Something HUGE Just Happened To Bitcoin, and No One Even Noticed . By Gregory Mannarino
There is a very interesting dynamic going on underneath everybody's noses, and very few people are even noticing.
Yesterday, under heavy volume the stock market plunged, with the Dow Jones industrial average falling over 370 points along with the dollar. However, Bitcoin surged higher.
With this tells me, is Bitcoin is now seen as a "safe haven asset." Let that sink in...
This is huge in my view, tremendous actually.
This chart below, is a one month history of Bitcoin, notice anything?
It is in a screaming uptrend, a trend which I believe beyond any shadow of any doubt is going to continue.
So what's the takeaway here?
The smart money is diversifying away from the dollar and into cryptocurrency,
Moreover, and this is absolutely HUGE, Bitcoin is now seen as a "safe haven" asset.
Gregory Mannarino
It was also one of the worst days I've ever experienced in actually trying to do transactions in bitcoin. I had one transfer that took at least 22 hours.
imagine 2042: it´ll look like this
Yep. I was looking at that chart yesterday when it had been like 18 hours and I still didn't have my money.
Makes me wonder if one of the Altcoins will eventually surpass Bitcoin because of this.
Totally agree with this line of thinking. Bitcoin was the first crypto with worldwide acceptance if you will, but I truly think STEEMIT and STEEM is prepared to take over as time passes. Keep posting and earning that STEEM and SD because I think we are headed towards a good chunk of profits here at STEEMIT.
I have this same thought as well, I am a newbie to Steemit and this type of workings and when I saw this blockage for transactions I thought Steemit based on the charts was far superior.
I think Pocket Change is the over-looked hard asset and safe haven... More in my Blogs... @pocketechange
Do you mind sharing whether or not you included a transaction fee in that transfer? I tried to clear out an old wallet, with very little in it (.003BTC), so I used the minimum transaction fee, and the mining network has not picked it up in 2 weeks. I fear that I may have orphan'd those units. Right now it is not that much, but a year from now that 3mBTC might be worth hundreds of dollars.
In the future, I recommend to anyone wanting to do the same as I did, to just extract the Private key out of the wallet you wish to close and import it into the new wallet that you wish to have the funds in. It looks like my sending this small amount to an online exchange is not going to work out.
Yeah instead of using exchanges I typically just transfer them into a wallet because once it is in the blockchain it's done so you can encrypt your password and make your backup wallet file and be good to go.
Yeah if bitpay says to send say 0.002 bitcoins and bittrex fee was 0.001 bitcoins then I'd send 0.003 bitcoins.
I can tell you that I thought bittrex fee was still 0.0002 like it used to be so I sent some transactions of with only a 0.0002 fee added and they eventually showed up on my bitpay they just took longer.
I've spoken to Poloniex before through their help department to see what happened to funds. They've usually responded as there shouldn't be anything hanging out there for 2 weeks like that.
Since im new i want to introduce myself.
I make weekly calls on silver every sunday. Please check out my blog, follow and comment with critisism, discuss my view etc. I hope you check it out since im new on this platform. I got here on recommendation of the great Gregory Mannarino.
If you follow me i always follow back.
Cheers
I had also bought some thru QuickBT and it took almost 12 hrs for it to be confirmed in the blockchain, i figured it was a huge volume of transactions happening, makes sense based on this article.
How do you yhink that it is seen as a safe asset? Not that i disagree, but what are the markers ?
Congratulations @marketreport!
Your post was mentioned in my hit parade in the following categories:
Hey Greg, First love your work. Never ever change my friend!
I noticed... I been watching and waiting for this as I made the call a couple days ago. See here...
https://steemit.com/bitcoin/@starsteem/bitcoin-just-shot-up-usd80-to-usd1-822-in-the-last-2-hours-usd2-100-next-just-my-thoughts
Upvoted and Resteemed!!!
Starsteem out
Silver be next?
Silver has been viewed as a "safe haven" asset for several years now with the expectation of the US dollar dump and collapse. As Greg has pointed out again and again, there is no legitimate price discovery for the asset. Whenever that happens then our perseverance for silver purchases will be realized.
Safe haven or not.....simple supply and demand will dictate silver......Keep stacking and the manipulation will evengually catch up to the big banks.
Manipulation can only go on until it can't.
Keep stacking.
i agree!
We can only hope :)
That's what i'm waiting for
The DXY is a huge HEAD AND SHOULDERS formation with projection to about 95 according to my pattern rules.
Since im new i want to introduce myself.
I make weekly calls on silver every sunday. Please check out my blog, follow and comment with critisism, discuss my view etc. I hope you check it out since im new on this platform. I got here on recommendation of the great Gregory Mannarino.
If you follow me i always follow back.
Cheers
for sure, but not yet.
My exact thought also... Come on silver.
Been waiting for many years, i will start stacking bitcoin and steem
I'm optimistic that we'll see Bitcoin at $10,000 or more by year's end. I don't know if you follow Clif High, but everything his data has shown regarding Bitcoin has materialized.
But his data on silver is not so
Not yet. But, it will be.
BTC surged today, it didn't do much yesterday. I've been watching cryptocurrency as an asset class to see if money is retreating there. BTC and the other crypto started going up today, with the US market. Although the rest of the world's markets continued to decline today, so maybe its money from outside the US which is retreating into cryptocurrency.
As much as I love cryptos, they still are competition to gold and silver and could theoreticaly be more attractive to the millenials (and even the zombified sheeples). The fact that they aren't manipulated and could be used on smart phones could mean they would steal a fraction of people's investment when seeking safety that would traditionaly go towards precious metals.
Let em sweat for crypto......ill keep sweating for tangibles. Hehehehheehehhehe
People are adopting it.. who needs approval of a private central bankster and government to tell us what we can accept as currency?!?!?
I wonder if bitcoin is seen as the future of money? It is global it is digital and it is now safe. A step toward their one world currency. We all need some to diversify. Thanks Greg.