Bitcoin At ATH, What's Next? .:. WorkerBee PH-Pool Week 161
While I was replying to comments on my latest #MyHiveGoals post, I have realized that it passed only 2 weeks from the Workerbee report where I mentioned that BTC is surging toward 55K! After less than 24 hours of publishing that post, BTC went over that price, and here we are, 2 weeks after that and we are already creating new ATH (all-time-high)! At the moment of writing this post, BTC is hovering around $72K-$73K, which is almost 20K more than just 2 weeks ago!
Btw. I have done this title and topic on purpose, maybe I will "jynx it" (in a positive way) and the price will go further up! 😃 To be honest, I think that BTC doesn't need my help to do so... lol...
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So, what's the next step in the crypto world? It's great to see BTC thriving higher, beating the previous ATH, but that's great for folks who are HODLing it, what will happen with the rest of us/tokens? To get there, we have to look deeper into the BTC... For the first time, I heard some doubts about the "altcoin run"... For those who haven't been here for a longer time, there is a theory (which was confirmed in the past), that after the BTC pump, when BTC slows down to go up, the next move is that altcoins start to move up... And not like what they did until now (for example, HIVE went from under 30c, to over 44c), but rather in an exponential way where we can see 5-10-100x on many tokens!
The general idea is that all the money that comes into crypto through BTC, will "spill over" through altcoins when BTC slows down... The concern that person said is about the "type of money" that came into Bitcoin! All these new ETFs bought a shitton of BTC in their portfolio, but they aren't degens like many retail people, and they have probably "locked" that BTC for a long time... So maybe we will not have that spill over...
On the other side, all these big investors are coming to crypto understanding BTC as a "new, digital gold", and if you check gold prices through the years you will notice that it didn't have too many (big) pullbacks... In our case, we NEED Bitcoin pullbacks to see some altcoin action, and if this continuous pressure continues, I'm not sure that altcoins will be able to follow BTC price action...
In conclusion, seeing BTC going up doesn't mean that ALL altcoins will go up too... Especially it doesn't mean that altcoins will go up every time BTC goes up... In some way, that's not that bad at all, as we could finally see different price actions (direction) from different tokens, at the same time... And maybe we will not have these "general 4-year cycles" anymore when EVERYTHING goes down or up with BTC...
Back to the Workerbee report numbers!
In the last 7 days, it looks like we were unlucky as we mined 85 BEE tokens in total!!!
This POOL doesn't have fees and you get up to 20% MORE by delegating to it!
What about the bonus tokens?
This time, we are back to the gaming tokens and my favorite HIVE game, Rising Star!!! If you are following #MyHiveGoals reports you have noticed that I'm a big fan of the game and I even have a yearly goal connected to the game... I'm accumulating cards like crazy, but to get there, I have to buy those cards... The best way to do it is to buy packs and/or cards from the markets... As there is a nice discount when you buy 10 packs with STARBITS tokens, I'm using that to get 2 packs more!
After playing the game for years, I'm making all my in-game purchases with the profits from playing the game, which is awesome! STARBITS token is doing well lately and I'm happy to see that it has more and more use cases in the game!
There will be distributed 750000 STARBITS tokens to the delegators of the pool as a bonus reward today!
As always, in the end, let's give the exact numbers for this week... There will be distributed 85 BEE tokens and 750K STARBITS tokens as a bonus... The APR (without the bonus) was 7.048%, and when we added the bonus it went up to 8.537%!
I have calculated the ROI approximately with medium prices for all tokens at the moment of creating this post... So, those numbers are valid if you bought WB and sold BEE tokens at the middle HiveEngine price...
Do you want to sponsor the PH-Pool with your tokens, receive a short SPONSORED segment in this post, and raise awareness about your front-end or dApp? Please let me know in the comment section, or contact me through Discord or Twitter and we will find the best solution for both parties...
