F&G: 70

Price: $75,000 or £58,500

Hashrate: 719 EH/s

So it seems that the Donald has won the US election and as a result, Bitcoin hit a new all time high of over $75,000. Again, the outcome of this election did not matter in the grand scheme of things for Bitcoin. But it has provided a nice boost of morale to the holders and the market has clearly responded favourably.

Last night and in the early hours of this morning, Bitcoin ripped past the previous all time high of 73k which now places us in a period of price discovery. Being in price discovery is an exciting time because psychologically, there is no limit. There is no previous all time high by which traders and speculators can take into consideration. That old saying that ‘the sky is the limit’ is quite literally applicable here, and it sets the environment for an explosive bull market whereby we set a newer high and a higher low this cycle.

My personal prediction is that we hit $300,000 in 2024. Others predict a little less – AllianceBernstein predicted a $200,000 bitcoin by the end of 2025 regardless of the election outcome. Exciting times.

The simple fact is that Bitcoin was already making serious headway through the global economic and financial landscape after the approval and launch of the Bitcoin ETFs earlier this year. It is clear that momentum is building and that Bitcoin is going to sweep over the world.

But I do not want to speak to soon. The election has not been finalised just yet, and America in today’s state is a tinderbox waiting for a spark. I hope and pray that everything moves along as it should. The global stage is fraught with tension and neither I nor you should be wishing for further conflict. Bitcoin has the power to level the field and provide an avenue for competition that all nation states can get behind and compete in, without the need for war, destruction and death.

It’s the fairest game in town and it could put an end to a debt based system that only the few benefit from.

HODL on folks.

HODL on.