Strategy has acquired 1,550 BTC for $101 million to increase our $BTC Reserve to ₿845,256. We have also increased our USD Reserve by $100 million to $1.0 billion. $MSTR $STRC https://t.co/1Zf1AVsP1H
At 26, he launched a website that would change Bitcoin forever.
At 29, he was sentenced to die in prison.
After 10 years behind bars, Donald Trump just pardoned him.
Here's the wild story of Ross Ulbricht, Bitcoin's most controversial pioneer:
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To estimate a potential top and the month based on historical patterns from the RSI chart, we need to look at previous cycles' timing and peaks relative to the halving events.
1. **Previous Halvings and Peaks**:
- **First Halving (Nov 2012)**: Price peak in late 2013 (about 12 months later).
- **Second Halving (Jul 2016)**: Price peak in Dec 2017 (about 17 months later).
- **Third Halving (May 2020)**: Price peak in Nov 2021 (about 18 months later).
2. **RSI Peaks and Price Peaks**:
- RSI peaks tend to precede or coincide with price peaks, but sometimes there's a delay.
**Next Steps**:
1. **Halving Date**: The next Bitcoin halving is expected around April 2024.
2. **Estimate Timing**: Based on past cycles, the peak could occur between 12 to 18 months after the halving. This suggests a timeframe from April 2025 to October 2025.
3. **Top Estimation**:
- **RSI Chart Peaks**: Review the RSI chart to see how high the RSI reached during peak times.
- **Price Patterns**: Historical patterns show exponential price increases post-halving.
**Calculation for Potential Peak**:
- **April 2024 Halving + 12-18 months**:
- **Target Months**: April 2025 to October 2025.
- **Potential Top Estimation**: If we consider the magnitude of past price increases:
- **2013**: ~$1,000
- **2017**: ~$20,000 (20x from previous cycle top)
- **2021**: ~$69,000 (3.45x from previous cycle top)
Using a conservative multiplier (e.g., 3-4x from the previous top of $69,000):
- **3x Multiplier**: $207,000
- **4x Multiplier**: $276,000
Therefore, if the historical pattern holds true, we might expect a peak:
- **Between $200,000 and $275,000**
- **From April 2025 to October 2025**
These are speculative estimates based on historical data. Actual market conditions and external factors can significantly influence future price movements.
MicroStrategy has acquired an additional 3,000 BTC for ~$155 million at an average price of $51,813 per #bitcoin. As of 2/25/24, @MicroStrategy now hodls 193,000 $BTC acquired for ~$6.09 billion at an average price of $31,544 per bitcoin. $MSTR https://t.co/micudbYf3P
Bitcoin New ATH in 2024 ?? 🚨
After Comparing the Previous Two cycles, it's noticeable that #BTC takes approximately 609 to 670 days from its bottom to break above its Previous ATH and print a New one.
But How long will it take to set a New ATH in this Current Cycle? 👇
-> From 2015 bottom it took 609 days
-> From 2019 bottom it took 670 days
-> From 2022 bottom it took ??? days
If we use 2019 as an example, where price took 670 days from the bottom to reach a new ATH, we can expect a new ATH by September 2024.
However, when comparing 2015 to 2019, #Bitcoin took about 10% more time to break its ATH in 2019.
If we observe a similar trend in 2024, it could take around 737 days from its current bottom to reach a new ATH, which would place us around November 2024.
In conclusion, if History repeats, Bitcoin could potentially surpass $69,000 sometime in November 2024 (Q4)
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8 MUST read books to understand #Bitcoin 📚
1)
"The Bitcoin Standard" by @saifedean
This book explores the historical context of money 💰 and positioning #Bitcoin as the future of hard money. It's a must-read for understanding Bitcoin's potential as a store of value.