carypto news

breaks the grand resistance and will go parabolic… Well our prediction came true, by Sunday of the next week, Bitcoin finally broke 45k, it broke 46k, and got all the way up to 48k before a correction.So will this pump continue? Well what is one of the main reasons for the

PUMP!? Do Kwon and his project Terra Luna have been on a bitcoin buying spree.

And their Bitcoin wallet is fully public, nicknamed the LFG wallet of Let’s Fucking Go Wallet. As we can see they initially began with 1large buy back in Late January for over 300 million.This buy went under theradar and no one knew

about it…well their buying became publicthis month, and they have been buying in chunksevery day or so since March 21st…which if
you compare the 14 day bitcoin chart, with Terra Luna’s LFG wallet balance over the same period…you can definitely see a correlation… The more they add to their stack, the higher the Bitcoin price is going… Now remember, Do Kwon has pledged to back
Terra Luna with $10 billion in Bitcoin, heannounced this to the world March 14th…well

going back to the LFG wallet, we can see thatas of yesterday the balance was just over 1.3 billion in BTC, which means they still have around 8.7 billion to go. So if they started their public buying aroundMarch 21st, and Bitcoin was aro und 41k…1 billion in buys pumped the price up to 48k…aka a 7k pump per 1 billion. 7k multiplied by 8.7 the rest of the billions to go…guess what that equals  $60,9000…if the trajectory stays the same…by the end of their bitcoin buying spree an extra over 60k could be added onto the price, akakbitcoin will be above 100 thousand dollars,

specifically over 108 thousand. So could this happen? Well this runup of Bitcoin is built on more solid grounding than the others. Number one, Bitcoin on exchanges is hitting record lows. The lowest it has been in 3.5 years, since the middle of 2018.

And for one of America's top exchanges Coinbase, it’s the lowest it has been in over 4 years…the supply of Bitcoin is dwindling in places where
trading of hands takes place.The lower the supply, and the higher the demand equals increasing prices!! And there is big demand from big players…not only Do…Micheal Saylor felt a little bit jealous,

so a subsidiary of his company Microstrategy,Macrostrategy took a 205 million dollar Bitcoin collateralized loan from the crypto friendly bank Silvergate, to do what with? Buy more Bitcoin…And based on his history, Saylor and his companies usually begin buying Bitcoin within 48 hours of funding being secured.

Alhough there are more reasons to believe this Bitcoin bull run is here to stay.This runup is much different than prior ones. Prior runups were largely driven by leverage,while this runup is largely driven by spot trading. During the January 2021 run from ~$30k to $60k traders were at times paying annualized interest rates of above 100% all the way u to 140% to go long with leverage and about 70% were using Bitcoin as collateral.

Today the equivalent traders are paying just about 1.7% annually and only 38% of them are using Bitcoin as collateral.This runup has a seriously more solid foundation
than the last ones.Minimal bitcoin on exchanges, this is built

on spot not leverage…and there is high demand!! But you gotta know, getting up there isn’tgoing to happen without a fight!! It was announced yesterday, that Greenpeace and billionaire Ripple co-founder Chris Larsen were coming to lobby against Bitcoin and its
current proof of work

The goal of the campaign? The article says “Larsen said Bitcoin’s
power consumption issue could be fixed via a soft or a hard fork -- both changing thenetwork’s code to make Bitcoin less power
hungry.a

Stake.The campaign believes that about 50 key miners, crypto exchanges and core developers have the power to change Bitcoin’s code.”

The same old story, Bitcoin has a power consumption issue which needs to be fixed…well what people don’t realize, especially Chris Larsen….is Bitcoin actually will save this planet. As it incentivizes renewable and sustainableenergy technologies.

Coindesk just 2 days ago put out an excellent article titled “Can Crypto Miners Make the World Greener?”with the subheading “As it decarbonizes,the mining industry might help push energy producers to build more renewable power sources.”The article states “For many miners, using renewable sourced electricity makes a lot of economic sense.

Overall, renewable energy is cheaper than fossil fuels, so it can preserve miners’profit margins. 
CEO of Energy Web, a U.S. company that is helping a consortium of miners build transparency around their energy sources, 

known as the Crypto Climate Accord.Not only are fossil fuels more expensive, but they are vulnerable to external price shocks such as the war in UkraineIn the section “The great crypto mining merger” they say “The incentives between energy producers and miners are so aligned that soon it might be difficult to draw a line between the two.More energy firms are entering mining, while miners are accumulating their own energy supply.

than selling the energy to the grid,”Well isn’t this just a great example that wraps up everything Coindesk said.One of the world’s largest Energy companies,Exxonmobil is getting into Bitcoin mining as part of its plan to reduce emissions, and is planning on expanding this to four other countries.

The article states “Exxon Mobil Corp. same at other sites around the globe, which includes in Alaska, the Qua Iboe Terminal in Nigeria,
Spokeswoman for Exxon, Sarah Nording said this about the project… “We continuously evaluate emerging technologies aimed at reducing flaring volumes across our operations,” and Exxon expects to meet the

What does this mean? Well when it can make them money and convenient large energy companies mining oil will sell the natural  gas they produce mining oil

 — but here is the thing
But it is much cheaper and easier to bring Bitcoin mining machinery to the oil site than say to build out a pipeline to transfer it to market.Oil companies like Exxon are starting to usethe natural gas to mine Bitcoin instead of simply flaring it and releasing it into the atmosphere.
Do you get this? In other words Bitcoin is a new type of machine that eats pollution and prints money

 — and Exxon is a significant commercial validation that it really works.Their tests and coming exansions have shown that mining Bitcoin alongside mining oil will reduce emissions and improve their bottom line.
And let me tell you, their competitors are most likely taking note… Are you? Cheers viewers I’ll see you next time!