Bitcoin Weekly (6/13/2022)

Well that was a tough one! Bitcoin finally had a green candle last week after a record nine-consecutive weeks of red candles and we follow that up with more than a 20% drop this week, most of it in the last day or two.

The Crypto fear and greed index, highlighted below, is at 11 falling two points from last week and remains in "extreme fear" currently a sign that investors are very nervous about Bitcoins price direction. This was likely measured before the big drop so it could go down further.

At this point I'm convinced it is me - sorry everyone. I got my first few Satoshi's last November. Yes, November of 2021 - you know when Bitcoin hit is all time high. Bitcoin was on the verge of cracking $70K and surely just over another half of years gains and we would be well over the $100K mark by June of 2022. But no, Bitcoin because to slowly trickle down and that slow trickle has continued to grow into what now feels like a whitewater rapids river strong enough to crush even the most expert kayaker. 

It has gotten ugly and it is all my fault. All I can do is apologize and continue to add "sats" until this things turns around. I'm new and I'm not selling - no matter what. Again, I'm sorry and now for this week's Bitcoin Weekly...

Ten Must-Read Bitcoin Articles

• There's something different about this Bitcoin drawdown (Bloomberg)

• A Perfect Storm: Myriad factors drive Bitcoin to lowest level since December 2020 (Forbes)

• What Bitcoin's nosedive means for the environment (The Verge)

• Crypto firms Celsius, Binance halt withdrawals as Bitcoin plummets (The Hill)

• Cramer dubs Bitcoin collapse Crypto Monday, says many tech execs call it a con (CNBC)

• Is this a crypto winter? Why Bitcoin must hold $22,600 (Benzinga)

• Texas Feels Like Bitcoin Country (Maybe Because I Was There for a Bitcoin Conference) (CoinDesk)

• Bitcoin on the Moon (Bitcoin Magazine)

• How "Trustless" is Bitcoin, really? (New York Times)

• What is Bitcoin and how does it work? (Forbes)

Bitcoin Price Statistics (as of 6/13/2022, 5:15pm EST)

• Bitcoin Price = $23,251

• Last Week = $31,517

• Weekly High = $31,522

• Weekly Low = $22,725

• Market Cap = $449,434,988,894

• Market Cap Dominance = 43.887%

• All-Time High = $69,044.67 on November 10, 2021

statistics provided by CoinGecko

Bitcoin Fun Fact of the Week

Did you know that Bitcoin is the official currency of Liberland? And you thought El Salvador was the first country to adopt Bitcoin. Good thing you have Bitcoin Weekly to set you straight. Never heard of Liberland? Well you can look up that for yourself...

Bitcoin Mining Statistics

• Miners = 5,897,976

• Hashrate = 221.32 EH/s

• Difficulty = 30.28T

• Emission (24hr) = 825 BTC

• Circulating Supply = 19.07M (90.8%)

statistics provided by MiningPoolStats

Crypto Fear & Greed Index

index provided by Alternative

Where to Buy and HODL Bitcoin (Referral Links)

• Coinbase (Get $10 in Bitcoin)

• Crypto.com (Get $25 to sign up)

• KuCoin (Lend out your Bitcoin)

• Midas Investments (Get 13% APY on your Bitcoin)

What is Bitcoin?

Bitcoin (BTC) is a decentralized digital cryptocurrency.  Bitcoin was invented by the person or persons under the pseudonym Satoshi Nakamoto as described in the Bitcoin Whitepaper released on October 31, 2008.  The original cryptocurrency began trading in January of 2009 and could be transferred in a peer-to-peer fashion implemented using open-source software.  The transactions are recorded and stored on a public ledger called a blockchain.  Only 21 million Bitcoins will ever be minted with one million being owned by its creator(s).

For more on Bitcoin, please read What is Bitcoin? [A comprehensive Guide to Understanding Bitcoin] on Publish0x written by Mr.CryptoWiki

For information on the Bitcoin whitepaper, please read I Finally Read the Bitcoin Whitepaper on Publish0x written by CryptoMasterMiner

Find Bitcoin on Bitcoin.org, Reddit, Twitter, Instagram, Facebook