Since crashing below $5,000 in March this year, the Bitcoin price has climbed steadily. That is, until thirty days ago, when steady morphed into parabolic, with Bitcoin rocketing from $11,300 to $18,000 and rising.
Such a BTC price has not been seen since the peak of the 2017 bull market on December 19 of that year. The difference this time is that the market is far more mature, with huge leaps forward in terms of community, business and technology that have been built in and around the Bitcoin ecosystem.
To put this current price surge in perspective, let's take a look back in time...
In 2013, the year after the first Bitcoin block reward halving, the price rose from $13 to $1,000. This was followed by a bear market, where the price dropped to $200 during 2015.
In 2017, the year after the second Bitcoin block reward halving, the price rose from $1,000 to $20,000. This was followed by a bear market, where the price dropped to $3,200 late in 2018.
This year, the third Bitcoin block reward halving took place. As 2020 draws to a close, Bitcoin is knocking on the door of $20,000 once again. In 2021, do you think that the previous price pattern of 2013 and 2017 will repeat, but this time with a substantially higher starting point? I do. Bitcoin to the Moon!
Recently, I wrote an article about the forthcoming FreeMarket.one trading platform, titled, Anonymous Crypto to Precious Metals Trading is Set to Become a Reality. The platform aims to be a marketplace that bridges the gap between virtual cryptocurrencies, like Bitcoin, and physical assets, such as gold and silver.
To provide anonymity, FreeMarket.one utilizes the Tor network, and to ensure security, it integrates blockchain technology. The project is part of the Bitcoin Rhodium (XRC) ecosystem of development.
While there is much 'engine room' building behind the scenes, the image above shows the latest progress in what the user will see when interacting with the platform. Given the current rate of progress, it is anticipated that public beta should be released at the beginning of the fourth quarter, 2020.
The price of gold and silver has surged recently, as investors seek to protect their wealth during this time of global economic uncertainty. This has been mirrored in the cryptocurrency markets, where Bitcoin, Ethereum and a plethora of altcoins and DeFi tokens have achieved significant gains.
These market movements have put a spotlight on cryptocurrencies and precious metals, drawing renewed interest from those who normally invest in more traditional assets, such as, stocks and real estate.
Given this, the timing of a soon to be released crypto to precious metals trading platform, could not have been better. Enter, FreeMarket.one, which aims to bridge the gap between these virtual and physical assets, using the Tor network to provide anonymity and blockchain technology to ensure security. The project is part of the Bitcoin Rhodium (XRC) ecosystem of development.
FreeMarket.one beta testing is set to take place this quarter. Currently, you can download a technical test version of the software. Details of this can be found here.
To keep up to date with the latest developments, follow twitter.com/FreeMarketOne, and if you're interested in becoming a vendor on the platform, email here.
Happy 2020 Bitcoin Halving everyone!
Yesterday, the third Bitcoin Halving took place. This is an event that occurs every 210,000 blocks, which is roughly every four years. What happens is that the block reward given to Bitcoin miners for uncovering a block (i.e. a file that records the most recent Bitcoin transactions) is cut in half. A block is mined approximately every ten minutes.
When the Bitcoin network kicked off in January 2009, the reward for mining a block was 50 Bitcoin. The first Halving in 2012 saw the reward cut to 25 Bitcoin per block. In 2016, the second Halving reduced that to 12.5, and yesterday's Halving, number 3, dropped it to 6.25 Bitcoin.
Unlike government backed money, where the supply is increased every time more is printed, Bitcoin is scarce and its supply capped at 21 million. At the time of writing, there are only 2,623,575 Bitcoin yet to be mined.
Just four more years until the next Halving ... and what a four years it is set to be! If the last four years in Bitcoin are anything to go by, we're set for a fascinating ride. Are you on board?
Bitcoin is back above $10,000 for the first time since September 23rd 2019, when it dropped below that point after a surge beyond 12k.
$10,000 is a strong psychological price level for those on both sides of the market. It instills confidence in holders of Bitcoin, while creating a fear of missing out for those yet acquire some.
If Bitcoin can spend time consolidating above 10k, it will build a foundation from which to launch to much higher prices. Bitcoin to the Moon!
Since my recent article, MimbleWimble Coin Delivering High Returns for Bitcoin Holders, the price of MWC has continued to soar, and is making a push towards 0.001 BTC per coin. To coincide with this stunning performance, a range of cool MWC merchandise was launched today.
The merch includes a huge variety of clothing items, available in many colors, styles and sizes. Other product lines are stickers, phone and tablet cases &skins, mugs, tote bags, clocks, pillows, prints, posters, coasters and notebooks... plus even more.
So step up your crypto swagger and click here to check out the MWC Merch Store.
