The fall in Bitcoin has stopped in the last days and finally (after not much profitable days) the current mood on the market is slightly more positive. Meanwhile, this weekend is experiencing a rapid decrease in volume and volatility, which may give us a signal that there is a lot of movement in the cryptocurrency world.
Stock markets lost converted to BTC 694 573 873 coins
This week was one of the blackest in history. Since Monday, few shares ended up in profit. The worst shares are the world’s largest companies Google and Amazon. In the case of these shares, we saw a decline in the order of tens of percent. Converted to Bitcoin, we see a capital loss of 694,573,873 BTC coins. This figure is several times higher than the total capitalization of all cryptocurrencies.
What will the price of BTC be after its complete extraction?
Price development of Bitcoin can be estimated quite accurately based on growth models. The three best known models are the Parabolic Super Trend, the Stock to Flow model (S2F) and Plan B. It is based on the Plan B model that the price of Bitcoin can increase up to 2,232,111,011% within 100 years. Thus, in 2120, one BTC coin can be traded for up to several million USD.
Texas is the best place for mining BTC
Alex Liegl, CEO of Layer1 Technologies, announced he plans to build a huge BTC farm in a Texas city. By 2022, he wants to build one of the largest businesses in the world. The state of Texas chose because of the very cheap price of electricity. The size of the farm should be larger than that of some larger European and American cities. Alex Liegl is not alone who wants to build one of the largest mining farms in the world in this country, and the next big investors are expected to arrive.
Bitcoin is finally consolidating
After a big slump at the beginning of the week on the BTC, we can finally see several hours of consolidation and reduced volatility over the weekend. Since the beginning of the year, just on weekends, the crypto market has been mostly consolidated. But with the coming of the new week we should prepare again for more massive movements. So will the next bearish trend continue?