Are US Stimulus Funds Making Their Way To BTC or is it Bull Season.
Bitcoin has been struggling with getting and staying across the $60,000 mark, but today nearly everything I hold is up, in fact BTC seems to be struggling compared to LINK, BAT and ADA.
US Stimulus checks hit the bank today, and it seems some are buying crypto, but I certainly don't think that alone can pump BTC at this point. Although I am sure it helps with the alts.
This is a blank chart, it is here to represent my mood about crypto in general for the rest of 2021.
Why am I so bullish on crypto?
USD Inflation - those who understand the concept of inflation are going to want to find a place to park their liquid assets.
Crypto is in a bit of a FAD market right now, after years of being geeky, it is suddenly cool to be in crypto.
There are so many new ways to access crypto, when I started it was really hard to figure out how to buy BTC.
Corporate and institutional interest in BTC as a store of value/Investment.
Which brings us to the most important factor.
Supply and Demand and the developing supply-side crisis, there is more demand for bitcoin than there is supply. More People and Institutions want to hold Bitcoin.. and it is outgrowing the Supply.
People often try to fake scarcity, but the real power is in creating demand.
What's in your Wallet?
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Very true, it's showing the truth of demand. It's going high so much and not only that it continues.
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@tipu curate 2
Upvoted 👌 (Mana: 52/78) Liquid rewards.
In my wallet...top5
Bitcoin, etherium, cardano, monero, dash
Truth is, id rather btc wasn't in my top five, but I'm doing a deal with the devil for now
I like the deal with the devil comment and I understand.
My our souls remain fresh and clean.
And the way Hive is going I might start putting that in the top 5!
Some are for sure. I've seen many surveys/studies of how young people plan to buy stocks with their stimulus money, and I think that's also behind the new records we keep on seeing in the S&P and Nasdaq in particular recently. Surely with crypto being so hyped now, people will look at that too.
For the longest time, it was only 3 tokens: Bitcoin, Ethereum and HIVE (and STEEM before it, obv).
For quite simple reasons, I would encourage everyone to hold some BTC and ETH as the best bets when first getting into crypto. And since it was the only two that I could honestly recommend to any newcomers, then I figured it would be my stores of value too. And then HIVE because it's the only crypto that I actually use daily.
Now I've also picked up a significant amount of KOIN, as I think it can have a very nice timing with the craze for NFTs and DeFi while there's also a growing concern/frustrations with fees on Eth/Ada/Pdot.
So that makes it four! I like to stay concentrated on a few assets that I really feel like I understand.
I'm really bullish on Koin as well. With you on BTC and ETH also..
Yeah... our portfolios almost match, but I have Link too. Whether they deserve it our not they have captured a rich audience in Institutional money
25% BTC
25% ALTS
50% USDT
Although the good news above, But ready for anything
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Yes ;)
Gonna be a good couple of months with the stimulus money coming in. Crypto will be mooning if the last round was anything to go by. Most of my bags are in BTC. And now some in cub as well.
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Exciting times ahead - of that I am sure! Meantime - let's stack more of them cryptos.
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I hear you, but where I'm from, I still feel crazy to a lot of people by living in this crypto world. With my recent experiences in CubDefi, I will seem totally out of touch...
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I can't even imagine trying to explain it to anyone outside of crypto.
I put my check in. I think there is more value in crypto than fiat.
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Nice!
I think part of it might have to do with one of the major banks becoming a bit more crypto friendly. I could be totally wrong though. My BTC holdings are pretty small compared to a lot of people who hold it. I am more heavily invested in alts, but I am in the game and at this point that is what really matters!
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That's a great point too. Banks can bring in resources and change.
Yeah, I think it was Morgan Stanley.
$59 billion are moving around bitcoin alone.
There is a lot movement not related to supply an demand
it could be just use case of bitcoin.
Now most network marketing scam ask for bitcoin
in return they pay in dollar that they convert back in bitcoin
I tried to convince a friend not to participate.
She insisted that the earning is great that way.
Why would I give my btc away?
!BEER
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View or trade
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hmm I don't even know what it is, but I have a little.
adikhen#9817
its my discord if you have time so please contact me for further information
I split my stimulus between rent for next month and BTC. Gotta have a place to live, but I'd rather have dumped it all into BTC LOL
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Did not get a stimulus but that is okay. My bills are payed and I purchase a little crypto at a time.
My view is if people are buying crypto with their stimulus instead of paying bills, they did not need it in the first place. Then again that is just my thoughts and what people do with their money is their business, none of mine.
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Well for those who needed it, it was a stimulus, for those who didn't it was a tax rebate. I wouldn't normally support it, but when the government decides who can work.. they might as well print us some free money
👍
Loads of pie charts on my metamask these days!
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hmm, should you reduce supply or increase demand. LOL
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