Ethereum enables secure financial transactions to be carried out through smart contracts. The pioneer of the still-emerging decentralized finance, or DeFi, sector is the Ethereum network. One of the crucial cornerstones of the actual use of blockchain technology on the Internet, together with the revolutionary Bitcoin, is Ethereum (ETH). All of these factors make Bitcoin an excellent long-term investment option. Transactions can be completed more quickly and for less money due to the Lightning Network. This layer is made up of several payment routes between parties or Bitcoin users. With the use of micropayment channels, the Lightning Network, a second layer for Bitcoin, extends the blockchain’s capacity to handle transactions more efficiently. This safeguards the asset from instability over the long term. The first is the halving of Bitcoin, which is a countermeasure to inflation.Įvery four years, the reward for mining bitcoins is halved in order to maintain scarcity. Additionally, it has a few unique characteristics that set it apart. JUST IN – Santa Monica Fire Fighters become the first union to purchase and hold #Bitcoin /zasHyUENAhĬommon characteristics of assets that make good inflation hedges include rarity, accessibility, and durability. Many people compare it to gold as an inflation hedge because it’s a rare asset. More than 90% of them are already in use. The maximum number of Bitcoin tokens that can be produced is 21 million, as opposed to the unlimited printing of fiat money. The token supply for Bitcoin is controlled, for starters. Bitcoin is frequently described as “digital gold.” Similar to gold, it possesses a number of inherent attributes that make it a desirable possession. Its market value at the moment exceeds $900 billion.īitcoin has proven that it can increase in popularity over time and has taken on a significant role in the market. The most valued cryptocurrency, Bitcoin, was the first to enter the worldwide market. It was designed to be a cutting-edge peer-to-peer payment system that is safe, open, and doesn’t need middlemen. Just like the old Rainbow Chart, someday it might not be correct anymore.Bitcoin (BTC) is a decentralized digital currency. You can not predict the price of Bitcoin with a rainbow! It is meant to be be a fun way of looking at the historical long term price movements. The Rainbow Chart is not investment advice! Past performance is not an indication of future results. If you have any questions, feel free to hit me up on Twitter or contact our PR Department. As you can see, even in the new model we are in the lowest “Fire Sale” band, so fingers crossed! The result is this beautiful rainbow that will hopefully have a brighter future than the old one. One that is the best fit for all of Bitcoin highs (red) and one that includes only the lows (blue). The rainbow is still not a full rainbow that goes back down, because that is not how Bitcoin works!.We kept the legend labels and the colors (still no indigo)!.You can add more years to the rainbow chart.You can now zoom and pan into the chart as you like.But due to the recent events the potential trajectory for the Bitcoin Price is not as bullish as the old one.The new fit explains every move so far (the old one had a couple of wicks outside the rainbow).The Rainbow Chart V2 is based on a completly new formula, fitted with data until 2022.So instead of letting the rainbow chart die or simply add more colors (indigo, ultraviolet anyone?), we remodeled the Bitcoin Rainbow Chart! So, what’s new? Since then, we have a lot of new Bitcoin price data. But after a brutal 2022 in the crypto industry it was just no longer valid. Seriously, SELL! FOMO intensifies Is this a bubble? HODL! Still cheap Accumulate BUY! Basically a Fire SaleĪs you may have noticed: The original Bitcoin Rainbow Chart is dead! The chart, which was based on a model developed in 2014, held for quite some time.
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