Bitcoin Weekly (7/4/2022)
Happy Fourth of July to those of you reading from the USA. I'm celebrating tonight from the beautiful beaches of Destin, Florida and will be watching fireworks from the pier here shortly. If you are celebrating Independence Day, be sure to check out our themed "Bitcoin Fun Fact of the Week" below.
Thankfully we have hit July after a brutal June which saw Bitcoin (BTC) have its worst month in ten years. The 37.3% in June was the worst month for the first ever crypto since 2011 when BTC was still just an infant. Who would have saw Bitcoin below $20K when we started the year but the largest crypto coin as ranked by market capitalization ended the month at $19,925.
Bitcoin is down a bit from last year but did hold the $19K level thanks to bulls setting a resistance level. Hopefully BTC can stay well above its recent low of $17,605 and ideally push above a high resistance level that appears to be around the $23K mark.
The Crypto fear and greed index, highlighted below, is at 14 up a couple of points from last week and remains in "extreme fear" currently a sign that investors are very nervous about Bitcoins price direction.
Ten Must-Read Bitcoin Articles
Bitcoin Family say they lost $1 million on their investment this year, but sold a lot at peak (CNBC)
July 4th, Bitcoin And Sovereignty — Declaring Your Own Financial Independence Day (Bitcoin Magazine)
Bitcoin Maximalism Is Dead, Long Live Bitcoin Maximalism (Forbes)
What determines the Bitcoin price? (Coin Telegraph)
Richest Bitcoin Whale Splurges Over $102,000,000 on BTC in a Month in Massive Accumulation Spree (The Daily HODL)
A Day In The Life Of A Bitcoin Core Developer (Bitcoin Magazine)
Celsius Shareholder BnkToTheFuture Proposes Bitcoin Investments, Restructuring in Rescue Bid (CoinDesk)
Honey Badger Should Care: Why Bitcoin’s Price Action Does Matter (Bitcoin Magazine)
Bitcoin Declaration of Financial Independence (PYMNTS.COM)
Hodlers and whales: Who owns the most Bitcoin in 2022? (Coin Telegraph)
Bitcoin Price Statistics (as of 7/4/2022, 6:45pm EST)
Bitcoin Price = $19,985
Last Week = $20,751
Weekly High = $21,481
Weekly Low = $19,864
Market Cap = $396,998,569,672
Market Cap Dominance = 40.598%
All-Time High = $69,044.67 on November 10, 2021
statistics provided by CoinGecko
Bitcoin Fun Fact of the Week
Purchasing Bitcoin on July 4th is financially prudent. Going back the last decade, buying Bitcoin on July 4th and holding it for a year results in an average return of 268%. On seven of the ten years, Bitcoin was green for the year following holding it since America's birthday. Talk about financial "independence"! Now those are some real fireworks...
Bitcoin Mining Statistics
Miners = 5,662,965
Hashrate = 221.88 EH/s
Difficulty = 29.57T
Emission (24hr) = 987.5 BTC
Circulating Supply = 19.08M (90.9%)
statistics provided by MiningPoolStats
Crypto Fear & Greed Index
index provided by AlternativeWhere to Buy and HODL Bitcoin (Referral Links)
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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
