Today, Oct. 20, 2021, is an exciting day.
Bitcoin hit another all-time high (ATH), surpassing its previous ATH of $64,889 (from April 2021) – and exceeding $66,000!
This is just the latest ATH for Bitcoin – and it won’t be its last – but today’s high is an interesting new record because this comes just one day after the first U.S. Bitcoin exchange-traded fund (ETF) launched.
This new ETF, ProShares Bitcoin Strategy ETF, tracks Bitcoin futures contracts speculating on the future price of the cryptocurrency.
But isn’t it odd that after 8 years of rejecting proposed ETFs that the SEC finally allowed one to launch? Mind you, not one that many of us would have preferred, but a Bitcoin ETF none the less.
But is this latest rally and record really the result of this ETF launching yesterday?
The timing is interesting; why now after all this time did one finally get approved? Why this type of ETF?
Bitcoin was having a pretty good year before this happened. Already, YTD, bitcoin is up 456%! That’s quite amazing and we have 2 ½ months left in 2021.
Lots of big news in 2021. Yesterday’s being no exception. But most of us know that there’s more big news to come – and more record-breaking days or ATHs.
Many are predicting that Bitcoin will hit $100K this year. Bitcoin Ben, in fact, is saying he believes that Bitcoin will hit $100K before Thanksgiving 2021.
So…what do you tell your friends who are still NOT invested in Bitcoin?
- Is it too late to get invested? No.
- Should I wait for the next dip? You might be waiting a while. No.
Be a good friend. Help your friend get in NOW!
Some advice that Bitcoin Ben shared includes:
- Buy Bitcoin!
- Buy as much as your budget allows as often as you can.
- Use different exchanges.
- If you are purchasing more than $2K in Bitcoin, contact Caleb & Brown.
- Otherwise, use one of the following:
- Cash App
- Bakkt
- Coinbase
- Exodus
- PayPal (including also Venmo)
- Use a crypto only laptop!
- Calix Solutions offers crypto laptops, but you can do this on your own, too. Just have a laptop that is ONLY for your cryptocurrency purchasing and management. We have already seen and heard about increases in hacking. Don’t be their next victim.
With Bitcoin’s increasing scarcity, it will likely fuel a continued rise in price. And don’t be surprised if you’re unable to purchase Bitcoin off your favorite exchange. Get familiar with other ones now.
Bitcoin’s market cap is now $1.223 trillion and is the 6th most valuable asset in the world.
We are in the midst of exciting times, folks, but be ready, be smart, be flexible – and be ready to help your friends and family who didn’t listen to you in the past, but are eager, no desperate, to get involved now.
Strap in folks, we are in fact, heading to the moon.
References/Related Articles:
- Bitcoin.com: https://news.bitcoin.com/bitcoin-smashes-through-all-time-high-surpassing-66000-per-unit/
- Cointelegraph: https://cointelegraph.com/news/all-time-high-weekly-close-5-things-to-watch-in-bitcoin-this-week (Good quote: “Historically, he noted, decreasing supply combined with more of that supply staying in the hands of hodlers with no plans to sell creates a powerful bull signal.”)
- Barrons: https://www.barrons.com/articles/bitcoin-price-all-time-high-51634737729?tesla=y
- CNBC: https://www.cnbc.com/2021/10/20/bitcoin-jumps-to-new-record-high-above-65000-after-landmark-us-etf-launch.html
- CoinDesk: https://www.coindesk.com/markets/2021/10/20/bitcoin-hits-new-all-time-high-above-65k-as-etf-goes-live/
- Interview with Bitcoin Ben on October, 19, 2021
This article was published on October 20, 2021, on Bitcoin Ben’s website (http://bitcoinben.io).
Kelly Wisness-Semchee has spent 20+ years in marketing and communications for various companies. She holds a bachelor’s degree in Public Relations and an MBA. Kelly has been married to “Bitcoin Ben” for 12 years. They reside with their fur babies “Litecoin” Little and Lacie and daughter Alexa in the St. Louis area. Learn more at https://www.linkedin.com/in/kwisness/.
Copyright © 2021 by Kelly Wisness-Semchee