bitcoin all time high

some pretty big things are going on in the crypto world and you DON'T want to miss out on these gains. check out the price of Bitcoin and find out what that means for the rest of the crypto space

Bitcoin just hit it's all time high of $66,999

and it's turning heads left and right. To give some perspective, exactly one month ago today on September 21st, Bitcoin was at a price of about $40K. This means that if you had put any money into Bitcoin around this time last month, it would be worth anywhere from about 30%-40% more today. Another way to look at this new ATH is in light of Bitcoins price just 1 year ago today. Around this time last year, 1 Bitcoin was worth about $10k-$12k. This means that in just 1 year Bitcoin has quintupled in price and gone up nearly 500%! (these numbers are loose representations of Bitcoin's prices throughout the year. To see more accurate and technical listings go here.)

why did this happen?

Besides the general mass integration towards a decentralized world of finance and interactive experiences in general, Bitcoin's ATH of nearly $67k followed the launch of the Proshares Bitcoin Strategy ETF on October 21st, 2021. An ETF is an exchange traded fund and that is basically a fund that can be traded on an exchange like a stock, meaning it can be bought and sold throughout the day. This all means that the richy rich rich people who can seriously affect Bitcoins price by investing thousands, hundreds of thousands, even millions into Bitcoin, now have more of an incentive to do so because they can now buy Bitcoin similar to buying futures and options in the stock market. It can sound super technical, but it is big news for anyone holding Bitcoin because, as we can see from the new ATH, this gives reason to believe that its price may continue to rise.

what does this mean?

Well, a few things.

1. We know that cryptocurrency can change and move in any direction at any given moment, but generally people have an idea of which direction a crypto, or specifically Bitcoin, will go based off of whether or not we are in a bull market or a bear market. A bull market is another way of noting a sustained uptrend of a stock, or in this case, a crypto. This implies optimism for the coin at hand and calls for rising market value that leads to ATHs being reached. A bear market is pretty much the exact opposite. This term is used when noting the decline of the price and implies pessimism for the market value. (more on bull markets vs bear markets in the near future). Given that we are just getting out of a bear market where we saw Bitcoin go from 60k to just under 30k, and that we are now climbing back to these numbers and hitting ATHs, one can assume that we are in or entering into a bull market that implies serious growth for Bitcoin and cryptocurrency as a whole.

2. Usually if Bitcoin goes up any alt coins at all related to Bitcoin or have any sustainability behind them are expected to go up. If anyone is looking to get short term gains through risky investments and looking to see more fluctuation than they might with Bitcoin, there is no shame in having some fun with money you have to lose in hopes that it 2x, 3x, or maybe even 5x. (Coins to consider include Cardano, Polygon, Polkadot, etc.) If, however, you are looking to assure yourself financial gains in the long term (months even years) then invest in Bitcoin and maybe even Ethereum ASAP.

3. With Bitcoin reaching its ATH this sets it's market cap at about $1.15 trillion dollars. Yes, trillion. This makes it the 6th most valuable asset the world and means that Bitcoin is now playing in the same field as huge names like Apple, Google, and Facebook.

You may be asking yourself

"Is it too late to buy in?" and the answer is certainly not. As previously stated, Bitcoin's price grew almost 500% in the matter of a year. With the integration process of moving us into #web3 and a #decentralized #metaverse just getting on its way, some say that Bitcoin is expected to reach numbers that move into 6 figures. For young people everywhere especially, if you are interested in furthering your future of financial independence, there is no better and easy way to start than investing in Bitcoin. Safe, simple, easy, and fun (especially compared to stocks. gosh. imagine being a stock bro.)

If you wish to start your journey into crypto and financial stability in your future, start with Coinbase. There are many other exchanges which have their pros and cons (which I will be sure to cover in future posts), but Coinbase has by far been the easiest and simple to use in my opinion..

Click this icon to join Coinbase and in doing so receive $10 worth of Bitcoin for FREE

For a more official reference of what #Bitcoin is then checkout the Bitcoin White Pages or better yet, check out the basics of bitcoin. I'll be taking a deeper dive into all kinds of stuff in my deeper dive into DeFi column. Check out other cryptocurrencies to #invest in on my other post about alt-coins.

*this is not financial advise and I am not a financial advisor by any means