The question I’ve been hearing from new people to whom I mention Bitcoin is “Can it still go up from here?” The answer is yes, definitely YES!!
Let’s start with some facts
Kraken as of Dec 15): Each of the past few days has produced 50,000 new account registrations and 10,000 new support tickets! Ten times more than last quarter! Number of simultaneous users, daily trades and volume are also making new all-time highs. They are struggling to keep up.
Coinbase added 300,000 new users over the Thanksgiving holiday week. The new additions brought Coinbase’s account total to 13.3 million exceeding the 10.6 million brokerage accounts at Charles Schwab! Over the course of the year they have added more than 5 times the number on their support staff and have seen the number of transactions increase during peak hours by over 40 times!!
Fidelity Investments is the fifth-largest asset management firm in the US with $2.3 TRILLION under management. It has just made an agreement with Coinbase to allow their 26 million individual investors access to Bitcoin. Not only that, but Fidelity allows its 40,000 employees to buy coffee or lunch in the company’s cafeteria with bitcoin and Fidelity has ongoing profitable Bitcoin and Ethereum mining! In fact, the CEO was quoted as saying that operation “is actually making a lot of money.”
To recap, HUGE numbers of new buyers are coming into the market at such a rate that the exchanges are having a hard time keeping up. Add to that the fact that very, very few people actually know how to buy bitcoin and you may agree with me that this market has a long way to run…a long, long way to run.
What most people don’t understand is …
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