Bitcoin rises 4.2% to $50,947.94

[webfact]

Bitcoin rises 4.2% to $50,947.94

 

FILE PHOTO: A collection of bitcoin (virtual currency) tokens are displayed in this picture illustration taken Dec. 8, 2017. REUTERS/Benoit Tessier/Illustration/File Photo

 

(Reuters) - Bitcoin rose 4.18 % to $50,947.94 on Sunday, adding $2,043.31 to its previous close.

 

Bitcoin, the world's biggest and best-known cryptocurrency, is up 83.7% from the year's low of $27,734 on Jan. 4. The currency's peak this year was $58,354.14 on Feb. 21.

 

(Reporting by Ismail Shakil in Bengaluru; Editing by David Goodman)

 

-- © Copyright Reuters 2021-03-08

 

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[Dazinoz]

As someone said before why report a small rise? BTC and all crypto are so volatile 4% is nothing. Report a 40% rise or fall.

 

Having said that $50k is a resistance post so it has broken that.

[ThailandRyan]

Yup, and more banking institutions are becoming involved as well.  Visa is leading the charge as far as credit cards.

[jesimps]

6 hours ago, Dazinoz said:

As someone said before why report a small rise? BTC and all crypto are so volatile 4% is nothing. Report a 40% rise or fall.

 

Having said that $50k is a resistance post so it has broken that.

Just testing the 50k resistance, as it has on several occasions. You can't say it's broken it until it consolodates above it. I haven't traded for a few days now and won't until I'm convinced of its direction.

[ukrules]

6 hours ago, Dazinoz said:

Having said that $50k is a resistance post so it has broken that

again......

[mvdf]

Sounds good. Looks like my Trezor piggy bank will one day suffice for that property and citizenship in the Seychelles. 

 

Keep those numbers growing.

[Andrew65]

9 hours ago, Dazinoz said:

As someone said before why report a small rise? BTC and all crypto are so volatile 4% is nothing. Report a 40% rise or fall.

 

Having said that $50k is a resistance post so it has broken that.

In the last month it dropped from $58,000 to about $47,000 in the space of a few weeks. Too volatile, especially for small or inexperienced investors.

[ThailandRyan]

3 minutes ago, Andrew65 said:

In the last month it dropped from $58,000 to about $47,000 in the space of a few weeks. Too volatile, especially for small or inexperienced investors.

HODL and ride the waves

[fangless]

I will laugh my socks off when this century's South Sea Bubble goes tulip up!

[ThailandRyan]

22 minutes ago, fangless said:

I will laugh my socks off when this century's South Sea Bubble goes tulip up!

Dream a little dream and wish upon a star.  Should it go pear shaped it will take banks, CC companies, and even a few countries with it, but I doubt we will ever see that happen.  Incorporating BC technology and the coins therein are here to stay, at least for the main players in the game.  Time to buy stock in a few of the exchanges as they become listed as well.

Edited March 8, 2021 by ThailandRyan

[Heng]

On 3/8/2021 at 5:32 PM, fangless said:

I will laugh my socks off when this century's South Sea Bubble goes tulip up!

And anyone who's been in the game for awhile will be about as sad (more likely laughing) as Mark Cuban when he looks at the price of Yahoo shares (if he even notices). 

[Heng]

Oops.  Was going to check the share price just for fun, must have missed the news blip that it was acquired by Verizon 4 years ago.   (at less than the price that Yahoo paid Cuban for Broadcast.com)   

 

[Heng]

Just a couple hundred shy of $60k now. 

[ThailandRyan]

5 minutes ago, Heng said:

Just a couple hundred shy of $60k now. 

[bkk6060]

Headed well over 100k sometime this year I bet.  Actually saw a bar on Soi 6 yesterday with a machine set up that takes Bitcoin.  Going more and more mainstream, more and more institutional investors making commitments.  

[ThailandRyan]

Just surpassed 60k

https://www.cnbc.com/amp/2021/03/13/bitcoin-surpasses-60000-in-record-high-as-rally-accelerates-.html

[bkk6060]

A total scam would not produce this over a decade:

Say you got into the game when a bitcoin was 10 cents, around October 2010. If you invested $100, you’d have been able to buy about 1,000 bitcoins.

At its all-time high Thursday, those 1,000 bitcoins would’ve been worth more than $48 million, not accounting for compounding and assuming you bought and held the asset the entire time.

The above report was when it was at about $50,000.  I still believe one can become a millionaire in possibly 10 years if they buy it now. Or you can buy portions such as 1/10th of a coin, whatever you can afford if one is afraid they may lose.

We shall see, I have 2 coins may buy more at the dips and will hold out until I die.