“Bitcoin to reach over 300K by the end of 2021” -A senior analyst at U.S.-based financial giant Citibank has penned a report drawing on similarities between the 1970s gold market and bitcoin.
Newly elected U.S. Senator Cynthia Lummis talks about Bitcoin being a store of value and also the first US-Senator to “HODL” bitcoin and wants to bring Bitcoin to the national conversation. Now, this could be a good and a bad thing. The obvious thing is that everyone is going to know bitcoin the bad news is that if the US government feel its a threat to the US dollar they could try to create laws or tax bitcoin holder to oblivion.
Fidelity Digital Assets validates a model that predicts Bitcoin price at $1 million by 2024 because of the stock-to-flow ratio. Fidelity President has also Files For New Bitcoin Fund
The trillion-dollar asset manager Fidelity is scrutinizing a popular and controversial Bitcoin price model.
A recent report from Fidelity Digital Assets analyzes the stock-to-flow ratio, which divides the amount of a commodity in circulation by the amount mined per year.
Using the correlation between an asset’s price and its S2F ratio, the pseudonymous crypto analyst PlanB has predicted that Bitcoin’s value will soar to $1 million by 2029.
Although there is a fierce debate on whether the stock-to-flow ratio is an accurate way to forecast Bitcoin’s trajectory, Fidelity says the model is a credible tool for analyzing scarce assets. The firm says historically, the metric is a sound way to judge whether a given commodity will become a successful store of value.
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This shows how small the Bitcoin market cap is compared to real-world companies.
What the media is hiding from the people of the world and as the gentleman said the only way to exit the economy and allow the Fiat collapse under its own weight.
And on July 4th, 2020 every person in the world needs to buy any amount of bitcoin to show the world the power of Bitcoin to show our independence and vote with our pocketbook to leave Fiat forever.
Bitcoin is a bottom-up approach to bringing black Americans to the top 1% of society’s independence from under the thumb of the Government and the control through social programs to get our vote. We need to stop fighting about black and white, Republican or Democratic, and all work together and exit the economy through Bitcoin.
This is a great book review of Bitcoin and Black America and hearing from the readers and there insight and thoughts on the future of Black Americans.
As America burns and people are losing their jobs and soon to we will have a foreclosure Tsunami approaching wall street is enjoying a rebound in the market from the freshly printed cash thanks to there friends at the federal reserve
Raoul Pal says “Boomers are in for a rude awaking The Baby Boomers are totally f*cked I have been publicly warning and warning about this.”
CEO Raoul Pal is noting that the COVID-19 coronavirus pandemic is revealing substantial system weakness in global markets. Summarizing the dramatic market losses seen in the stock market during March, Pal notes the Baby Boomer generation will be hit the hardest.
“The damage this does to the US pension system is incomprehensible. The Baby Boomers will sell every rally they can to protect their last, rapidly diminishing nest egg.”
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Everyone thought Bitcoin was supposed to go to zero. Instead, we saw Oil go into negative territory for the first time in history. I guess bitcoin was a good hedge against oil at this time who would have thought.
It’s sad to see toilet paper is worth more than oil these days.
Dan Peña said Bitcoin is going to Zero a year ago. I wonder if he saw the price of oil go into negative territory as well. On the other hand, If Dan knows Satoshi himself I assume he is talking to the wrong Satoshi Nakamoto aka Craig Wright. In ending I have always said in the past do what smart money does not what they say because actions speak louder than words in my book and if Bitcoin plummets smart money will pick it up on the cheap.
#bitcoin #btc #cryptocurrency #blockchain #cryptocurrencies #cryptotrading #infoonbitcoin #crypto #crypto #currency #cryptonews #cmegroup #securities #fed #satoshi #oilprices #oilindustry #oilandgas #oilmarket #oilprice #oilandgasindustry #oilgas #oilproduction
As part of Bitcoin’s coin issuance, miners are rewarded a certain amount of bitcoins whenever a block is produced (approximately every 10 minutes). When Bitcoin first started, 50 Bitcoins per block were given as a reward to miners. After every 210,000 blocks are mined (approximately every 4 years), the block reward halves and will keep on halving until the block reward per block becomes 0 (approximately by year 2140). As of now, the block reward is 12.5 coins per block and will decrease to 6.25 coins per block post halving.
Bitcoin was designed as a deflationary currency. Like gold, the premise is that over time, the issuance of bitcoins will decrease and thus become scarcer over time. As bitcoins become scarcer and if demand for them increases over time, Bitcoin can be used as a hedge against inflation as the price, guided by price equilibrium is bound to increase. On the flip side, fiat currencies (like the US dollar), inflate over time as its monetary supply increases, leading to a decrease in purchasing power. This is known as monetary debasement by inflation. A simple example would be to compare housing prices decades ago to now and you’ll notice that they’ve increased over time!
Since we know Bitcoin’s issuance over time, people can rely on programmed/controlled supply. This is helpful to understand what the current inflation rate of Bitcoin is, what the future inflation rate will be at a specific point in time, how many Bitcoins are in circulation and how many remain left to be mined.
The network itself controls the issuance of Bitcoins, derived by consensus through all Bitcoin participants. Ever since Bitcoin was first designed, the following consensus rules exist to this day:
Any change to these parameters requires all Bitcoin participants to agree by consensus to approve the change.
The first halving event occurred on the 29th of November, 2012 at block height 210,000. The second halving event occurred on the 10th of July, 2016 at block height 420,000.
It is always a debate on what Bitcoin will do in terms of pricing for a halving event. Some people believe that the halving is already priced in by the market and thus there’s no expectation for the price to do anything. Others believe that due to price equilibrium, a halving of supply should cause an increase in price if demand for Bitcoins is equal or greater than what it was before the halving event. Below is a chart showing past price performance of the two halving events:
info provided by bitcoinblockhalf
Fold has partnered up with Visa and created the first cashback in the form of Bitcoin.
“People are not interested in spending Bitcoin right now, but are interested in accumulating it,” This gives them a way to earn and hodl for the long hall.
On the other had this sector is growing rapidly because Coinbase has now also become the First ‘Pure’ Crypto Firm Approved as Visa Principal Member
What you see here is not the volatility of bitcoin but actually the volatility of the 30 yr Uniform Mortgage-Backed Securities (UMBS), These large candles on the right side are causing the interests to fluctuate dramatically in the market place. In a normal market place, as you can see on the left side, the small candles this would take six months to twelve months’ time to see this happen, but we are seeing these swings in just a day of trading.
As I said in my last post link below the fed will buy all kinds of debits and securities to weaken the dollar and this is why I know the 30yr UMBS is going up at the same time lowering the interest rate.
The image below is the screenshot of the current status of Bitcoin volatility.
#investment #volatility #cryptocurrency #securities #investments #weare #blockchain #marketplace #crypto #mortgage #UMBS #btc #cryptocurrencies #cmegroup #cme
Shark Tank host Robert Herjavec said Bitcoin is a better investment than Gold and he would buy it at these prices. He also said that “It’s all about the convenience.”
That is absolutely true when the gold price starts to skyrocket and supply of gold diminish and becomes scarce people will then and only then turn to Bitcoin for that convenience to protect their wealth from negative interest rates that the banks want to charge and at the same time protect their wealth from the deflating dollar because the fed keeps printing money aka as the invisible tax we all pay.
#cryptotrading #infoonbitcoin #cryptonews #halving #cmegroup #counterfeiting #bitcoin #bitcoin #satoshi #cryptocurrencies #cryptocurrency #cme #crypto #currency #ethereum #currency #lottery #eth #btc #blockchain #assetclass #sharktank #RobertHerjavec