With the recent dip in Bitcoin and Ethereum, many are concerned. They’re concerned about crypto regulations and whether or not the crypto market will continue to decline. This my case for a bullish Bitcoin.
Not only am I bullish on Bitcoin but also Ethereum too and consequently most other coins will benefit too. Ethereum 2.0 is finally launching and was funded ahead of expectations. If they can solve gas fees and scaling, Ethereum will truly be the go-to solution for development. It currently is that solution, but people are questioning its longevity. Yet more addresses hold 1 ETH than ever before so there are clearly more people interested in Ethereum and holding it long term than there ever have been: https://decrypt.co/48906/ethereum-addresses-1-eth-hits-all-time-high
Likewise Bitcoin currently has nearly the same amount of active addresses as it did at the previous all time high: https://bitinfocharts.com/comparison/bitcoin-activeaddresses.html.
Bitcoin is all about the fundamentals, not the market hype or anything like that. Naturally though, we see the beginning of an uptrend in searches for Bitcoin & Ethereum: https://trends.google.com/trends/explore?date=today%205-y&q=bitcoin
We won’t see this spike exponentially until Bitcoin at least passes it’s previous all time high and every news outlet is talking about Bitcoin.
This is a video I did previously explaining the Bitcoin Halving: https://odysee.com/@ScottCBusiness:4/Bitcoin-Halving-2020-The-Great-Crypto-Pump-1:e. The halving is one of the most important indicators for the value of Bitcoin. Every 4 years the inflation rate of Bitcoin halves and decreases the amount of Bitcoin being mined. With a continually growing demand for Bitcoin coupled with a supply that is scarce, you have a recipe for the value to rise.
The most interesting insight regarding the Halving was pointed out by “Russian Bear” on Twitter: ~~~ embed:1319942676024856576/photo/1. They point out that the time between the bottom in a halving cycle and the next halving is the same amount of time typically between the halving and the next all time high. It has been fairly accurate in the past, so to give a rough estimate, you’d end up with October of 2021 as the prediction for the next all time high before a crash. While no price predictions can be entirely accurate, the previous gains were upwards of thousands of percent, so even a small gain of 7-10x could end get us past 100k per Bitcoin. twitter metadata: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 ~~~
None of this is financial advice, but it is to show you some of the reasons I hold Bitcoin aside from the obviously amazing fundamentals of the technology. I’ve hedged my bets and invested in this dip and if the price were to decline more, I would buy more.
I’m curious to hear about your thoughts and predictions for the price of BTC & ETH. Will they go up or down? Is the price more affected by speculation or belief in the fundamentals? Are you bullish or bearish and why? Let me know in the comments below and don’t forget to like, share, and subscribe as well!
▶️ 3Speak
I am very bullish on Bitcoin and Eth. This pull back was expected it was running too hot. Long term the chart looks very nice.
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Yeah for sure
May I ask you one thing?
Why this?
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Lmao, I have all of my blockchain social platform merch that I've been given over the years and I display it. Steemit was the first platform I ever joined and started my entire journey. If you'd like to send me a LeoFinance or Hive canvas or merch, I'll happily display it too. Behind me you see Steemit, Uptennd, Publish0x, LBRY, and Minds
This made my "big eyes" mainly because this is an old logo, was replaced maybe 2 or 3 years ago.
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What are you talking about? That's the same Steemit logo that it's always been
hha ha ha ...yes, indeed...my bad.
It must be so longgg time ago since I left justinsun's steem, that I even forgot what the present logo exactly is. Somehow I thought it is the old one.
I'm sorry.
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Yeah I'm not a fan of him. That's the logo for the first interface Steemit, not the logo for the Steem network
1st visit here and happy to see you here
@scottcbusiness you are the great my man
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Happy to be here :)
Thnks for your love
I always thought the halvings would hurt the miners and make it unprofitable to mine. I thought it would slow the network or make it less reliable.
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No because they then sell their btc for more to make up the difference and force positive price pressure on BTC
I see how that makes sense now, as long as people keep buying and the price goes up it's worth mining.
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Yes and miners will hold their crypto to cause a lack of supply in order to drive up the price as well so that they can get the fair amount. It's what will always need to happen after halvings
I wish my gold and silver miners would do that, most of them are slaves to the investment banks that keep them floating when times are tough.
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