Bitcoin Cryptocurrency Update 11-4-20: Bitcoin Tops $14,000 Silk Road $1 Billion Move Crypto News

Bitcoin News today, Bitcoin Update, Crypto News Bitcoin Today. Almost $1 Billion Dollars moves between wallets. WOW that lot of Bitcoin.

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As an entrepreneur with dozens of companies in many different industries, I thought I’d offer you some insight into what I believe is one of the most fascinating financial fields currently around

I’m talking about cryptocurrencies and the rise of Bitcoin, which I actually have a good deal of experience with and have been a vital part of getting cryptocurrencies off the ground

Find out how almost $1 billion of bitcoin were recently moved out of an account related to the dark web, how bitcoin’s $14,000 price tag is on the rise, and why an influential financial investor believes that bitcoin was the best trade he’s ever made...after this



But first, nearly $950 million worth of bitcoin is on the move out of the wallet of someone associated with the Silk Road and creator Ross Ulbrict.

The Silk Road was an online black market, which allowed people to anonymously sell illegal substances across the dark web, before being shut down in 2013.

Tom Robinson, co-founder and chief scientist of Elliptic stated: “The movement of these bitcoins today … may represent Ulbricht or a Silk Road vendor moving their funds.”

We’ll see where these funds end up, but it’s fascinating to watch such a large amount of bitcoins (69,369) on the move, out of the blue.

Meanwhile, the price of a bitcoin surged above $14,000 today, currently sitting at around $14,200 as of recording.

This is the highest price for the cryptocurrency since it’s January 2018 peak, where the price soared to nearly $20,000.

Fairlead Strategies founder Katie Stockton stated: “With bitcoin now trading above that ceiling, its final resistance level sits at $20,000.”

Hopefully bitcoin can continue rising in price, as confidence with the cryptocurrency only strengthens it’s value.

Finally, leading investor Raoul Pal made some interesting comments recently about bitcoin and how it was one of the best trades that he’s ever made.

Pal explained that bitcoin is not only "a call option on the future,” but also "the world's most pristine reserve asset."

This new digital world creates unique opportunities for those that have invested in crypto, with Pal stating: “We've got the flow of funds backing it up, then we've got the move, which the central banks are driving. It's literally the biggest story I've seen."

Pal also explained that central banks: “They understand the technology is out of the bottle. The genie is out of the bottle. There's nothing you can do about it. It's not going away."

I completely agree with Pal and his assessment that bitcoin is an “incredible asset” and will only continue to rise in price.

Source: https://www.cnbc.com/2020/11/04/1-billion-of-bitcoin-linked-to-silk-road-is-on-the-move-elliptic.html

https://markets.businessinsider.com/currencies/news/bitcoin-price-hiits-14000-us-election-volatility-btc-cryptocurrency-market-2020-11-1029766585

https://finance.yahoo.com/news/raoul-pal-on-bitcoin-as-a-reserve-asset-120007396.html

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