are doing wonderful because of this boost though, including Tezos and BAT - which are my other two favorites to hold, currently.

I have extremely high hopes for BAT and Tezos in the long-run and I believe there is a strong chance Stellar could have a similar level of exponential gain to what Bitcoin did 10 years ago.

One thing is for certain, this spike is great news for anyone but those looking to invest.  Altcoins have a unique appeal, I'm even stacking Ethereum for gas I don't even need because it's likely to be worth far more in the future.

Then again, there is still plenty of potential for investing.  I always advocate earning if you don't want to pay for crypto, it's a good way to stack $5 to $10 USD at a time and build it up into something substantial over time.

I've been waiting ever-so-patiently for this turn-around.  I am currently looking at over 25% gains after losing 30% gains a few months back when I paid off some credit cards, so I am feeling almost back to baseline - I believe it can hold, it depends on how much is dumped and how quickly.

My only question is:  Will Bitcoin hold $10,000+ now?

Update:  The answer is No.  Well, not this morning, anyway...  Bitcoin fell hard with some whale movement down to $9,300 and is currently holding at around $9,500:

I think this is the beginning of round #2 for Bitcoin.  I predicted and expected a dump, and the higher the dump the less likely we are to see repeats so close together.  This was a large one which I can only hope means the sellers sold, holders are holding, and buyers are buying.  This is the most split market I have seen yet with Bitcoin - literally a 50/50 buy and sell activity for market trades.

My hope is Bitcoin will continue the trend of shooting upward, and then falling downward some but still gaining ground.  We could be over $10,000 for good by the end of today if we keep up the fight.

What are your thoughts?  Is Bitcoin on its death rattle, or is this just the beginning?

-Thomas Wolf

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