Is Crypto at the start of a Bull Run?

6 months ago

WOW

Look at $BTC go. Are we in a bull run? That is the big question. I will get to that. First I want to talk about $HIVE verse Bitcoin.

In the chart above you can see Bitcoin has taken off. Lets look at Hive in the last 24 hours.

Hive was doing well, then it looks like there was some profit taking. Back on its way up but it is interesting to me that our beloved Hive is not following suit.

The big picture is in the one year charts. Here is Bitcoin and Hive over one year.

As you can see Bitcoin had been on the rise for almost a year, Hive not so much. It is interesting, and I have no answer.

Am I still bullish on Hive? Damn strait. Big things are coming.

So what is causing this push in Bitcoin price?

BlackRock takes apparent new step in bitcoin ETF prep

source

"The world’s largest asset manager continues to prep its proposed bitcoin ETF as segment observers have pointed to potential bullish signs that such products will be approved.

BlackRock’s planned iShares Bitcoin Trust is now listed on the Depository Trust and Clearing Corporation (DTCC) website. The planned fund’s ticker is IBTC, according to the listing.

Bloomberg Intelligence senior analyst Eric Balchunas said Monday that IBTC is the first proposed spot bitcoin ETF listed on DTCC — a financial market infrastructure giant that processes trillions of dollars in securities transactions daily.

A DTCC subsidiary — National Securities Clearing Corporation (NSCC) — has a process for clearing ETFs that includes “the ability to review…the ETF’s portfolio constituents, which is also used to automate the creation and redemption of ETF shares and their subsequent settlement,” according to the company."

Bitcoin soars to 1-1/2-year high on ETF bets

source

" Bitcoin soared 10% to 1-1/2 year highs on Monday, and crypto-linked stocks followed it higher as speculation about the possibility of a bitcoin exchange-traded fund drove enthusiasm about the sector and prompted short-sellers to quit positions."

"Anticipation of a bitcoin exchange-traded fund (ETF) has grown after reports this month, including from Reuters, that the U.S. Securities and Exchange Commission won't appeal a ruling it was wrong to reject an application from Grayscale Investments."

It all boils down to the fact that it looks like Bitcoin ETFs are going to become a reality. People are priming, people are buying, people have the giant FOMO.

I forget who siad it on Threads yesterday, but talking of FOMO, it was stated something like, stop going up I don't get my paycheck till next week.

If ETFs are approved in the USA and with the halfing coming in 2024, it is anyones guess where Bitcoin is headed. I read last week a prediction of 31 million per coin. Do I belive that is posible? Yes sir. Will it happen, I have no idea. Are we going to have a record breaking bull run? I believe so.

Do you have FOMO?

BBH PRICE

Due to the increase in Bitcoin quicker than Hive I have moved the price setting for the release price of BBH to the market from weekly to daily.

I try to keep 1 BBH equal to 1 Satoshi. And as Bitcoin is performing better than Hive at the moment that means the price of 1 BBH has to go up to keep pace.

Here is the last 5 weeks plus the last two days so you can see the calculations.

23 Sep 2023 26571 0.2975 100000000 0.00089
30 Sep 2023 26962 0.3 100000000 0.00090
7 Oct 2023 27956 0.31 100000000 0.00090
14 Oct 2023 26892 0.2924 100000000 0.00092
21 Oct 2023 29822 0.3129 100000000 0.00095
23 Oct 2023 30565 0.3276 100000000 0.00093
24 Oct 2023 34126 0.3302 100000000 0.00103

As you can see between yesterday and today the release price of BBH went from 0.00093 Hive to 0.00103 Hive.

I hope you all have a great day. And I hope this post was informative.

GOALS

Post on Hive at least once a day
Bring some joy to my wife today
Top 20 Hive-Engine Witness
Stake 1 million LEO
Stay positive and keep a good attitude
Promote Hive to someone new
Get Curation Trial to 200 people
Hit 6000 HP by end of 2023
Do 2000 strait days posting on Hive
LPUD every month in 2023
Make BBH the number 1 income token on HIve
Visit Ghana one day