You need to understand that it’s not often that I feel the sudden need to dust off the ol’ keyboard and bash out a blog post on a Sunday – I hardly ever write on Sundays.
You need to understand that I am entertaining guests who are visiting me from 1000 miles away (literally), that I’m looking after an injured wife and that my internet connection is “unreliable” at best – yet I’m still choosing to spend my time writing this post.
You need to understand the significance of what is happening.
You need to know that my altcoin portfolio is making constant gains on BTC for the first time in two years.
You need to realise that a sustained 24-hour BTC volume of over $70 Billion (CoinGecko.com data) has us entering territory which is literally uncharted.
You need to notice that that volume is 15 times greater than BTC volume was at the peak of the 2018 bull run ( where price was twice what it is now).
You need to realise the implications of that: how much latent buying power sits dormant. Power which has never been released before. Power which can send BTC to amazing new heights.
You need to understand that nobody knows what this power will do, what its effects will be and just how hard and for how long it will kick.
You need to understand that the $7000 to $10000 rise we’ve seen in 2020 so far is NOTHING, a pebble on a mountain.
You need to understand that $10000 is a serious psychological resistance level. It’s not just another $1000 mark, it’s the jump from four digits to five.
You need to know that the permanently superstitious and FUD-prone market would not break this mark without serious momentum and buying pressure.
You need to know that the momentum and buying pressure we have seen thus far is only the tip of the iceberg…
You also need to know that it’s probably still too early for a proper bull run, which means that an imminent dip is likely – though not necessary.
You need to know that the long-term game is the important tournament, but that the short-term game can have some very exciting matches!
You need to understand that the world is in turmoil: that a single virus is making billions panic, that economies are held together with shoestrings and promises, that economic bloks are breaking down, that political systems are failing, that war is only ever one bad decision away and that fiat currencies are being revealed as the thieving ponzi scams which they actually are.
You need to know that in light of the above, Bitcoin – and indeed cryptocurrencies in general – have become a de facto store of value, Digital Gold in every sense of the term.
You need to know that short-term decisions are not your friend: that you should take a deep breath, calmly make a plan, and do what you need to do to acquire assets which will be useful in the world of the future.
You need to realise that the financial advisers of today often shy away from crypto assets and look down their noses at them. You need to realise that great advice can be found in far unlikelier places, but that it is your responsibility to discern the good from the bad.
You need to understand that we are going through a period of flux – and that this is only the beginning of it. You need to understand that the inevitable dips along the road won’t have any effect on us reaching our destination.
You need to prepare.
On its own, $10000 Bitcoin means little. It’s just another number, a candle on a chart, a squiggle line on a screen. We’ve been to $10k before – a few times. But seen in the context of the greater geopolitical environment and the global financial market, mark my words: this milestone marks the beginning of something special.
For a long time I’ve been waiting for the new crypto dawn, the rise from the ashes and the start of mass crypto adoption. I’ve just spotted the Sun appearing over the 10k horizon…
Yours in crypto
“The secret to success: find out where people are going and get there first”
~ Mark Twain
“Crypto does not require institutional investment to succeed; institutions require crypto investments to remain successful”
~ Bit Brain