Bitcoin’s Ascent to $40,000
Bitcoin is officially the biggest bubble in the history of the world. But the mania is far from over!
In the last month, the cryptocurrency’s rally propelled prices high enough to supersede the price increase of the infamous Dutch tulip’s climb from 1634 to 1637.
As former Bridgewater analysts Howard Wang and Robert Wu say, “[Bitcoin’s] price has now gone up over 17 times this year [and] 64 times over the last three years.”
And despite this staggering ascent, Wall Street’s appetite for cryptos is just ramping up.
Consider: Hedge fund legend Mike Novogratz is preparing to deploy hundreds of millions of dollars in fresh capital into the space.
“Bitcoin could be at $40,000 at the end of 2018. It easily could,” said Novogratz.
Against this backdrop, most investors are sitting on the sidelines, fighting an internal battle. They’re questioning whether bitcoin has gotten too expensive but simultaneously worrying that they’re missing out on the trend.
Don’t fall into this trap. Instead, you need to act. The next leg higher for bitcoin could be driven by Amazon.com.
According to my colleague James Altucher, the e-commerce giant is set to release $1.91 trillion in new crypto wealth. And it could begin in as little as 47 days.
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