Following the 2017 Christmas holiday, we are now engaged in a different type of bubble. There seems to be a huge rush on a cryptocurrency that many rode off years ago when it was introduced to the world.
Bitcoin is at the point of hitting major marks that is driving a new gold rush.
From CNBC:
Cryptocurrency entrepreneur Julian Hosp says bitcoin’s rapid rise isn’t over yet. But there’s a catch.
“I think we’re going to see bitcoin hitting the $60,000 mark, but I also think we’re going to see bitcoin hitting the $5,000 mark,” said Hosp, co-founder and president of TenX, a firm that wants to make it easier for people to spend virtual currencies.
“The question is though, ‘Which one is it going to hit first?'” he said.
Numerous high-profile critics and several national governments have warned of the dangers of investing in cryptocurrencies, which they say are likely to crash because nothing underpins their value.
Hosp’s forecast would represent a $45,000 rally from the current price of bitcoin — or a $10,000 collapse, underscoring the volatility of the world’s largest cryptocurrency.
Leading Libertarian advocates like John McAfee are predicting even higher numbers:
Freedom is the future and capitalism will drive that force. Already we are seeing political candidates taking advantage of the future.
To the uninitiated, it doesn’t sound like much — 0.285 of a single bitcoin.
But with the cash value of the digital currency soaring, Missouri senatorial candidate Austin Petersen says the donation he received yesterday actually represents the largest single bitcoin donation in federal election history. In fact, converted to dollars, that small fraction is worth $4,500.
Petersen is a libertarian who is running as a Republican with the aim of taking down both the party’s establishment in the August primary and U.S. Senator Claire McCaskill (D-Missouri) in the general election in November.