If you want to join the WorkerBee PH-Pool, the only thing that you have to do is to STAKE tokens to YOUR account and DELEGATE your staked WORKERBEE tokens to THIS account (@ph1102)! Every week you will get your portion of mined BEE tokens and BONUS rewards!
.:. DO NOT STAKE TOKENS TO MY ACCOUNT!!! Just DELEGATE! .:.
All payments will be made after publishing this post...
If you have any questions, please leave them in the comment section!
You can find more about this pool in the initial post here https://inleo.io/hive-119826/@ph1102/workerbee-p-h-ool-let-s-help-each-other
Thank you for your time,
~ph~
PS. @lemonp8ste refund 9/9 (35 WORKERBEE in total), for mistakenly staked WB tokens is sent and REFUND 2/9 for mistakenly staked tokens (26.98425 WORKERBEE in total) also.
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You can also find me on InLeo .:. Twitter .:. LBRY
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Thank you for educating me.
I'm glad if you learned something new! Just sharing what I learned not that long time ago... 😃
I'm always reading quietly every post, as someone who knows basics of crypto - there is always something new to me :D
You have explanation skills which are understandable... 😂
Thank you very much! Sometimes people like to overcomplicate things and I like to keep explanations as simple as possible, so that everyone can understand...
The price is going up pretty quickly! I guess the ETFs were not "priced in"... LOL
Nobody expected that these old crypto-enemies would shill so hard Bitcoin from the very first day... When you hear Larry Fink, you think he is Satoshi himself! 😂
Yes, it is a somewhat uneasy feeling... What's the catch?
Hahahaha... Like the meme!
The catch is that he is filling his pockets with fees... 😃
Problem is that the alts goes down when BTC sees a correction, it sometimes hampers the momentum the alts are trying to build.
Yeah, alts do follow Bitcoin's ups and downs... The only time when they can shine is when BTC slows down and consolidates... But, if BTC doesn't slow down, not sure when they will do that...
But, we will see very soon... 😃 I don't mind altcoins' slow growth at all... :)
They say the next step is 100K, I don't know how realistic it is. However, I expect a big correction again if ever goes to 100K.(Not a financial advise?
"they" said 100K 4 years ago... heheheh... I don't give nor ask for financial advice... It will be what will be... 😃
Nobody knows and that's a fact :)
Thanks for the report. Yes, I think we're all excited and everything is going very fast up compared to previous cycles. But maybe there is something we don't know?
You are welcome...
@mypathtofire commented exactly something on that topic... NOBODY knows everything (don't want to use "anything", but maybe I could... lol)...
If people KNEW how big would the ETF impact, they would heavily monetize it...
I'm sure that something is going on because new blockchain companies/projects started, I got a few links from a very trusted friend (who worked for Google for some years, and now is a researcher at Columbia University), no aff links, just some new social/blockchain projects started from his colleagues, interesting, but not on Hive level, so I tell him what I'm missing for each project and I get all or more in the Hive 😎
Its time for those who are holding the bag from a long time ago to smile big seeing the new BTC ATH.
it is interesting to see if the cycle will continue, or it will completely change.
!DHEDGE
It will be interesting to observe that, indeed! I can't decide which side to choose... Would it be different, or history will repeat itself?
Everything points out that it is different this time, but we have to wait for the end (if it will be) of the cycle to compare... 😃
Good points.
In my opinion, Speculators would usually pump the market after such movements.
Works like a charm, easily recognizable pattern.
The question is not if alts are going to pump.
They already do.
The question is whether they will remain pumped, and that will depend on many other factors besides BTC price action.
Popularity, use cases...
Not sure about Hive tho, at this moment.
BTC might go 100k.
That still does not guarantee that Hive will go way up and remain there.
So far from what I have gathered Hive is being traded as fun, meme coin.
Regularly pumped and dumped by the Koreans.
I agree, there is great potential for Hive environment, but it won't succeed thanx to the price of BTC or Korean traders (although it does make many things much easier if price of BTC remains high and Hive remains popular with traders) but of own efforts of various Hive communities.
That is what makes this space interesting.
