Cryptocurrencies have yet again risen from the dead. Hallelujah!
I really shouldn’t be praising God for this though… this literally happens every few months almost like clockwork.
But, over the past two days since the most recent crypto-bloodbath, bitcoin and the altcoins have seen a major resurgence.
Bitcoin has risen $130 in the last 7 hours
And with Bitcoin Cash rising significantly, Bitcoin and Bitcoin Cash are yet again well above $5,000 and near all-time highs.
Other cryptos have also skyrocketed, like steem which has risen over 10% in the past two days
The total market capitalization of all cryptos has also risen roughly 16% from its lows on September 5th to just over $159 billion now.
But, as always, the momentary drop in prices was viewed as an opportunity to bash bitcoin and all the “I told ya so’s” came out of the woodwork… and have been silent again since the rebound.
One example being that of John Lohr’s, a writer for seekingalpha.com
They have been speculation vehicles that have drawn in people hypnotized by the out of this world run up in prices: $270 to $4700 in 8 months. Too good to be true. Sheep lured by the “Don’t miss out on this” psychology have bought, and bought and bought…
Every few days there is a new, but similar claim made about bitcoin. Luckily for your viewing pleasure they are all compiled on https://99bitcoins.com/bitcoinobituaries/ for you.
If this website isn’t proof that bitcoin is immortal, then we don’t know what is. It has been resurrected from the grave over 156 times!
And, I hate to keep embarrassing Peter Schill… ahem… Schiff publicly, but he actually does it all on its own. All I need to do is just point at it.
Just before the most recent massive rebound, Schiff posted this, effectively questioning if cryptocurrencies had just died.
No, this is not the beginning of the end, Peter. There is no “end”. The only possible end is if the globalist elites turn off the power and the internet worldwide. And if that happens then we hope people listened to my speech from 2013, “Bitcoin, Bullion & Bullets” and have a sufficient amount of the latter two.
Cryptocurrencies are an evolution in money and banking. They aren’t going away. People like Peter Schiff are the equivalent of buggy whip salesmen trying to talk down these new fangled, horseless carriages that Henry Ford is scamming people with.
Sure, the cryptocurrency space, in general, could very well be in a bubble. I’ve said as much in the last month and advised TDV subscribers (subscribe here to get access to all my analysis and recommendations) to lighten up and even move some profits into gold and silver. I’m actually doing that myself.
But, bitcoin is the least “bubbly” of the cryptocurrencies, in my opinion. It has had tremendous growth in demand in the last year and its price is rising commensurately.
Can the cryptocurrencies drop substantially… likely during a massive 2008 style liquidity event? Yes, absolutely. We’ve told subscribers to prepare for just that. But will they go away like the “beanie babies” that Peter Schiff says they are?
Hell no.
I am currently writing this from 35,000 feet on my way to Philadelphia to serenade Janet Yellen on the steps of the Federal Reserve with my love song, “Bitcoin All The Way Up.”
But in the next few days I’ll do a response to people like Chris Duane and CIA asset, Jim Rickards, who have also been working to try to stop cryptocurrencies from spreading and destroying the central banking system.
They won’t stop it. They can’t stop it. And I’ll tell you why in the next few days.
Oh, and both Peter Schiff and I will be at the Nexus conference in Aspen, Colorado from September 21-23.
And I hereby publicly challenge Peter Schiff to a debate on bitcoin.
Let’s see if he accepts the challenge.
Peter does not know what he is talking about... the potential for Bitcoins to grow more in value is there and it just needs time. It was $1 in 2011 and now $4K in 2017, if thats not successful in Bitcoins, then I dunno what it is :P
I made a post about many people freaking out when the crypto market plummets, here are my thoughts on it, you may find it useful: https://steemit.com/cryptocurrency/@denoxblogger/cryptocurrencies-dropping-heavily-in-price-worry-no-hold-them-bitcoins-and-litecoins
peter schiff is a clown
no, I've never seen him as a clown.
I think NEO has bottomed ! Check out my piece on it https://steemit.com/neo/@tornadojoe/why-i-stopped-myself-from-dumping-neo
Blockchain is going to revolutionise lots of industries, but picking winners is notoriously difficult.
My suggestion would be to get into a portfolios of crypto, this is now relatively easy (with wallet like exodus (my favourite) and Jaxx), creates an interesting "dividend-like effect" and hedges the idiosyncratic risk of ending up on the wrong horse...
Cryptocurriences are the next big thing after internet💪💪💪
Not only Cryptocurrencies, the Web 3.0 will come with all forces. Smart-contracts, privacy related cryptocurrencies, stable cryptocurrencies, could help people so much. The future is bright.
Web 3.0
Genius.. that's exactly what it is.
4.0 is VR websites :P
Yeah, I don`t think they will be called websites anymore. Rather Webplaces or something similar :)
Cryptocurrencies and blockchain technology in general are the way of the future. I see how platforms like Steem, Dtube and Opus will take over industry leaders since they are ad free, uncensored, and pay much better than any other alternative.
Wow, I didn`t heard about opus. Sounds like a ujo music competitor. What I really like about steemit is that you always create a better version of steemit.com like busy.org. I cannot wait for a steemit twitter clone.
I totally agree, It's hard to stop cryptocurrency now
And all the tech they bring with them. I can't claim to understand much of it, but it sounds exciting as hell.
used to up and down.
good news
Ready for the next spike up? :P
It looks like the spike up did already happend, I am preparing for the next dip.
good luck ;)
awesome
Oh when will we win Peter over?!
All things too good to be true, are exactly that until its too late and its VERY TRUE and then people miss the boat. No one ever got rich or secure in a "solid bet".
Like nowadays every drop is followed by more powerful spike some day it might reverse and every spike might be followed by more powerful drop...
