Bitcoin Market Cap Breaks $1 Trillion!! What does this mean for Bitcoin?
It has been quite the year for bitcoin. It has been reaching new heights ever since December 2020! Its price currently sits comfortably at a range of $50k(41k Euro)-$55k(45k Euro). People have watched its price attentively as it uptrends, pauses, and continues to uptrend. However, an important figure that is the key behind bitcoin's success is its market cap. Bitcoin's market cap doesn't get as much attention as its price, but it is even more important. Needless to say, the market cap follows the price. As bitcoin's price skyrockets, so does its market cap. In January, Bitcoin's market cap was sitting at $500-$700 billion. However, as Bitcoin recently broke $50,000, it didn't take long for the market cap to set records of its own. At 3:44-3:59pm (UTC) February 19, 2021 Bitcoin's market cap broke $1 Trillion (824.475 Billion Euros) for the first time in its history.
As many already know, this rapid Bitcoin growth is the cause of its halving in May 2020. The halvings have been known to boost the coin's price and market cap tremendously. It did this in late 2017 and early 2018 due to its halving in July 2016. In 2016 at the time of its halving, bitcoin was sitting at $650(535 Euro)-$680(560 euro) dollars. It took 9 months (until April 2017) for Bitcoin to start rapidly rising and 9 more months (until January 2018) for it to peak at $17k (14k Euro). Halving and peak were 18 months apart. In addition, there was a ~250% spike from the price at halving to the price at peak. By February 2018, Bitcoin was on a major downtrend as those who had made profits from the spike were eager to sell.
It is almost the same as what is happening now. In May 2020 at the time of its halving, bitcoin was sitting at around $8k(6.5k Euros). It took 5 months (until October 2020) for Bitcoin to start rapidly rising and here we are 4 months after, at what is somewhere near Bitcoin's peak. From May 2020 until now, Bitcoin has spiked ~520%. In the past, we can see that the time between the halving and rising is almost the same as the time between the rising and peaking. It only took a month from peaking to dropping. So we can infer that Bitcoin will rise and pause for about 1-2 more months. Then we can expect a massive drop as buyers reap their profits.
Things to note: This time around, it took almost half the time it did 4 years ago to rise and peak. The peak is also more than 3 times what it was last time. This is evidence of Bitcoin’s growth. Last time, Bitcoin dropped about 60%(to $7.2k) from its original from its peak after a month (in February 2018). After 12 months (in December 2018, it had dropped a full 80% (to $3.5k) and found a stable sideways trend for 5 months (until April 2019). After that, it spiked 170% (to $11,000) over 2 months which was followed by a series of extended up and down trends until October 2020, the beginning of this halving spike. I find it unlikely that we will experience such a drastic drop again, given that Bitcoin has improved its numbers. However, 30%-40% drop is on the books.
Whether you HODL or sell your coins is up to you. Fear not, Bitcoin may drop, but it has proven to be able to get right back up and reach records never seen before. This new record is good news for bitcoin and the altcoins that seem to mirror its movement because it is only a sneak-peek of things to come. Whether crypto will takeover the fiat currencies and bitcoin (or another altcoin) will take over all monetary transactions, we don't know. But we will soon see with our own eyes, what the future holds for us.
Until then, stay safe, stay smart, and I'll see you there.
Zen
`© Superbass / CC BY-SA 4.0 (via Wikimedia Commons), 2019-07-20-Dingle Lighthouse-0673, CC BY-SA 4.0`
Ireland is a beautiful getaway. The simplicity, yet beauty of the landscape.
Escape from the city lights, the loud traffic.
Go somewhere you can breathe. Enjoy the Earth's beauty. The green of the grass. The freshness of the air.
Inhale.
Exhale.
Have a break.
Relax.
Take some time.
Picture yourself there. Hope. When this pandemic dies down, you might visit. Or somewhere else you prefer.
It's okay to take some time off.
Like the lighthouse above, enlighten yourself. Enlighten others.
Find your peace. Be happy. Enjoy your life. If you don't, then what's the point?
If you have a topic idea that you would like me to research and write about, please leave it in the comments. Positive and constructive feedback is welcome. Feel free to leave a like if you enjoyed this article, and a tip would be greatly appreciated. Thanks for reading, stay well, and until next time :)
Sorry for not having posted articles these past few Mondays! There will be one dropping today though!