Want to know more about MWC? Visit the official website at MWC.mw
On his recent trip to Australia, I had the privilege of meeting Adam Meister aka 'The Bitcoin Meister'. Adam has a popular YouTube channel where he does a live show every day. Five days a week, he presents 'The 1 Bitcoin Show' where viewers can learn the latest happenings in the Bitcoin space. On Fridays, he hosts a wide variety of knowledgeable Bitcoiner guests on his 'This Week in Bitcoin' show. For a change of pace, on Saturday, Adam shifts the focus to other topics he is passionate about in 'The Beyond Bitcoin Show'.
Those familiar with Adam's shows will know that he is super energetic and overflowing with enthusiasm for Bitcoin, health and fitness, travel and life in general. Spending the morning chatting with him in person, I found that who he is on screen, he is in life. Adam practices what he preaches, and has a wealth of fascinating Bitcoin knowledge and stories to share from his travels to many countries around the globe.
Adam's business savvy, exceptional self discipline and 'buy and hold' Bitcoin strategy, have enabled him to live outside of the 'rat race' that many only dream of escaping. He has set things up so that rather than having a fixed address, he travels the world, living in Airbnb accommodation.
He is a very cool guy to hang out with, and he even gave me a Bitcoin t-shirt and a rocking 'old skool' style Bitcoin badge. I certainly hope that our paths will cross again one day.
Be sure to check out Adam's YouTube channel, subscribe and as he famously says, 'Pound that like button!' here.
MimbleWimble Coin (MWC), a recent airdropped cryptocurrency that was acquired for free by Bitcoin holders who signed up for it, is delivering an exceptionally high rate of return. MWC were awarded at a rate of 40.41 per BTC registered. At the time of writing, MWC is trading above 0.0006 BTC.
MWC is a fork of the high profile privacy coin, Grin. Like Grin, and its equally well known counterpart, Beam, MWC utilizes the groundbreaking anonymity features of MimbleWimble technology, however, it also combines this with the power of scarcity, by having a capped supply of just 20 million. This limit on the number of coins, could well be the reason that investors are moving in and pushing up the price.
At the moment, MWC is trading on the Hotbit exchange (which doesn't require KYC) and via OTC on the MWC Discord channel.
For more information about MWC, visit the official website MWC.mw
Just when I thought holding Bitcoin couldn't get any sweeter, I received these Bitcoin chocolate coins for Christmas. Unsurprisingly, they were smoother, creamier, tastier and sweeter than their fiat counterparts.
Someone knows me well ;)
A hardware wallet is an essential device for keeping your Bitcoin secure and giving you complete control over it. If instead, you have your Bitcoin at an exchange, it is certainly not safe and you don't control it, they do.
Exchanges can be hacked, shut down and are susceptible to internal corruption. Just ask anyone who held their Bitcoin at the Mount Gox exchange when it collapsed ... bye, bye Bitcoin.
Having your Bitcoin at an exchange gives them control of your private keys, which means they decide which, if any, hard forks of the blockchain (such as Bitcoin Cash and Bitcoin Gold) they will support. As a Bitcoin holder at the time of a Bitcoin blockchain hard fork, you are entitled to an equivalent quantity of any cryptocurrency that is formed by it, however, that is only if you control your private keys. When Bitcoin is at an exchange, the decision to support a particular hard fork and reward holders is up to them and so you may miss out.
Some of these hard fork created cryptocurrencies have become significantly valuable in their own right. Those who held their Bitcoin private keys on a hardware wallet at the time of these forks were rewarded with a matching number of the new coins for free. These could then be held as an alternate investment, sold for cash or used to obtain more Bitcoin.
Controlling your own private keys, via a hardware wallet, also gives you the ability to claim free airdropped cryptocurrencies that are awarded to Bitcoin holders, like Bitcoin Rhodium, MWC and Hex. Once again, if your Bitcoin is on an exchange, you forego such opportunities.
If your hardware wallet is damaged, lost or stolen, your Bitcoin is still safe, as the thief or finder wouldn't know the information required to access the wallet. You, however, can restore your entire Bitcoin balance on another hardware or software wallet, because you will have the information to be able to do so.
When purchasing a hardware wallet, it is important to do so from the manufacturer or a reputable distributor, such as, CryptoHWWallet or Coinstop. This way you can be assured of receiving a genuine, brand new, untampered with, product. Never buy one on ebay.
Don't leave it any longer. The risk is real. Secure and control your valuable Bitcoin with a hardware wallet today.
Bitcoin to the Moon is dedicated to following the original cryptocurrency on a journey to its ultimate destination.
Like what you've read?
Support the site by leaving a tip in Bitcoin using the QR code above or the address below.