Bringing Billions to Blockchain via Quantum Poodles\u2122Bitcoin Demand ExplodingA number of luminaries have been making bold statements or taking action. Blackrock\u2019s CIO says bitcoin could replace gold to a large extent. Jack Dorsey\u2019s company Square has a Cash App that is estimated to be buying around 40% of all newly-issued bitcoin. Meanwhile, customers can now buy, sell, and hold cryptocurrency directly from their PayPal accounts. With its 300 million active users, this will have a big impact on bitcoin as the number of currently bitcoin users before the PayPal announcement was around 100 million. This took 12 years to achieve, with the number of users roughly doubling each year, and no signs of this slowing especially with all the institutional capital now starting to buy bitcoin. This suggests the current bull market is more sustainable than the one in 2017 when bitcoin reached old highs of 1163 in Feb-2017. Ready to surf the tsunami?Now that PayPal has pivoted, volume has exploded showing PayPal is already buying almost 70% of the new supply of bitcoins. When combined with Cash App also buying bitcoin, both will want to buy more than 100% of all newly-issued bitcoins.This suggests enormous new buying pressure which should propel bitcoin higher. As other companies and institutions buy bitcoin, supply will become even more scarce.History Can Work Against YouAs bitcoin reached new highs, many are making predictions as it is commonly believed that bitcoin may correct 30\u201340% as it has a number of times in its price history whenever it hit new all-time highs after basing for many months or longer. But when it comes to making price predictions, history can work against you. Many said bitcoin had to close the trading gap in price it made earlier this year because it had always done so on the\u2026<\/p>","protected":false},"excerpt":{"rendered":"
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