Inherently Selfish: The Nature of Survival
“The line between life or death is determined by what we are willing to do.”- Bear Grylls. The choices we make in these situations are often instinctual. Humans have adapted to their environment to survive. But because we are not as simple-minded as the other animals we share this planet with, we have developed morals and beliefs. These beliefs include the idea that selfishness is bad. I content that nothing is bad, as long as it is in the right quantity. In the same stride, too much or too little of something could be detrimental to our survival. The same applies to selfishness. But to understand this concept, let’s first investigate the definition of selfishness. “ the quality or state of being selfish : a concern for one's own welfare or advantage at the expense of or in disregard of others : excessive interest in oneself”(1) An example would be staying seated even though an elderly or pregnant person is in need of a seat. However, to turn selfishness into a healthier, more beneficial term, some parts must be excluded.. ~~“the quality or state of being selfish :~~ a concern for one's own welfare or advantage ~~at the expense of or in disregard of others :~~ ~~excessive~~ interest in oneself” A healthy selfishness is simply concern for oneself. It’s like putting on your oxygen mask before helping others. Most animals exercise this because when they hunt for prey, they do it out of concern for themselves rather than hate for others. Selfishness, in this sense, is more synonymous to self-preservation rather than greed and insensitivity. Survival requires selfishness because, without concern for oneself, survival may be compromised, and death may ensue.
Concern for oneself is what keeps us all from dying. Whether it’s simply eating a meal, or fending off a pack of wolves in the forest, we all do several things to assure our survival and well-being. Humans aren’t the only species who do this; all organisms from an invisible bacterium on your face to the grass in our lawns, to the great elephant living in the grasslands of Africa. All of these organisms have evolved in certain ways to ensure their survival. In his book, *On the Origin of Species*, Charles Darwin's theory of evolution explains survival. Darwin states that, “As buds give rise by growth to fresh buds, and these, if vigorous, branch out and overtop on all sides many a feebler branch, so by generation I believe it has been with the great Tree of Life, which fills with its dead and broken branches the crust of the earth, and covers the surface with its ever-branching and beautiful ramifications.”(p. 144)(2) The vigorous branches take over the feebler branches. They care not for the branches below them. All they know is that they are thriving, and they are happy. It is about the self.
Again, I wish to adduce Darwin’s work because he birthed the theory of evolution, and it is evolution that has in turn birthed our instinct to be selfish. Regarding the giraffe, Darwin’s book explains, “But it will have been otherwise with the nascent giraffe, considering its probable habits of life ; for those individuals which had some one part or several parts of their bodies rather more elongated than usual, would generally have survived. These will have intercrossed and left offspring, either inheriting the same bodily peculiarities, or with a tendency to vary again in the same manner; whilst the individuals, less favoured in the same respects, will have been the most liable to perish.”(2) The giraffe did not suddenly materialize with its comically long neck. It was a matter of evolution and adaptation. The giraffes’ ancestors had shorter necks, similar to a deer. They probably fed on grass and shrubs on the ground like most deers of nowadays. But in their region, the grass population began to decrease due to the soil’s growing infertility. The giraffes with the longer necks (caused by chance, not by natural selection) were able to reach the trees for food while their less lucky, shorter-necked compatriots were left to die. Another thing that boosted the giraffe’s gradual neck elongation was their mating customs. Male giraffes fight for a female to mate with. They often do this by swinging their heads at each other. The giraffes with the longer necks would often triumph and reproduce, causing longer-necked giraffes to be born. From there, the giraffe necks grew longer and longer until they reached the length we are now familiar with today. My point: although some giraffes were ‘born lucky’(with their longer necks), and thereby had a higher chance of survival, they didn’t do anything to help the giraffes with shorter necks. They got food for themselves and essentially left the other giraffes to die. This was not only beneficial for the individual giraffe, but also for the entire species. If the taller giraffes had fed the shorter giraffes, the species as a whole would have been vulnerable to any shortage of food.
The goal of any living organism is to live and reproduce. They will run, hide, or even fight if it means survival. This is further elucidated in the Life of Pi by Yann Martel. “Life will defend itself no matter how small it is. Every animal is ferocious and dangerous. It may not kill you, but it will certainly injure you. It will scratch you and bite you, and you can look forward to a swollen, pus-filled infection, a high fever and a ten-day stay in the hospital.”(3) Pi’s father is explaining that all life forms are willing to fight in whatever way they can for their survival. And we as humans aren’t so different.
Some people have made it through impossible situations. One example is José Salvador Alvarenga, a Salvadoran fisherman. His tale began in 2012 on a fishing trip. “A few hours into their voyage, a storm struck that lasted five days and blew them off course. Alvarenga called his boss on the ship’s radio for help, but it—and much of the rest of the boat’s electronics—had been disabled by the storm. The boat's motor was also damaged. A search party was sent, but after two days with no success, their boss gave up and assumed they had drowned. Alone and without food or supplies, the two fishermen survived by eating raw fish, turtles and jellyfish. They drank rainwater and turtle blood.”(4) In that kind of situation, they had no choice but to eat raw seafood. It was the only way they could have survived. It is selfish of us to kill an organism for our well-being. But we do or encourage it because it’s the only way.
