I have a Monday that is a holiday. So I took the time to do some Bitcoin reading today. And all indications are for a bull fun to start.
Bitcoin Price Pump Movement Grows Ahead of El Salvador’s Adoption. There is a movement afoot apparently, according to Yahoo Finance. El Salvador will make Bitcoin legal tender tomorrow. Across social media and reddit there is a movement to try and get people to buy $30.00 worth a bitcoin in support of the movement.
This lines up with what the government of El Salvador is doing in giving, if my math is correct, 500,000 citizens $30.00 in bitcoin.
"the government has created a $150 million fund to back conversions of Bitcoin to U.S. dollars. Salvadorans will be able to download the government’s digital wallet, enter their ID number and receive $30 in Bitcoin, Finance Minister Alejandro Zelaya told local media last month".
Analyst Predicts Crypto Bull Market: $100K Bitcoin, $5K Ethereum Is Path of Least Resistance. The most interesting thing I read in this article is this:
"The Bloomberg Intelligence analyst proceeded to describe that bitcoin reaching $100,000 is “highly probable, especially after last year’s supply cut.” He continued: “Post-halving years have seen the greatest appreciation, and 4x in 2021 would be quite tame for the No. 1 crypto compared with 55x in 2013 and 15x in 2017.”"
Post-halving year increase. What an interesting stat that is. If you take the 55x in 2013 and divide it by 15x in 2017 you get a factor of 3.67. Then if you take the 15x and divide it by the factor you come to just over 4x. So yes, 100K Bitcoin should not be an issue. Thanks Mike McGlone for the education.
Today is day 22 of my CTP Content Challenge.
Market report:
Hive: $0.7629 up 0.04% Hold on nicely.
Bitcoin: $51,827.59 up 3.24% If I can find someway to get some more.
CUB: $0.5903 down 0.29%
Chia: $274.17 up nicely 12.24%
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Have a great day all.
Bradley
. Keep up the fantastic work