Bitcoin Jumps! – 266

Bitcoin this week went over 30k in fact It kind of bounced up and down quite a Few times as there were some false Reports of course earlier that Bitcoin ETFs were approved of course we found Out later on down the line that that Wasn't necessarily true and that was a Misreport and it caused huge spikes on The of course on bitcoin this brings up The question of if an ETF is approved Prior to the having could we see an Early start to the Bitcoin Bull Run and This or the crypto Bull Run in general Right and this is something that's been Brought up quite a few different times What breaks Bitcoin out of the Traditional cycle for those that are Unaware bitcoin's been on a four-year Cycle since its Inception this cycle Basically is based around the having of Bitcoin and the next having is in April Of 2024 typically what you'll see is the Having start to b or the having take Place and accumul ation start to build Up for the next 6 months about 6 to 9 Months after the having happens what you See is in a huge spike in the price of Bitcoin which is caused by basically Fear of missing out by retail investors That don't understand the cycle of Bitcoin the actual pricing of Bitcoin is Most most relatively or most of the time Correlated excuse me to the cost to Mint

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Bitcoin and the reason the having Affects this is because the having is Basically cutting the rewards miners get From the from transactions on the Blockchain or solving a block in half so This next time for example it's going to Go from six Bitcoin to about three Bitcoin or 3.25 somewhere around there So what you see of course is that price Get go up due to that and then people See the price of Bitcoin go up they Think that Bitcoin is going to go up Forever and they invest and it goes way Up Into The Ether to the Moon right like We saw previously and what happens Eventually is people realize that this Is more what the actual value of Bitcoin Is and it comes back down to cost to Min And sometimes a little bit below that And this is basically what we've seen For or since the Inception of Bitcoin This fouryear cycle play out so from my Perspective I always planed around the 4year cycle I don't necessarily plan Around other things outside of this but It is important to bring up the fact That with the ETF coming into play what We would see is a bunch of investors That that are not familiar with the Four-year cycle which could cause some Fomo into Bitcoin and then what would be Really interesting of course is if we See these approved and the price of Bitcoin goes up before the having we

Could see kind of a a culmination of Events that cause some sort of up period That lasts a lot longer than it Traditionally has which would be very Awesome considering the fact that we've Seen a downturn that's lasted quite a Bit longer than it typically does so let Me know what you guys think in the Comment section and the live stream Below there is an article here covering Of course the jump over 30k for the or Referencing on coin desk the ETF hopes And it says Bitcoin Forks LED Alternative token gains in the past 24 Hours outpacing major tokens Bitcoin Crossed the $30,000 Mark during the Morning hours on Friday extending its Weekly gains to over 11% as bullish Sentiments around a possible spot Bitcoin exchange traded fund ETF for Short approval in the US gained momentum Tokens formed by the forking of Bitcoin Bitcoin cash and Bitcoin SV jumped as Much as 26% to lead gains among Alternative tokens is in a sign of Possible irrational exuberance which is What I would uh attribute this to right Irrational exuberance and the thing is Is everybody that's been participating I Think within cryptocurrency for a long Time is very aware of the four-year Cycle you kind of see this start to Happen and I think it's a hint of what Happens when adoption of cryptocurrency

Goes beyond the people that are educated On cryptocurrency we saw a huge adoption Rate of course surrounding nfts Etc in The last Bull Run that brought a lot of People that are not traditionally in the Crypto space into crypto and a lot of Them felt like they got burned there Were a lot of scams that happened in That particular case and it basically Put a sour taste in a lot of people's Mouths but we did see kind of what Happens when normies get into Cryptocurrency and I think we see like Obviously this Irrationality of people that want to get Into cryptocurrency that will drive the Price up without actually understanding The Dynamics of the actual What the price is driven by I mean we See this a lot of times in across the Board especially in shitcoins or in Altcoins right where people don't Understand the cost to Mint and they Drive the price of these tokens that are Worthless or even projects that are not At worth as much to an extreme high so There is always this kind Of balance game where like there is Something to be said for jumping on a Train early even if it's not worth a lot Just so that you can make a lot of money Off of it it's kind of like that Ponzi Scheme aspect of it or that pyramid Scheme aspect of cryptocurrency that you

