Say and believe what you want, but Bitcoin continues to lead the way
Another month, another all time high for Bitcoin as it peaked around $65,000 a few hours ago. After finally breaking it's 2017 all time high just before Christmas, it has now set a new high in five consecutive months. While it hasn't been the parabolic move we've seen in the past, the fact remains that it keeps pushing higher, month after month, with no real end in sight. At least for the short-term. And while there continues to be talk about how Ethereum and Binance and other chains are eating into it's market dominance, the fact remains that Bitcoin is still worth more than the rest of the entire cryptosphere, combined.
Meanwhile, it keeps breaking down barriers and paving the way for the rest of the cryptosphere to grow as well. Bitcoin finally became part of an ETF launched in Canada a few weeks ago. It was also the first crypto to be put in the Grayscale Trust and traded on the OTC. There are now eight companies in line to start their own ETFs according to a Bloomberg article published earlier today. It is still the "base" currency by which every other crypto is measured and it will continue to hold that position for a long time, in my opinion.
Bitcoin is why there are institutions flocking into the crypto markets. It is why there are now daily crypto mentions on mainstream news outlets. It is the currency athletes and stars want to get paid in. It's the reason they just gave #coin an opening valuation of $86 Billion. It is why thousands of other cryptocurrency tokens have been launched. They may be created on the Ethereum chain, or Binance, or one of a handful of others, but they all have Bitcoin to thank. Where do you think all of this money came from? Bitcoin created it.
I am not a "maximalist", as I've said before. I firmly believe that there are many, many other cryptocurrencies that will thrive in the years ahead. But none of them are Bitcoin. There will be many 10x's and 100x's and even 1000x's that will be made in other places. But to me, there is only one "King", and I expect it to continue to rule the cryptoverse for many years to come.
There is still time. While you are out there trying to make triple-digit returns on alt coins, don't forget to add to the one that got us here. In my opinion, there is still a 20x plus ahead of us in the months and years ahead on the only real "blue chip" crypto in existence.
Stack those sats!
Thanks for reading. If you appreciate the content, please consider a comment and an upvote. I will happily reciprocate.
As always, I am NOT a financial advisor and this is NOT financial advice. Cryptocurrencies can and do go up and down and you could lose of your money. Do your own research.
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