Bitcoin Pulls Back After Hitting $5000 USD – Why This Is A GOOD Thing!

Josh Sigurdson breaks down the latest news on Bitcoin as the cryptocurrency hits $5000 USD and immediately pulls back as people take profits. While the pullback may seem dramatic to many, especially since most people who have money in Bitcoin only got in this year and are not used to the fluctuations, this is perfectly natural and really a great sign of a healthy market.
While people claim in the media that Bitcoin is in a bubble (as they have since 2011), these frequent corrections are proof in the pudding that it is indeed NOT in a bubble. Bubbles wouldn’t take such frequent breathers.
In June, Bitcoin hit $3000 USD before pulling back all the way to $1800, climbing to $2500 and then heading off to $4400 at the beginning of August where it pulled back to $3900 and then climbed quickly to $5000 USD just a couple of days ago.
Now, this is a lesson in psychology as people sell off Bitcoin, basing it on arbitrary numbers like “5000”. It’s an imaginary fiat landmark and it’s pointless to sell off on such fantasy pinnacles, especially considering in other currencies of course $5000 USD is $6200 Canadian dollars. It’s nonsense but all the same, it provides a great opportunity to buy more.
At the 7 year average daily rate of growth, Bitcoin should hit $250k by 2020.
As the fiat empire comes crashing down, Bitcoin is a savior to those who diversify between cryptocurrency, gold, silver and other assets.
Investors have taken 30 billion dollars out of US stocks in the past ten weeks and it appears they’re putting it in gold, silver and Bitcoin as a stock crash is inevitable. There are now 50 cryptocurrency hedge funds as Bitcoin surpasses Netflix and PayPal in market cap and is coming up on Morgan Stanley which is truly a sign of the times we live in, where cryptocurrency which was once thought of as “geek money” is universally adopted at an enormous rate just since January alone.

The future is bright, but we have to educate people. Far too many people compare decentralized cryptocurrency demand to a centrally planned debt based, manipulated derivatives bubble. Far too many people blindly call Bitcoin fiat despite the whole point of fiat is to create vast amounts out of thin air without scarcity or demand and base it in debt.

With education comes the next renaissance and it WILL come.

Bitcoin will surely break through the ceiling once more in the coming weeks (likely on a Tuesday since traders are historically more bullish on Tuesdays than anything) very possibly. Considering that Wall Steet insiders saw Bitcoin hitting $4000 USD by year end and we’ve already far surpassed the forecast, we’re doing good. Even professional crypto traders saw it hitting $5000 USD by year end. Well by the looks of it, we’ll be seeing $7500-$10,000 by year end.

Stay tuned for more from WAM!

Video edited by Josh Sigurdson

Josh Sigurdson

Graphics by Bryan Foerster and Josh Sigurdson

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  • Rod Panhard

    If all the crpto pullbacks are being blamed on Chinas stance against ICO’s then why are they not pulling their money out of ICO’s and putting it into established safe cryptos like Bitcoin and Litecoin, their pullback seems unjustified using this as the reason.

  • royce davis

    Your voice is greatly appreciated and needed. I don’t understand why you don’t have more than a million viewers. But, because of you, those of the USA and Canada will be able to hold on to their freedom just a little while longer while battling nefarious, dangerous governments. If your audience grows, so too shall the freedom and wealth of all N. Americans. Thanks. Keep the wisdom and life-saving information coming.

  • Rumple Mosbey lll

    You’re a bullshit artist. Bitcoin will fall just like all the rest when the central bank puts out their own coin. Wake up

  • jer ros

    I saw a deal on them like a year and some months after the block chains first block was created , was 5 bucks usd for 1000 bitcoin, we’ll it cost me 7.30 cad now I have 10 left cause traded them all for chaturbate tokens, never thought I could have jerked away 50 mill in my life but I gotta say i proudly did! Who else can say they shot 50 mil into his special sock, gotta be some kind of record. Oh well money cums and goes

  • XimerTracks - NCS Music & Remixes

    @World Alternative Media. Heyy, Is this a re-upload haha? I think the vid sounds quiet, add some of my songs youtube com/XimerTracks

  • Maya Roque

    today your video didnt help at all because you didnt invest in bitcoin, what happened all this knowledge n you missed a chance

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