You need to be signed in to your bit.ly account before you can enter tracking data for the link. Since the link only exists here, and you're visiting this site right now, I doubt the click rate is that high. But, as Matt Cutts says in this video, the page rank and anchor text will flow through the shortened link and that there shouldn’t be any harm in using them…as long as the URL shortener is using a 301 redirect. See if you are using Classic Analytics (ga.js) or Universal Analytics (analytics.js).