Ron G Jun/ 15/ 2020 | 0
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In today’s blog we’re gonna be talking about the Bitcoin halving that is coming up and we’re gonna go through what people think that Bitcoin might be on the decline or it might be on the rise.
In my personal opinion, I don’t think we’re in decline. If you’ve been keeping up with the news, you probably notice a couple of things. Tether which is the stable coin. If you look at the number of stable coins that are on the market. A lot of people are positioning or putting their money into stable coin.
One may be because Fiat wants to stabilize their coins instead of having fiat depending on what currency and you don’t want it to fluctuate like the Lebanese currency has dropped more than 50 percent. Things going on with oil. The volatility has been the swings of volatility has been up and down. A lot of investors are coming into the market in a crypto market and they’re buying packs, tether, they’re buying more USD. See USD TX that are financed USD.
On coinmarketcap.com. I’m showing you (image shows below) the 24-hour volume for tether if you look at this. Bitcoin is at 32. The tether is 45. The percentage of change within the last 24 hours.
There’s an article saying “Tether just printed another $240 million as demand for Bitcoin flourishes” when I look at the news, there’s a couple articles there saying. Bitcoins gonna crash. That was just one article. Majority of the articles are saying Bitcoin is in a flourish Bitcoin is gonna up etc.
There’s another article of Jo007 that says “Bitcoin whale suggests BTC price will crash. Halving is priced in”. He’s a crypto whale and he said sarcastically “No, of course it’s not priced in. On the very day of the great halvening everybody will finally realized how under priced BTC is and they will all rush to buy it. In droves. With unemployment checks”
Jo007 is estimated to be holding a large Bitcoin short position, as shown by data from Bitfinex leader board. It indicates that the trader is down $11.3 million in the past month. Given that the Bitcoin price has increased to around $7,700, it shows the whale is holding a large short position and expects the price of BTC to decrease in the short-term.
You can take this article with a grain of salt even though it’s on coin telegraph which is credible source but he’s down 11 million. What does that tell you in his credibility and in trading in you. His short positions whether it’s short or long. I personally think people are putting their money more into tether and I think we’re gonna see a demand for more Bitcoin as we’re getting closer. I think some people are waiting for that dip or that you know quick drop maybe for the whales to do their manipulation and maybe goes down and that’s where tether in there but who knows. I think time will tell.
Here are other articles like breaking news. Bitcoin whales on the move 68,000 Bitcoin moved on-chain for the first time in five years. This was about 20 hours ago and it just shows you a large Bitcoin whale just graduated to a five-year hodler last week 38,000 BTC moved out of the five years active supply been indicating that the last time they moved on-chain was in April 2015.
If you’re familiar with grayscale so grayscale is buying half of all newly-ethereum. This is another reason why I’m bullish on Ethereum and Vechain but grayscale is like a holding company and for investors that are looking to get into Etherium. I think they put up like a 400% markup. If you want us to buy Ethereum. If you want to buy Ethereum you got to pay that investment firm to take care of all.
Grayscales Ethereum trust allows institutional investors to buy securities that track the value of Ethereum at a 400% premium. That investment firm sees a positive. Now, what they’re doing is they’re busing half of newly mined Ethereum. It just mentions that they hold one percent of the circulating supply. I think they have a lot of faith in the Ethereum with the Ethereum to coming out. What’s taking that’s gonna happen. I did make a video on that before.
Another thing for Vechain. It’s not just an Ethereum even Bitcoin. I think it’s just the overall market. Here’s a tweet from uncle Vito. He mentions this “This address just bought 100 million $VET and has now a total of 328 million VET. I don’t know if that’s an exchange but either way. The whales are coming in. Bitcoin halving is it’s less than 2 weeks. It’s gonna be interesting what we see. Whether we see that increase that Bull Run comes sooner than later who knows. Maybe there be a dip and people are gonna be buying it.
Bitcoin Halving Vechain Ethereum BTC
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