Always take in consideration non of this information is financial advice or official announcement from any specific project, I’m no expert and this is just my personal opinion on certain project mention on this article, cryptocurrencies are extreme high risk assets and you must do you own research
Bitcoin Liquidity Continues To Go Down – Price Sky Rocket
After this halving the market has probably been impact more than ever before, during previous halving and bull markets in crypto the price has been driven by crypto enthusiast and retail buyers meaning companies were not interested and for many years said many things about Bitcoin, most of them bad things like its scam or too risky. This bull market is very different than before.
“Markets can stay irrational more than you can stay solvent” , now that so many companies and institutions are on the Bitcoin Hype Train the supply of Bitcoin is not enough, the amount of Bitcoin that can be mine on a daily bases is starting to be short based on the demand, this is my second bull market and usually the paradigm is that market cycles extend with time meaning bear and bull markets become longer, the average time frame is every 4 years there is a bull market and this matches the halving of Bitcoin but since this is the first time ever that the supply is just not enough we might see Bitcoin and the rest of the market to prices we have never dream and a very extended bull market but it will depend if demand continues, we know institutions hold for ever right? j/k
Here the Bitcoin Balance on Exchanges Chart by Glassnode
Compare to other precious metals where you can actually put more hardware into it and increase the amount of metal let say gold, silver, copper you can actually produce more, you have to hire more people, buy hardware, machinery, etc, but with crypto is not the same since most blockchains that can be mine has a fix block time frame, blocks per day and amount of reward per block, Bitcoin is one of them. On average there are 143 blocks mine per day with a reward of 6 Bitcoin per block meaning about 858 Bitcoins are mine per day (probably not exact to every satoshi) you can add more hardware, more people, more infrastructure and the amount of Bitcoin per block will never change different than mining precious metals, taking in consideration the amount of Bitcoin that has been locked down because people lost their password, send to wrong address or just forgot about it.
Different than altcoins with Bitcoin you don’t look at all time highs in order to measure how far it will go in the next bull market, you basically look at its previous all time low, here a comparison until 2018.
Altcoins are a complete different game but they to tend to recover with time, may take longer but all it takes are flagship altcoins like Ethereum, Litecoin and Dogecoin, you may say Dogecoin sux but if you have been on this market long enough you know that when any of this three coins start moving its because something is happening in the altcoin market, usually its Ethereum always moving first and then comes Litecoin and Dogecoin, this usually happens when whales get tired of Bitcoin, there is probably a liquidity cap from investors or Bitcoin and whales start putting some of those gains into altcoins, when this happens Bitcoin price drop enough not to create panic from 5% to 10% and we just had that drop two days ago, this match the violent price move of Ethereum, Litecoin and XRP.
XRP Savage 200% in 5 days
ETHEREUM brakes $600 in 5 days
Bitcoin Liquidity Continues To Go Down - Price Sky Rocket
This moves started around that 10% drop on Bitcoin
Many investors in this market will make tons of money just by buying crypto, it doesn’t matter what they buy as long as its a legit project, there is a point on altcoin season during bull markets that ALL ALTCOINS PUMP, in this case probably not all will go back to all time highs but its an euphoria that traders just look for cheap projects to buy because they think it has more probabilities to go up, mane investors also will loose part of their gains or all because they are expecting a dump in price but it may never happen during the time expected, either you go short and get burn or you just keep waiting to buy back or more and price never comes to your buy point and then end up buying less and higher.
If you are into crypto for the long run just keep holding, if you are trading don’t over trade and avoid going short, if you are not into crypto and want a piece of the pie buy but expect price correction. This bull market is not over and at this pace we could easily see Bitcoin over $30k next year.
I even turn on an old mining rig I have left from 2017 when I had a small gpu mining farm, 80 x Nvidia GTX 1070 at peak producing about $6k a month and this rig is 8 x Nvidia GTX1070, thats a 4 year old video card making about $1.37 a per card a day, entire rig making about $11 a month
From the days you could make $3 A DAY with a GTX 1060, a $250 dollar video card, thought similar times would never come back and here we are
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