On the Recent Bitcoin Price Surge
Bitcoin Price Surges
It has been no secret that in the most recent weeks the price of Bitcoin has surged tremendously from the mid to low 400 USD level to the high 500s up to the 600s per coin (USD). This surge happened in a matter of days after the price was sitting in the 400s for seemingly months. Now as of this writing it has surged to the high 600s and even hitting the 700s for a brief period of time. I’d like to touch on the strategy of speculation not so much about the catalysts and factors moving the price in the recent uptrend. Bitcoin is now trading in the middle to high 600s.
Blockchain Technology Powers Bitcoin
Our core interest is in the emerging technology of Bitcoin. We’ve been journaling our discoveries and journeys in the world of alt coin/bitcoin through this website publicly. The other end of our interest is through directly owning Bitcoin and using it through a various channels.
Bitcoin Price Continues to be Volatile
The price of Bitcoin has seen a Rollercoaster of prices throughout the past few years. Debuting as low as pennies per a bitcoin to peaking in the low thousands for a single BTC. Hindsight provides a soothsayer clarity. If you had a crystal ball and loaded the boat when a single BTC were only a few cents and sold at the exact point where it was a thousand US dollars for one you would walk away with untold fortune. Of course noone has a price crystal ball for Bitcoin or other sorts of commodities that trade daily (that I’m a aware of). The past few weeks have seen a massive fluctuation in the price per Bitcoin after a relatively long period of relative stability. The exact catalysts of Bitcoins recent uptick is debatable.
Moving Forward Looking to the Future of Bitcoin
The heart of our strategy has been to accumulate Bitcoin depending on our liquidity and slowly buy more over time. Where the ride will take us in years to come cannot be predicted with certainty. We will continue to accumulate Bitcoin as we see fit until information tells us to do otherwise. The take away is that predicting day to day price movements is almost an impossible task for the average person. We believe in the core technology powering Bitcoin which is why we have decided to take a net long position for the time being with current available information. Where Bitcoin is tomorrow, the day after that, or next month is not something we can accurately guess. We do however believe the blockchain and the underlying technology powering Bitcoin is undervalued and we believe it should be worth more in the years to come and that’s why we are buyers of Bitcoin today.