Bitcoin and cryptos overall are having a rough year. But here on Blurt we're weathering the bear market like champs! BTC is down 25% in 2022, while BLURT has held a sideways range and looks ready to explode once the bull market resumes.
Despite what a few pundits claim (and banks wish), crypto is not dead. Corrections and even bear markets happen all the time, but cryptocurrencies aren't going away, and at some point the market will turn back up. It has happened several times in the past 12 years and it's going to keep happening.
BLURT has been ranging between 2 and 4 cents all year, testing resistance at 3 cents the past few weeks. Current price is 2.67 cents. There is ongoing demand for this token. When the overall crypto market recovers, BLURT is primed to rise dramatically.
The only thing holding us back right now is the current crypto collapse, and the main driver of that is the stock market crash. At some point stocks are going to recover, and the crypto market will stop facing so much downward pressure. If Hive continues to implode, driving creators and investors here, there will be a sustained upward move for BLURT.
Looking at this long-term logarithmic chart, it seems clear BLURT is destined to test the 0.1 USD level. It won't go there right away, and there will be pullbacks, but if the community continues to grow and the crypto market recovers, LOOK OUT ABOVE!
What about supply?
While we're talking about the price of BLURT, let me ask a question.
We all know that the price of something is determined in the free market by the forces of supply and demand. And we've just discussed the current demand for BLURT. What about supply?
Where does blurt come from? If you know, please enlighten me!
I've just used part of my crypto holdings to buy 180k of them, and power them up here, so clearly I have some confidence in it. And I have an eventual target of one million BLURT in mind. But before I continue to buy and earn my way there, I'd really like to better understand the source of these digital tokens.
Perhaps the answer is "it works pretty much the same as it does on Steem/Hive/etc". I have a rudimentary understanding of that, and I'm satisfied there is some limit to the number of them, they are created in a predictable way, and no one person (or small group) controls the ability to generate more on a whim (like the Federal Reserve does with the USD).
Or maybe it's completely different here than other chains? I'm just trying to understand this aspect better! Thanks for any info.
Summary
The stock market crash made the crypto market correct. Blurt was barely affected. Soon stocks will recover, cryptos will go up, and I think Blurt will continue toward 10 cents each.
DRutter
I also wish to understand the inflation here. Because I don't see any posts about the development in trending, maybe we should ask people like : @tekraze or @saboin. Where we should look at when talking about the inflation of blurt, how much is printed, etc ... ? Maybe it's here : https://blocks.blurtwallet.com/#/
I see the total supply : 459 millions. So, is that mean that 9% of that will be printed eveyr year ? Something like 41 million. Where all those funds will be kept ? And who is in charge of that ? Is there any fund supporting projects in blurt ? For example, I'm running @blurtcast and that will promote blurt in all the world by creating those conferences and showing the positive vibe we have here. I also support tags in blurt with #dcc. Maybe you need at least a channel where those projects will be promoted in discord, or an account always tending showing the progress in the projects created here. I see a lot of them. But none of them is that supporting in trending. I mean, we should give that an attention as well. For example @onchain-curator who are curating a lot of good content. @visualblock who are promoting blurt in social media and many others.
I hope Blurt continues to grow.
....of all the 3 I know about - it's definitely in prime position over the others..... The others suck ! lol
Excellent post, Excellent points I totally agree with, Reblurted.
Been a bit busy, but been meaning to take to have a look at this post inparticular among all others. Thank you for writing it.
When I loaded up on a half million blurt, a lot of my decision to do so, is that I saw people that really study this stuff already here, buying, holding, and posting. If it was good enough for them then it was good enough for me. A couple of the names are @chorock, @rycharde (new name, but was easy to see he's a smart money guy) and some from the Korean community)
But that certainly does not answer your questions. so I'm calling in the big guns, who was so kind during @ultravioletmag's quiz the other day....@imransoudagar
Can you please shed some light on @drutter's questions. After all you've got a group of investors over here sitting on nearly a million blurt that would love a little attention on this topic. Lets Grow Blurt! and we'll patiently wait for you response. Thank you in advance. -Dan
Thanks for adding your thoughts, Dan!
When you talk about "if it's good enough for those smart people, it's good enough for me", I think that's what many others have done, and are doing now. And that's what I was doing at first, too. But I think before I go much further I really ought to investigate more. Since I don't see it anywhere on an FAQ, I thought to ask intelligent and connected folk like yourself. I appreciate your help in figuring it out! And look forward to adding more to my position once I understand the currency better.
Blurtionaire mate! 🤩💰💵🤣
Assuming there aren't trillions of them.... sure I would love to own a million :D
Also, keep in touch with Blurtconnect-ng family on Telegram and Whatsapp
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