Although I wanted my psychedelic post to be up a bit longer, I must interrupt the broadcast to point out that Bitcoin is continuing to go bananas. I am very glad not to have to hang my head in shame for dissing it. Late in November, I did an important post, Why Crypto is Better, and BTC is up 100% since then (!!!!!!) whereas gold hasn’t done dick.
Someone asked me on Twitter for a projection price. I fired up the old Fibonacci projection, thinking it might tell us but, ummm, it’s always been exceeded. Yikes.
Some of the alt-coins are getting excited. Dogecoin has roared about 76% in a matter of hours.
Of course, Ripple fans are probably furious. It’s just about the only crypto which is bombing these days, thanks to a massive scandal and SEC lawsuit. Keep in mind, out of hundreds and hundreds of alt-coins, XRP was one of the very biggest, and now it’s a total washout.
The whole crypto-craze is getting awfully mainstream. Even on Twitter’s “What’s Happening” panel, crypto has taken two of the five spots.
LATE BREAKING CHART ADDITION: just for the hell of it, I changed the anchor point of Bitcoin to the lowest price on the chart, leaving the other anchor at the December 2017 high. The projection is meshes better with present price levels. Of course, it could keep soaring to $40,000, but let’s see.
