Bitcoin vs the Dow: the race is on! If you’ve even been remotely following any type of crypto news, you would have been inundated with headlines proclaiming the phenomenal rise in Bitcoin’s price over the last two weeks. Yes, it’s been increasing in price for the past couple of months but to go from $14k to $18k in the space of one day is definitely something to write about. These increases have some finance professionals wondering if Bitcoin will reach $25k before the DOW does. The latter hit $22k in August, $23k in October and $24k just last week. This results in $1k growth increments roughly every month.
Bitcoin’s upward trajectory is a bit different, with $1k increments being reached in a matter of days or even hours. Based on this, it’s not that much of a stretch to believe that Bitcoin could reach the goal of $25k well before its Dow opponent.
If you’re a Bitcoin holder, you’ve probably been smiling ear to ear with the latest run of price increases. However, if you were hoping to cash out, you may be in for a bit of a wait. Getting dollars for your Bitcoin involves a Bitcoin exchange, a buyer (which shouldn’t be too hard to find) and then the actual exchange method, which could involve a wire transfer.
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Bitcoin has been jumping upwards by leaps and bounds in the past many weeks. We have been treated with good news about this surge from time to time and since this whole thing have been reported in the mainstream media it resulted into more and more people feeding into the frenzy, so to speak. Now, this can also be the reason why some experts have voiced their well-meaning concerns that this whole thing can just be a big bubble ripe to explode before our very eyes. Whatever opinion you may believe, there is no doubt that Bitcoin can be here to stay sometime.