Bitcoin is a series that discusses the events of the previous week that took place in the Bitcoin industry last week, covering all the important news and analysis.
Summary of the week
This week was full of hilarious news. The market seems to be getting ready for the end of the year, good word coming. From El Salvador’s volcanic bitcoin mining activities to the mayor of Missouri’s plans to give each family ১০ 1,000 in bitcoin, the week was something to see.
Fantastic news of the fall
Monday was a busy day for Bitcoin, with notorious Bitcoin critic and JPMorgan CEO Jamie Dimon saying that Bitcoin could grow 10 times, but he doesn’t care. Their rivals on the same day Morgan Stanley has revealed that they have more than doubled their investment Grayscale Bitcoin Trust had 58,000 shares in the last quarter.
As Bitcoin tipping began on Twitter, Strike CEO Jack Malars said he would do so. Donate all the tips he received on the platform Near the Human Rights Foundation. Later Monday, Miami Mayor Francis Suarez began advocating for bitcoin mining to move toward nuclear power, a clean and efficient alternative to fossil fuels. He said Miami could become a clean bitcoin mining hub.
Finishing through a high note on Monday, El Salvador revealed it More than 2.25 million citizens now use the Chivo Bitcoin wallet, Considering any small achievement it was launched just three weeks ago. Coinbase has unveiled a new feature that will allow users to automatically convert their paychecks into Bitcoin on the platform. Finally, U.S. Senate candidate Blake Masters says The U.S. government should buy a strategic reserve of bitcoin.
On Tuesday, BitPay, the world’s largest bitcoin payment provider, announced a partnership with Verifone to allow their merchants to accept bitcoin payments. ATM maker Athena also announced that Salvadoran could Get their salary through the company’s ATM. El Salvador’s president, Naib Bukel, also shared a share Video teaser of the country’s plan to mine bitcoin using geothermal energy Generated by the country’s volcanoes. The author of “Rich Dad, Poor Dad”, Robert Kiyosaki, warned people Bitcoin should be bought before the biggest market crash in history, Refers to an expected stock market crash.
On Wednesday, in an interview with Cara Switzer, Elon Musk discussed and suggested cryptocurrency regulations. US government “does nothing” to control bitcoin And the overall crypto market. Kathy Wood’s Arc Invest also revealed that they had Coinbase bought শেয়ার 42 million worth of shares on Tuesday.
Also on Wednesday, Umbrella unveiled their first plug-and-play Bitcoin node, a big step towards bringing users sovereignty. Despite China’s move against Bitcoin, it was revealed on Wednesday that there are still more than 145 Bitcoin nodes active in China. On Wednesday, shutting down Cool Valley news, Missouri Mayor Jason Stewart announced plans to give every family in town $ 1,000 in bitcoin.
On Thursday, as September drew to a close, El Salvador President Buchanan announced that the country would offer a ছাড় 0.20 discount per gallon on fuel to anyone using the Chivo Bitcoin wallet, pushing for more adoption in Central American countries.
Also on Thursday, U.S. Federal Reserve Chairman Jerome Powell officially said that the U.S. government would not ban bitcoin or any other cryptocurrency in the country, in contrast to China’s recent sanctions. This is an important signal for those in the United States and around the world who are still wary of investing in Bitcoin.
Friday, the government of Salvador Began digging his first bitcoin powered by geothermal energy, Becoming the first country to mine bitcoin, started the green energy bitcoin mining revolution. Interestingly, the bitcoin was found in the basement of the mining exchange just two days after the CEO of the Tehran Stock Exchange resigned.
Overall, the past week has been extremely bullish, with bears entering hibernation for the winter as Bitcoin is predicted to breakout in the next few months. The only bearish note last week was that JPMorgan CEO Jamie Dimon is spreading FUD again, although Bitcoin could very well go up to 10x.
Since September is off this week, it’s interesting how interesting it is Plan bIts stock-to-flow model and Forecast posted in June Has come to life. June0 He released his model and made some bold predictions, saying that in the worst case scenario, Bitcoin would end in August at $ 6,000,000 and in September at 43 43,000 – both of which proved to be correct. He predicted Bitcoin above $ 63,000 at the end of October, $ 98,000 at the end of November and $ 135,000 at the end of December. Indeed the bullish “worst” prediction.
If you understand bitcoin and what it represents, it’s easy to do in a case where bitcoin will grow exponentially in the coming years. Bitcoin has already risen 25% in the last quarter, despite all the FUDs from China’s choice. As the year draws to a close, Bitcoin is preparing for a good run that could likely go above $ 135,000 and possibly up to $ 300,000 or $ 400,000.
Of course, it’s easy for me to stay bullish every week. Let’s look at the reason I expect a run. In addition to a whole country adopting Bitcoin (El Salvador) and more and more companies adding Bitcoin to their balance sheets (thanks to micro-strategy), there is also the fact that Fiat is preparing for a pound in the next few months. Britain’s decision to leave the EU is coming back to bite them as fuel, food and labor shortages continue to grow and make headlines. Joe Biden then warned that the United States could enter recession and Janet Yellen warned that U.S. money could run out within three weeks.
As the world’s “superpowers” find themselves in a time of increasing turmoil, their economies will surely be hit, which will affect 66 dollarized countries around the world and the global economy. Everyone will look for alternative, safe investments and it is best known for Bitcoin. As more people and companies fight to buy Bitcoin, supply will decline and prices will rise. Simple.
In the last three months of 2021, Bitcoin will reach an all-time high and reach the six-figure for the first time. Bitcoin is here to stay and more and more people are realizing that it is the best bet both in good times and bad.
This is a guest post by Dion Guillaume. The opinions are entirely their own and BTC Inc Bitcoin Magazine.