by Ken Carabello for JetPay

It's currently 10:10 pm here in Vietnam, which means it's 10:10 am in New York City. And the Stock market has been open for about 40 minutes. This week Bitcoin (BTC) rose above 18K for the first time since 2017. This has happened twice this week.

Tuesday 17 Nov, was the first 18K breach. While Wed 18 Nov saw Bitcoin retrace back to the low – mid 17,000 range. The sell of was most likely due to profit taking. After the long Crypto Winter that began in 2018 and has lasted until only about a month ago, it's understandable that may who had money tied up in the BTC asset wanted to lock in any gains they may have acquired in these past few weeks.

Still, today Bitcoin has risen back above 18K for the second time this week. And it remains there as I continue to type. Personally, I expect it to go much higher. And a well known BTC advocate and investor named Mike Novogratz has recently predicted that Bitcoin will hit $65,000 USD. When is not exactly certain. But I am optimistic that this could happen in the next twelve months.

The climate around Bitcoin has become quite bullish lately. Since many institutional investors are pouring in. Especially from the United States. And this enthusiasm from the Institutional community is likely to continue. As the US dollar, and equities continue to lose their attractiveness daily. Bitcoin has even surpassed gold as a store of value recently. And it is commonly referred to as “Digital Gold” these days.

There is also the crypto / blockchain dominance threat that China poses to the United States. This has made the United States issuance of a Central Bank Digital Currency (CBDC) at top priority among US Regulators. And since that currency will be a cryptocurrency that runs on a blockchain, Bitcoin (BTC) has once again become all the rage.

Lastly, I'd like to mention a very annoying conversation I had with two colleagues here in Vietnam, shortly after I arrived in 2017. It was probably around February of 2018 in fact, since Bitcoin had topped out and was way down when we had our little discussion. And to make matters worse, China had recently Banned crypto. So a domino effect of negative news was happening almost daily. So at the time, Bitcoin was back down to about 7,000 I think.

The part that got me really annoyed was the fact that neither of these guys knew the first thing about crypto. Yet, since the media was calling it a 'Bubble' (that had begun to burst), they were too. Well, take a look at this pic. I'll bet they ain't sayin' sh*t now! haha! Fools!

#btc #crypto #blockchain #payid #xrp #ken_carabello

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