This is extraordinary, can hardly wait to see steem go up and up, I have all my crypto fortune in steem

The price is rising because everyone wants to hold BTC for the BTC-Gold hard fork (is it on Oct. 26th?). Money is moving out of Alt-Coins and into BTC. There's also an upcoming Ethereum hard-fork so....  Interesting times we live in.

Things always settle back down. I think that in general, going forward, crypto markets will settle down a bit. However, volatility will remain high in this space for quite some time to come. As the new money becomes more widely adopted, it should help to make things slightly more steady. For now, there are good deals on Alt-Coins out there. Things like Lite-Coin, BitShares, even Steemit are basically "on sale."

I expect to see BTC continue to hit higher highs, and higher lows. If the next low remains above $3500, that's a very bullish sign. I don't expect to see anything else.

Up voted and resteemed.

it seems like BTC will touch $10000 soon.

Hope steem increase too :)

Good summary, @zeartul. Upvoted and resteemed!

I think the big story here is that, despite draconian regulations announced from both China and Russia, BTC has continued its upward price momentum. So much for the monetary Luddites who proclaimed that "banning Bitcoin" would be its death. 

We'll likely correct downward off these new all-time highs, as you note, but it's good to know that the classic double-top formation has been averted. That should spell a less steep correction for BTC, but we shall see.

The only thing that sucks is that alts are being left in bitcoins dust

On the one hand, we have a general recovery on the crypto markets. The bad news from China and other countries has now been digested and one looks much more optimistically on the crypto market than a month ago when panic dominated the markets. Bitcoin also benefits from this reassurance.

On the other hand, Bitcoin Gold is approaching ever closer, a hard fork, which theoretically could lead to a further split of the Bitcoin network on 25 October. Against the backdrop of Bitcoin Cash Hard Forks a few weeks ago where Bitcoin owners have been credited with Bitcoin Cash in addition to their Bitcoin, many investors or speculators are now hoping that this could be repeated with Bitcoin Gold. This is why people heavily invest in Bitcoin, hoping to make a profit after a split through the additional win of Bitcoin Gold.

Also the increased interest of institutions seems to play a role for this renewed price rise.

So there were rumors, for example, that Goldman Sachs would think about a "Bitcoin Table". This would indeed be groundbreaking. Other experts and investors are also increasingly showing that they are interested in the crypto currency.

Even if the Bitcoin opponents maintain that the crypto currency is in a "bubble", the price development of the last days shows that this is not the case.

ⓁⓄⓥⒺ & ⓁⒾⒼⒽⓉ

Namaste

This is great, can't wait to see steem go up and up, I have almost all my crypto fortune in steem

For the people asking why steem is struggling it's because BTC is super strong right now. People are wanting the "free" BTC they will get in the upcoming hard forks.

why is steem struggling tho ..?

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Yihaaaa
Nice value

Its amazing to see bitcoin breaking off from 5000 levels.  Just matter of time till it crosses the magical 10000. But i feel there would be strong resistance at 6500 - 7000 levels and may test 5000 levels again before it shoots up. 
Regards Nainaz 
#thealliance

Got me with 0 bitcoins. 😎

hip hip hurrahhh

how i can earn btc sir...  sir can I got upvot from you plz..?

Source:  https://www.theguardian.com/technology/2017/oct/12/bitcoin-price-5000-cryptocurrency-gold-bubble

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