DID YOU GET FUDDED OUT OF YOUR #BITCOIN HOLDINGS IN THE LAST FEW MONTHS…
Based on my observations, we have not hit a major market top, but a running correction within a bull run. This is our fourth minor top this year. Minor tops occur with regularity during bull runs where bitcoin can correct by as much as -40% and #alts a lot more as correlations remain high. Although in this go around… the Altcoins have been outperforming whilst Bitcoin was undergoing its corrective phase!!! Super Bullish IMO.
Today’s bounce in bitcoin is no coincidence as a number of these metrics converged, thus boosting the odds that bitcoin had found a low.
If we take a Mountain top view, one can see that U.S. households using new pioneering technologies from 1860 to 2020 take on the shape of an S-curve!
Normies are always skeptical at first, which represents the bottom of the S where adoption is slow, then once-great utility emerges, a sharp rise in mass adoption takes place forming the long nearly vertical part of the S.
Finally.
The market becomes mature and more saturated which represents the nearly flat, top part of the S.
The crypto market is just launching into the steep part of the S curve, so as I’ve been saying, the real acceleration in the #crypto space has just begun!!!
Reserve Currencies are not Global reserves forever. They all get old & DIE
The monumental rise in the price of #bitcoin is a direct consequence of QE-fueled debt and historically low interest rates which are tanking #fiat across the globe. #Britain’s reserve currency status lasted 105 years. France’s reserve currency status lasted 95 years. Spain’s reserve currency status lasted 111 years. USA’s reserve currency status is on year 99. This info is well documented amongst us, market participants & speculators. But not well known amongst the populace — especially you Yanks.
Logically, Bitcoin should be the next global reserve #money. But authoritarian governments deeply indoctrinated in mind control and bureaucracy, logic is last is rarely used or employed.
The Mobile Tsunami WAVE!
A mobile tsunami is here and upon us. Mobile devices will economically empower the masses. The Coinbase IPO propelled its app into soaring, record-breaking usage. In its first week as a public company, #Coinbase’s four main apps were downloaded about 2.7M times total, 2.3M of which were for its Coinbase — Buy & Sell Bitcoin app. All of its apps, except Coinbase Card, broke their lifetime records for single-day downloads and daily active users.
This surge of downloads also increased new users to download other platforms and apps. The Binance app was downloaded more than Coinbase! Other popular platforms such as eToro, Trust, and Crypto.com also had surged in downloads.
#Binance isn’t far behind fintech giant #PayPal in terms of new user acquisition. Over the last 30 days, Binance was downloaded 7.3M times compared to 9.2M times for PayPal!!!
These stats imply 10M new bitcoin holders per month, and with this number accelerating each month, more than 250M by year end!
Within five years, bitcoin should reach a #billion people. By then, bitcoin should be well above $1,000,000 and the crypto space should have a valuation in the tens of trillions!!!
Your #HEXconomist
Balla Ji
