@JoeSquawk If he's treasury secretary and not talking about bitcoin he's not doing his job because bitcoin is one of the biggest monetary innovations the world has ever seen. Embrace it don't fight it
Big difference between Bitcoin & Ethereum:
- Bitcoin worked as promised (p2p digital cash) from genesis block
- Ethereum doesn't work as promised (world computer) 4 years after genesis block
Looking for early bitcoin prices, to improve model, please share!
Oct2009: 1e quote on website, price is mining/kwh cost 1$ = 1309 BTC
Nov2009: Martti Malmi transaction 5$ = 5050 BTC
Feb2010: selling picture for $1 or 500 BTC
May2010: $41 pizza for 10K BTC
Today's candle is a massive bearish engulfing candle right now. If it closes that way, I am confident that BTC will test the 50 day EMA at a minimum, which is near 8700 right now.
#bitcoin Stock-to-Flow Multiple (BTC price / S2F model price). S2F Multiple is a peak/bottom indicator, like the Mayer Multiple. Notice only 3 red 'bubbles' (2011, end2013, 2017 .. begin2013 was not a bubble). 'Bottoms' (blue) mainly because of lagging 2012 and 2016 halvings.