Some people argue that survival doesn’t have to be selfish because we can find a way to live in harmony with all of the other creatures on our planet. But the truth is, we simply cannot. Humans have evolved to be at the top of the food chain. We need the beef and milk that cows give us. We need the chicken and eggs that hens provide. We need the pork that pigs supply. We need the vitamins and minerals that plants dispense. We can’t survive without these things. MyPlate.org suggests that people should, “Focus on making healthy food and beverage choices from all five food groups including fruits, vegetables, grains, protein foods, and dairy to get the nutrients you need.”(5) In order to get food from all 5 groups, we must not restrict ourselves to just plants or fruits. Unless we find a way to administer all the right nutrients we need in the right doses, we will have to continue obtaining them from different animals and plants. If the cows or chickens we ate almost every day needed to eat humans to survive, they would without a second thought. Nature is simply like that; things do what they must to survive.
Selfishness is necessary for survival. A lack of looking after oneself would precede death. It’s that simple. A lion in the plains that kills a deer can be considered selfish (self-concerned), but certainly not evil; as the term that is applied to selfishness. It’s just trying to survive. Similarly, a snake in the desert won’t bite you just because it’s wicked. It bites because it feels threatened. That is their defense mechanism. In some way, that too can be considered as selfish, but that is the essence of survival.
Bibliography:
“Selfishness.” *Merriam-Webster.com Dictionary*, Merriam-Webster, https://www.merriam-webster.com/dictionary/selfishness. Accessed 7 Oct. 2020.
Darwin, Charles. The Origin of Species. United States, P. F. Collier & son, 1909.
Martel, Yann. “Chapter 8.” *Life of Pi*, edited by Tim Squyres, Random House of Canada, 2001.
History.com Editors. “5 Stunning Real-Life Survival Stories.” *History.com*, A&E Television Networks, 5 June 2019, www.history.com/news/5-stunning-real-life-survival-stories.
“What Is MyPlate?” *ChooseMyPlate*, www.choosemyplate.gov/eathealthy/WhatIsMyPlate.
If you have a topic idea that you would like me to research and write about, please leave it in the comments. Positive and constructive feedback is welcome. Feel free to leave a like if you enjoyed this article, and a tip would be greatly appreciated. Thanks for reading, stay well, and until next time :)
Hello and Happy Friday! A new article will be posted on Monday. Comment if you have a topic you would like me to research and write about! :) Stay Well!
Any ideas or topics you would like to see on my next article? Feel free to leave it down in the comments!
De-Stressing in Quarantine
Hello and Happy Monday internet! Needless to say, we are living in some challenging times. Although it is hard for everyone, it is still important to stay positive (no pun intended...)
Constant Zoom calls, wearing a mask, social distancing, they are all energy consuming activities that we all must participate in. After a day full of this, it's normal to be tired and stressed. So, I have compiled a short list of simple and fun activities that could help anybody with a little time on their hands to relax after a hard day.
1. Bake
Nothing makes you feel better like a nice piece of cake or a couple of chocolate chip cookies. Of course, you could get these from a local grocery store but I can guarantee that you'll enjoy preparing your own even more. You could find a simple recipe online, or eyeball the flour and sugar measurements (whatever makes you happy). Baking can help take your mind off of things so don't look past your own kitchen to take some time off for yourself.
2. Draw or Color
I, personally, am not very artistic and I hate to even *try* to draw or color on paper. This might not apply to you though. If it doesn't, I'm jealous of your artistic talent. If you're on the higher end of the artistic spectrum, by all means, get a piece of paper and sketch an image. Anything that inspires you. On the other hand, if you're like me, you could find a color by number app or something similar. I use Sandbox. https://sandbox.love/
3. Watch a Movie
After a stressful day, grabbing some popcorn, kicking back and chilling to your favorite movie or a movie that you've always wanted to see is always helpful. You could drastically lower your stress levels and give your mind a break. Then, when you get back into doing your tasks, you come in with a rested mind and a new perspective.
All in all, although times can be hard, we must do what we can stay well and happy. You're not going to be any use to yourself or others if you're constantly stressed and frustrated. Find some time to flush those feelings out of your system, and you'll come back better than ever.
If you have a topic idea that you would like me to research and write about, please leave it in the comments. Positive and constructive feedback is welcome. Feel free to leave a like if you enjoyed this article, and a tip would be greatly appreciated. Thanks for reading, stay well, and until next time :)
Hello Read.Cash Community!
Good evening, readers and bloggers! My name is Nathan, and I am a brand new author to this community. I would like to introduce myself before I start writing articles. Here's a little bit about myself:
I am a cryptocurrency enthusiast and that will be the topic of some of my articles. I love to research, study, and read about cryptocurrencies, Crypto news, DeFi and the like. I love to watch and play soccer/football. I live in the United States.
I will try my best to post a new article every Monday. My articles can and will be about anything and everything.
If you have a topic idea that you would like me to research and write about, please leave it in the comments.
Thanks for reading and until next time :)
