Bitcoin Price Skyrockets And Is Now Up More Than 100% This Jubilee Year
Currencies / Bitcoin May 30, 2016 - 05:15 AM GMTBy: Jeff_Berwick
Bitcoin has risen more than 25% in the last week, from near $430 to a high over $545 today.
It has now risen more than 100% since last summer when we said it was a screaming buy.
In that time, it has been pronounced dead at least once and is now at a 20-month high.
We gave these three main reasons in the last year for why we thought it would go much higher:
1. Bitcoin and Blockchain are the Future of Money and Banking
Still to this day most other financial analysts either ignore bitcoin or, even stupider, deride it as being some sort of scam or ponzi scheme.
The dollar and government “services” like Social Security are scams and ponzi schemes… but bitcoin clearly is not. It is open source and so anyone who cares to look can see there is nothing nefarious about it. Therefore, anyone who says it is a scam or ponzi scheme is just showing willful ignorance as they could very easily look at it themselves and see it is not.
More than $1 billion was invested into bitcoin or blockchain related companies in 2015 from some of the biggest financial institutions in the world. They realize that bitcoin and the blockchain have changed the world of money and banking. They are just trying to keep up now.
Bitcoin is the biggest thing to be developed since the internet itself. And, in fact, blockchain related technologies, like The DAO, which just raised $132 million and became the biggest crowdfund in history, are creating the next generation of the internet itself… a more decentralized one.
2. Capital Control Crackdowns, Bank Bail-Ins and Worldwide Taxation Schemes to Drive Bitcoin Growth
We have been one of the biggest sites following the War on Cash, bank bail-ins and the move towards a one world taxation system.
We said that governments will continue to crack down on capital and its flow across borders. In the US, the Foreign Account Tax Compliance Act (FATCA) continues to cause massive problems for banks worldwide that often end up opting out of the US dollar system.
Bank bail-in clauses have now been written into law in every major Western country in advance of the next great crisis. And schemes like the Panama Papers are making it harder to operate in offshore jurisdictions.
We said that this will lead a lot of people to bitcoin which cannot be sequestered, controlled or regulated.
Speculation on the latest breakout on bitcoin has to do with demand from China, which continues to be subject to heavy capital controls.
3. The Coming Debt Jubilee Could Send Bitcoin Easily above $10,000… Maybe $100,000… Maybe More
Probably the biggest reason we will see bitcoin go exponential in the coming months and years is due to the coming debt jubilee. All Western governments are bankrupt and all Western banks are bankrupt.
As this comes to a head and we have a crisis that makes 2008 look like a wonderful time we will see currencies collapse, banks collapse and potentially the entire financial and monetary systems collapse. It’s actually all been planned as we have shown in our Shemitah and Jubilee video series (see here).
When that collapse happens there is no telling how high bitcoin will rise as people panic and try to salvage some of their wealth… but for most it will be too late.
THE BITCOIN HALVING
There is another reason why bitcoin could go up dramatically in the coming months that we have mentioned a few times in the past.
On July 18th of this year bitcoin undergoes a major event that only happens every four years called a “halving”.
Bitcoins are developed through the process of mining. Only 21 million bitcoins can be in existence at any one time. The value of mining is regulated in order to maintain this number. To prevent miners from surpassing this limit, the currency is designed to cut the value of mining in half every four years. It is as if the Federal Reserve slashed the amount of money-printing it does by half.
This could have a major impact on the overall value of the currency. If demand for bitcoin continues to grow while the number of coins that can be mined is drastically decreased, the value should naturally surge. That’s just the law of supply and demand.
No one knows how this will affect bitcoin because the last time it happened was in 2012, when bitcoin was near $12 and the currency was in its infancy. So, we can’t use the past to make predictions on the future.
But, the halving does have the potential, all on its own, to create a massive rise in the value of bitcoin. The best video I’ve seen explaining this and its potential can be seen here. I suggest you watch it to get a sense for just how massive the halving can be (and thereby profit from it).
CONCLUSION
No one else has been covering the cryptocurrency space like we have at The Dollar Vigilante.
We even featured ethereum, a new cryptocurrency, to subscribers in January. It has since risen more than 400%.
TDV’s Senior Analyst, Ed Bugos, is just putting out an alert to subscribers now on whether it is time to get back into gold stocks after the recent pullback and gives his technical analysis and insights on whether bitcoin is a sell here, or not.
And next week I’ll be telling subscribers about a new blockchain related company that is poised to take over Uber’s market share and giving them exclusive access to invest in the company at the seed level.
Subscribe to The Dollar Vigilante newsletter here before you miss out on even more big gains.
Anarcho-Capitalist. Libertarian. Freedom fighter against mankind’s two biggest enemies, the State and the Central Banks. Jeff Berwick is the founder of The Dollar Vigilante, CEO of TDV Media & Services and host of the popular video podcast, Anarchast. Jeff is a prominent speaker at many of the world’s freedom, investment and gold conferences as well as regularly in the media.
© 2016 Copyright Jeff Berwick - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.
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