Keep us in suspense Jeff, you genius.
Very good idea bro.best of luck.go ahead.
Good post...
Bitcoin has a unique trend that has become very evident. While it rises and falls like other assets sometimes by large amounts, it has followed a clear path that over time both the highs and lows keep on rising, leading to a continued price increase. Many people (read non-crypto people) take note of how Bitcoin has harsh falls and use this to argue against its usefulness as value. Each time they do that though I point out how the gains outpace the losses in every occurrence so far. The media is quite biased against the cryptocurrency cause and for that reason I am very glad to have Jeff and many other creators here spreading the truth about the crypto-space. Keep up the good work and good luck against Peter Schiff.
my neo goes down
it is probably because China banned all ICO´s in China. Did you hear about it in the past days ?
I hope you are buying in on those dips ;)
Your right its like clock work.. just watch for a big news announcement, or if SOMETHING happens in China haha..
Although.. just a guess here - half of these "investors" are 15 years old.
Easily manipulated.. when compared to seasoned traders.
Plus, sometimes good news are being overlooked and rumours take over, or chaotic news, this is pretty nice https://cointelegraph.com/news/welcome-to-canada-bitcoin-regulators-approve-first-bitcoin-fund-manager
Great post and thanks for sharing
Awesome post!!! I honestly don't think Bitcoin is going anywhere... The blockchain is amazing code....
Just sent this to my friend.. been telling him a while lol..
I thought this would include some comments on the recent rise in gold. This one persistent, not in saw form. Modest but persistent. Other than the Bitcoin, Bullion and Bullets punch-line, I mean. The punch-line is great, I can grant you that.
If you want Schiff to debate you, you should stop insulting him. I think he is honest and bright. He is wrong in this one, all right. But he has been, and is , right in other ones.
Oh come on Peter! lol I hope crptos never drop substantially. Enjoy your flight!
I think most people saw this coming as it has happened lots before.
Your the shit Jeff.
It is very difficult to adopt something that is new. I enjoy reading people's post that are against crypto because I like rooting for the reason behind why they think the way they do. Normally they are selling a book relating to the bubble they are in. When you are telling people that crypto and blockchain are here to stay, they do hear you and understand but it is all about adoption. Just my opinion.
I'm new to crypto, but not new to Peter Shiff. Normally he is on the money. I'm finding a lot of the now "old timers" are seemingly stuck. They complain about fiat on one hand, then they complain about cryptos on the other. I do find it odd when the libertarian types don't support crypto currencies - that would be one of the best ways to combat the shortcomings of the fiat they complain so much about. Great Post. Sharing this for sure. 👍🏾
Old men don't want to change.. its just the way it is.
The big companies are run by old men.
The music industry is a good example.. they spent millions trying to stop online piracy.
If they were still young and willing to learn and adapt.. they would have jumped into online media distribution immediately.
But as always.. the grey beards just try to hang on to what they have. Always have, always will.
yes you are absolutely right dear, cryptocurrncy brought a great change in human being.
The further peter schiff keeps on going with his non sense about cryptos the less serious people will take him in the future about anything.
Good post. Voted. Resteemed. Please do vote my content if you like and if its worth a vote. Thank you.
I love the dips...time to buy$$$.
I really need to learn to get some money out of crypto before the crash happens. Most of the time I cannot even buy because I am all into crypto :P
"And I hereby publicly challenge Peter Schiff to a debate on bitcoin."
YAAAAAAAAAAAAAAS!!
Max Keiser said he was suppose to debate him on his last Show. I love Jeff but Max being a Comedian and as sharpe as he is. WIll destroy him.
absolute observation. keep observing in order to get good rewards.
Great information there @dollarvigilante. I think bitcoin and other cryptocurrency will continue to rise eventually. We'll just have to be ready for it :)
Wonderful Post
Great post
Thanks!!!
I don't understand why they can show the image of the huge bubble, and return to normal and call it a "crash". I'm pretty sure "crash" just implies that it was going along happily maybe slowly upwards then suddenly lost a ton of value for no reason. But this doesn't pay attention to the fact that most of this "value" was also gained in about the same amount of time as it took the "crash" to occur.
The recent crypto-bloodbath, as you called it, had not only to do with the regulations in China, but also with some famous American blonde princess.
Read what I mean here:
How Paris Hilton nearly destroyed the cryptocurrency market!
P.S.: Of course this post is 100% serious!
P.S.2.0.: I don't think BTC is way bubbly. Like you hinted at, many ICOs may be way overvalued. However BTC grew relatively small in comparison!
The story repeats every time a new entrant joins the market. Some see it as an opportunity, adapt and develop a new offer. Others just try to keep things as they are and start talking badly about it when they start to see there is no way they can stop it.
Luckely, progress does not stop just because of the later ones.
Cryptocurrency has come to stay like you rightly said @dollarvigilante but what baffles me is the high rate of ignorance that emanate from our elite. It makes me to wounded if some people cannot simply go to any search engine on their laptop and make a research on it? Am surprise honestly speaking.
Cryptocurriences are the next step to . change the world
You should! nothing is granted.
I hope everybody bought the dip a few days ago :D
Thank you China LOL!!
See you all on the MOON :)
Keep Calm and HODL!
bitcoin some time make me confused and also some people have prolame same to me , @dollarvigilante thanks for share us on this and please voted me @abdikadir
Dont think btc can be briddled down in anyway. But its good to see it alive and roaring to go.
Like any new technology bitcoin has it's ups and downs because of speculation but it offers so much value as a decentralized currency and payment system that nothing will stop it's popularity. The block chain will be adopted on a mass scale!
@dollarvigilante
we are in a crazy period.
everyone is very excited
@geemo-from-paris
Todo se va a normalizar pronto
how will we win peter schiff
We wont, he's a schill
Good info