Can you know make money off of Ironically right and it's kind of funny Like that earlier this week fourouse Financial services committee members Urge the SEC to listen to the courts and Give up efforts to block Bitcoin ETFs From regulatory approval in a letter to SEC chair Gary Gendler elsewhere hopes of the grayscale Bitcoin trust being converted into an ETF riled up some Traders gbtc is one of The largest institutional Bitcoin Holdings and great scale is among Several other asset managers who have Applied for a Bitcoin spot ETF other Major firms in the race include Black Rock of course Fidelity and Wisdom Tree Meanwhile Traders said a ruling in Grayscales favor could tilt overall Sentiment bullish and even set the Bedrock for a broader Market climb quote Bitcoin has also been encouraged by Possible ETF approval and an increasing Number of ETF submissions by Leading Companies shared Lucy Hugh senior Trader At met met Alpha in a message early Friday quote the SEC opted for a no Appeal on grayscales ruling and as the Deadline for Bitcoin spot ETF Applications from institutions such as Black Rock looms closer the Market's Confidence in ETF approval has increased End quote with the Bitcoin ETF approval And having event in April the crypto

Market could Kickstart a very robust Bull market H added and this is the Question that I have if you have an ETF Approval here by the end of the year or Even early into 2024 that causes an Uptick in the price of Bitcoin in General that will raise All Ships In the Rest of the crypto Market of course and Then that would flow into the natural Cycle of Bitcoin going up after the Having in April we could see a basically An unprecedented bull unprecedented Bull Run that starts earlier meaning I could Definitely see a bull run that starts Basically in April at the having of Bitcoin as opposed to further into the Cycle like the six to n months after the Having that we typically see because Usually the accumulation period starts After the having right so you would see April happened accumulation period for The next 6 to9 months and then the Euphoria as other outside retail Investors come into Bitcoin once again In fears of missing out on the Profitability of investing in Bitcoin But if that starts earlier with Accumulation being being kickstarted by The ETF I do think that we could see Basically a breakout of the traditional Cycle of Bitcoin once again is this Something that you could see happening Let me know in the comment section that Would viously be awesome because that

Would basically it could be bad or good Right so let me put it this way from my Perspective in general my entire plan is To continue to accumulate just as I Would through the the typical cycle Meaning my accumulation period would be Cut short so I wouldn't have as much of A boost right so for example miners are At an all-time low right now if we go to The Asic hash rate index right we can Get these old s9s for as cheap as They've ever been right like it's it's Absolutely insane we are seeing $5 per Terahash prices for 38 to 68 Jews per Terahash and that is cheap as dirt which Means right now I have the best Opportunity to accumulate as much Hardware as possible in the Bitcoin Mining space of things and be pretty Certain that that will go back up right Just because we've seen this like I said Every four years so my accumulation Period gets cut short unfortunately but On the flip side of that of course it Does put me in a position where combined With of course the crypto YouTube Channel and the mining Etc I could have A quite a bit of good profitability Starting earlier which is definitely Welcome I just wouldn't have as much Equipment and as much of power deployed As I would prefer or as I have planned Out for the the next cycle so those are Kind of the the pros and cons of this

Starting earlier I'd like to hear your Thoughts and opinions too would you like This to start earlier or would you like It to start later do you feel like You've you've accumulated enough to be Ready for the next Bull Run in Cryptocurrency or do you feel like you Still really want to accumulate quite a Bit more and that's definitely like kind Of the pros and cons surrounding it Thanks for checking out this clip from The crypto mining show you can check out The full episode here or more crypto Content down here also I'd like you to Check out my locals page at son ofate Tech. locals.com where you can become a Member for free or choose to be a $5 Month supporter that unlocks additional Content

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