Join 61,094 users and earn money for participation
read.cash is a platform where you could earn money (total earned by users so far: $ 294,823.38).
You could get tips for writing articles and comments, which are paid in Bitcoin Cash (BCH) cryptocurrency,
which can be spent on the Internet or converted to your local money.
Takes one minute, no documents required
Bitcoin! Bull Run Over? Micro Strategy Stacking Sats!
Bitcoin $48,337 and working it's way towards $50K again
Bitcoin has been one wild ride lately with price fluctuations indicating a ton of resistance as well as a ton of support at different levels. While we still don't know for sure if we will see the upper $30K range again or not, I would predict that if we did, it would be short live by a candle stick in a blink of an eye.
I believe we would already be above $50K right now if it wasn't for the F2Pool distribution earlier today with some where around 8,000 BTC We have seen countless times how transactions of this magnitude lowers the cost of Bitcoin with major transfers. Bitcoin tends to rebound smoothly from said corrections and usually has a bullish upside afterwards.
We seen the previous rejection at the $50K
Bitcoin still seems to be stuck on the downward trend and waiting to break above it. While we could hit the $50K level before midnight, it still is likely not to happen till the over night hours. While the popular fear being that Bitcoin is going to tank majorly from here, I tend to always seem to disagree.
When the markets are dipping we tend to see the weak hands fold and the corporations start stacking more satoshi's while the small guys lose money. We didn't see this trend during 2017 or 2013 We have had a lot of major financial advisors warn that when we see dips like this that corporations would be stock piling even more Bitcoin.
This will eventually lead to the major shortage that these corporations want to see. The whole supply and demand factor. You may be thinking to yourself, this guy is a joke, but in all actuality people like Michael Saylor are doing major things for Bitcoin. They are taking advantage of the weak minded people who see a small dip in the larger spectrum of things and bail out in order to obtain Bitcoin a further discount.
Saylor has been buying dips every time Bitcoin has corrections like this and when you dollar average his Bitcoin comes to a price of $23,000 per #BTC for a total of $2.16 Billion invested, Yes, Michael Saylor's Bitcoin is now worth $5 Billion almost and Saylor is not going to stop buying anytime soon. In fact, Michael Saylor has been coaching corporations on how to buy Bitcoin using the same strategies that he is currently using.
The downfall to people like us? Well, I am not an expert, but that tells me this isn't your average Bull Run that Bitcoin is headed to a whole new level that has been dreamed of by millions since it's conception and the time for #Crypto is now. Bitcoin isn't going to ever go anywhere except for private wallets and different exchanges, financial institutions like Square, Paypal, Webull, RobinScam and so many others.
We have insurance companies, stores and other companies stock piling Bitcoin. What exactly is driving the Bitcoin Madness to this whole new level? Could it be?
Why, yes it could be, but that isn't what I think it exactly is. I believe that FOMO will have it's time where people are buying more so than corporations. I know a lot of normal people are investing into Bitcoin on a regular basis like myself. I know a lot of people consider themselves to be Gem Hunters looking for the next best project to make millions if not billions of dollars on.
I am not a so called "Bitcoin Maxi" I see Bitcoin has the currency for purchasing a mansion, cars and other major purchases of that nature. Bitcoin is more valuable to hold than to sell. While people tell you Bitcoin doesn't offer the same returns as other crypto currencies do, they are right to an extent.
I proved this by using #BlockFi and depositing $25 in October of 2020 and by January of 2021 that $25.00 had turned into $125.00 and also earned interest on the way up. Now the thing is, if you can buy 100,000 tokens for $10.00 and they hit .01 you just make a hell of a return.
That is why a lot of people criticize Bitcoin, but that doesn't mean anything. Most of the time when some one hits a large pay day from small cap tokens that blow up, that money floods towards Bitcoin in a major way. Just watch the flow of money, Bitcoin tends to see a lot of it.
I know some will say, but Ethereum does more transactions or Ethereum has large volumes daily but the thing is, are these people really vested into Ethereum or just another ERC-20 Token that is better than Ethereum. A lot of times you will find that people only use Ethereum for the underlying Tokens versus Ethereum itself. Please don't take that the wrong way, Ethereum is still heavily invested in by a lot of people.
I just believe that as we see these ERC-20 Tokens start heavily migrating to other Blockchains we will see a large decrease in Ethereum. We aren't going to see the same with Bitcoin. That is why I bank on Bitcoin more so than Ethereum.
Bitcoin is said to one day replace #Gold which it very clearly already is doing so. Bitcoin won't replace Gold in the sense that a lot of people speculate that it will. I know this fact still tends to make a massive amount of people Pissed Off and I have sparked a ton of out rage by stating #Facts I know I have and to be honest, I kind of like it.
I know I am right and they know they are wrong but they won't face the facts the only way Bitcoin is taking over gold is by store of value. These people want you to believe that #Gold will be utterly useless because the powerful Bitcoin is going to take it's place. That would be like me saying, #HOT#HOLO#HOLOCHAIN is going to replace Aluminum.
The facts are that Aluminum will always have it's uses, it will always have a value based upon the supply and demand as determined by those uses. I honestly believe the major factors of the Gold price once the older generations that believe in Gold phase out will be left to the jewelry and manufacturing industry to determine it's value.
Whether you want to believe that other metals will take it's place, that is highly unlikely due to the effectiveness of Gold for electronics and jewelry.