You can grow by your own efforts. Together we grow by our joint efforts and mutual support.
Yup... I see HIVE (healthy) going up ONLY if we have some successful dapp/game as Splinterlands, for example... Maybe Moon Kart, Holozing, or something completely different... we will see...
I'm not so optimistic on the blogging side that can push the HIVE up, but it is needed for the platform to survive...
Thanks for sharing your thoughts! Always great to see how others are thinking :)
Not all tokens are equal, but I don't think many of those that go 5x or 100x will maintain their value. At least Hive has value underneath it and I think it will survive. Price will go up slowly over time.
Thanks for running the pool and for the BEE/STARBITs.
HIVE will survive as there is a community behind it, but we will see where the price will go... Not to zero for sure... 😃
And regarding 5x or 100x, it depends on the starting point... BTC began under $1, and he is at ATH now, and some others too... there will be other tokens that will do similar, make 10x, and stay there, or thrive up...
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BEER.This is actually great to see that bitcoin is quite performing quite well in the market and I strongly believe more and more will still come
I’m very much interested in the price Hive will get to in this bull run
I won’t be surprised if it surpasses $1
I was a bit pessimistic regarding the price, but it could go over $1
Ahh, it's very difficult to solve the market. I'm just going to enjoy it. I read @revisesociology's post and made a plan for myself. I planned what to sell and when to sell it. If things go well, I sell it, if not, I keep holding it.
That's awesome to hear that you created a plan! I know that I did a show on the "profit-taking" plan topic, but maybe I could repeat it as I can see more and more people FOMOing and losing money (already)...
Sounds so easy, but it is harder than it looks... Especially part 2... 😃
Exciting times indeed. Probably a little early, but I have started to take a tiny bit of profits off the table yesterday!
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Well, time will tell if it was too early, or too late... Nobody knows until it happens, so ignore the noise and execute YOUR plan... ;)
If BTC is at a very high level due to large ETF buyers, it goes there and stays (which will probably happen, because ETF funds will not sell off what they bought), retail buyers will not enter BTC, it will be too expensive for them, and how the narrative will be Crypto, retail won't choose what to enter.... I think that's a growth scenario. When gold is unavailable, silver, bronze will be bought...
Yeah, something similar happened in the previous bull cycles... When BTC was too expensive, people bought altcoins... But, some speculators were trading out of BTC into alts... Now, it could be different as many of that BTC will stay "locked" in ETFs... So, the altcoin run could be lower in volatility than it was before, but we will see...
You're saying the funds that move into bitcoin through ETFs aren't degens. You are right. But they do take profits! And when they do, bitcoin is sold. Sure, others may come in their place to fill the demand, but it depends on the price and potential upside too.
As for alts, I agree, ETF funds won't spill over into alts. But there are in the works ETFs for alts (I mean a basket of them, not ETH on its own). If or when they are approved, they will push prices for the respective alts.
Then, many of the people who are really in crypto and not via ETF proxies are still degens. They will continue to spill their bitcoin profits into alts for more gambling ventures. Unfortunately, that's what we are talking about, in many cases, gambling.
You describe it probably better than me... I agree that degens will degen 😂, but there will be no additional "fuel on fire" that was before to shoot those alts at the same heights as before... I mean, some tokens will go up, but not massively as before... Of course, I can be wrong as I was so many times in the past... 😃
Or I just have a PTSD from the last bull cycle when everyone was pumping the story of 100K BTC and HIVE going to 10-20$ 😃
Would you be surprised if BTC doesn't reach 100k in this bull market? I kind of would be. As for HIVE at 10$-20$, I don't see that coming...
Nothing can surprise me, but NOT getting to 100K, in these circumstances, with so many positive vibes around BTC and money flow, would be a huge surprise for everyone...
the price is going up pretty quickly, i guess ur jinx is working
Hahahaha... I hope that in a week I will have another chance to jinx it... 😃
The market is looking strong right now and this time Bitcoin can go from $100,000 to $150,000.