Right now is a good time to open your messenger app on your phone, select all the people who said "Bitcoin? It's worthless," Create a group chat, and just post a little smiley face.
And if anyone happens to have Warren Buffet on WhatsApp, please send me the screen shot.
I had planned to theme the 'We broke $20,000' report on the famous 1981 Norway vs England "Your boys took one hell of a beating" commentary, only I've gone through the list and it seems Nouriel Roubini, Stanley Druckenmiller, Larry Fink, Niall Ferguson, Jim Cramer, Dan Schulman and Ray Dalio have all recently changed their minds on the merits of Bitcoin. Nothing like arriving to a party when its in full swing.
Satoshi Nakamoto, where ever he or she may be, is currently the 74th richest person on the planet. Not bad for someone who invented what Nouriel Roubini once described as "No better than an excel spreadsheet." One would hope they're alive to see this moment, and of course, in no rush to sell!
So where to next?
Bitcoin has finally blasted up through the $20,000 level! Today, after failing to break resistance for much of the trading session, the bulls grabbed BTC by the horns and drove prices into the promised land.
For the moment, we also have our first resistance level with a 20 handle. $20,822 was the first point at which sellers stopped the bullish momentum. Whether this level will become relevant remains to be seen, but for now, it's all we have! Big numbers, ie: $21,000, $21,500, $22,000, are likely to be the only areas that sellers arrive if this rally continues.
On the downside, none of us bought enough Bitcoin.
It looks like crypto isn’t correlated to traditional markets, at least not during this past session.
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