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BTCwriter: The Road to 20K for Bitcoin While Altcoins and DeFi Recover

By Thomas Wolf | Thomas Wolf's Den | 7 Nov 2020


Back from the ashes yet again, Bitcoin is currently approaching the $16K mark while simultaneously, the DeFi and altcoin markets make a dramatic recovery - could the latest pumps indicate Bitcoin is near its highest value of all time?

“A question that sometimes drives me hazy — am I or are the others crazy?” ~Albert Einstein

Well, it has been an interesting few days, has it not?  As I suspected, the 2020 presidential election results seem to have played a role in influencing the crypto market; fortunately for the positive - very positive!  Bitcoin was flying high at $15,800 USD over the last 24-48 hours & it is now resting around $15,500 USD after nearly breaching $16K at $15,957 USD which sets a new marker for the second-highest Bitcoin price ever.

btccbp

Not only did Bitcoin make an impressive leap, Ethereum, and other altcoins followed suit while DeFi currencies such as Uniswap had their own pump - over 30% for UNI.  I am pleased to see the projected results show we have a new President of the USA who will take COVID and jobs in the clean sector seriously.  I believe that kind of leadership will have a tremendous impact on the growth of the cryptocurrency revolution as a whole.  I also find it likely with more and more going digital that corporate and government money is bound to splash over into crypto territory.

unicbp
UNI has pumped to $2.96 and holding at $2.87 since this snapshot yesterday.  Looking at over 35% gains+ for some people, over 20% for me.  I suspect a higher price point close to the middle of November.  There is talk of more UNI airdrops, as well.

I find it highly plausible that Bitcoin will breach its all-time high of $19,783, which occurred on January 1st of 2017; it broke the previous number two record without a sweat, and the market is behaving in a bullish and ridiculously unpredictable way.  It is challenging to spot a solid investment point right now, but one also does not want to get in when it is too late.  How much fruit will this tree bear?

I say next stop $20,000 USD.  It’s the next milestone.  It’s what we all want to see.  I don’t even care if it holds, but there is absolutely a chance this will happen in the next few days or weeks.  All it needs is one or two more solid pumps, three at the most - and we are in entirely new territory - tell me that is impossible and I will laugh it off.

On the flip side, we could see a stagnant market with a little margin for profit within flips, or we may see a backslide.  I don’t think we will see any significant backslide, but I would not be terribly surprised if we saw another period of inactivity.  It is incredibly odd to me when a volatile currency begins to behave similarly to a stablecoin, and this went on for quite a while before the recent pumps off and on.  It is a boring time in the markets if nothing else.

My input would be to believe in your crypto, HODL for progress as well as dear life.  Remember that we want to evolve and move away from primitive and enslaving currencies while empowering ourselves.  Thank you to everyone who made it out to vote either in person or by absentee ballot in the USA!

I am currently learning to write via a laptop while traveling.  I don’t favor long-distance relationships or wasting time in life, so it looks like I’ll be relocating to be with the person I love near the Chicago area in the suburbs; life is short, and love is random.  I am dying for my custom PC, and I always miss my dog, but my heart melts ten times a day.  I don’t see a reason not to love when the relationship fits for the most part - though there are logistical, financial, and personal challenges!

It appears one cannot control Bitcoin bull rushes any more than one can prevent falling in love.  Additionally, sometimes it’s the greatest thing ever, and sometimes it’s a boot to the face.  Luckily, I see nothing but 20K for Bitcoin without killing the altcoin or decentralized finance markets - and a loving future for me and mine.  I wish the same for you and yours, and I have no doubt our new president will help turn things around for the US economy - once votes are done being counted in his favor, of course - the power of progress is at work, I can feel it - a balance has to be restored.

Stay smart & stay safe.

Questions and comments are welcome!

-Thomas Wolf

P.S. Apologies for the low-resolution snapshot images.  I am in the Chicago area and currently writing from a laptop.


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