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BTC Coin supply/demand fundamentals ......
Following the May 2020 Bitcoin halfing, only aprx. 900 new BTC Coins are now minted every day, however, demand for BTC coins has skyrocketed over the past few months, influenced heavily by the accelerated societal shift to online life/commerce due to Covid ... in just the past few months, demand for Bitcoin has grown to vastly outstrip the supply of new BTC coins hitting the market, for example, just the top 3 entities alone buying Bitcoin are now consuming aprox. 2.18 times more than the number of new BTC coins being minted each day ......
Just The Top 3 Entities Buying BTC Coins ......
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* PayPal is consuming aprox. 70% of the new supply of BTC being minted
* CashApp is consuming aprox. 40% of the new supply of BTC being minted
* GrayScale is consuming aprox. 118% of the new supply of BTC being minted
..... just the 3 above mentioned entities alone are now consuming aprox. 218% of the new supply of BTC coins being minted ... which has created major demand crunch on the remaining BTC coins for the rest of the global buyer marketplace
While Covid has destroyed many different types of businesses and industries, and fundamentally shifted the way every industry on the planet works; Covid has dramatically accelerated the rate of Bitcoin adoption forward by multiple years within months
2crsi financing program .....
* Financing from 2 to 5 years
* You're not the owner of the hardware
* When the contract is over, you give the server back, or you can keep renting it for a longer period .....
https://2crsi.com/finance-by-2crsi/
Even if Bitcoin consolidates to $20k ... the margins are still extremely good at $6k per coin in electricity costs
Something we may be seeing more of soon in the Bitcoin news cycle; news that Bitcoin may be seeing shortages on exchanges due to mass global adoption and ultra strong demand ....
Crypto trading volumes running 25x times higher than same time last year at eToro exchange .....
"In just the last 11 days, eToro has opened 380,000 new accounts, and its crypto-trading volume is running 25 times higher than the same period in 2020" .....
https://www.bloomberg.com/news/articles/2021-01-13/bitcoin-btc-usd-etoro-warns-investors-it-may-limit-buy-orders-this-weekend
RE; Apparently ... a shortage of Bitcoin on the exchanges may be developing due to strong demand .....
In a newly published report, crypto investment firm Pantera Capital says a Bitcoin shortage is at the heart of the recent price surge and that the majority of newly minted BTC is being scooped up by PayPal ... the payment processor alone is snatching up roughly 70% of all the new BTC put into circulation ....
https://cointelegraph.com/news/bitcoin-shortage-is-real-and-paypal-is-the-cause-pantera-capital-claims
Apparently ... a shortage of Bitcoin on the exchanges may be developing due to strong demand .....
The Wall Street media narrative is a possible Yield Curve steepening bias in the FED minutes today ... which in theory is supposed to lead to a increase in nominal US Dollar value ... the problem for the FED is; the US economy is essentially toast (earnings have been savaged), and rising yields will sink the Titanic even quicker - hence the stock market sell-off end of day today
Big news out folks ... Buffett has just entered the P.M. market for the first time in 23 years ...
https://www.bloomberg.com/news/articles/2020-08-14/buffett-s-gold-averse-berkshire-jumps-into-a-big-bullion-miner
The lack of retail participation in MXSG & it's underperformance to Gold is signalling; people staying out of MXSG because they don't want to get dumped on/diluted by the Toxic Diluters ...
https://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=Stock&symb=mxsg&time=8&startdate=1%2F4%2F1999&enddate=8%2F8%2F2020&freq=1&compidx=aaaaa%3A0&comptemptext=gld&comp=gld&ma=0&maval=9&uf=0&lf=1&lf2=0&lf3=0&type=2&style=320&size=2&x=34&y=13&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=12
As of the 3rd delivery intent day of Aug, there are now 39,912 contracts delivered in the COMEX August gold contract, representing 124 tonnes ... an increase of 22 tons in just 2 days ...
As of third delivery intent day, there are now 39,912 contracts delivered in the COMEX August gold contract, representing 124 tonnes of gold in COMEX vaults. https://t.co/xWfSem2pak
— BullionStar (@BullionStar) August 4, 2020
BTC weekly chart just barely getting going ... weekly charts better for trend analysis because they remove the daily noise ...
http://schrts.co/MJiKherY
Higher lows on the weekly ... increasing volume ... rising RSI in low 50's ... MACD lines close to flipping positive ... 40 mil. float ... Bitcoin now in rising trend ...
http://schrts.co/tQxugwAV
Yes ... i live in Canada ... both Abcourt & Starcore are producers ... both have lagged the Seniors ... people are starting to look further down the food chain now; ie: Abcourt out-performed every major today with a +20% today - and market may re-price it soon for a $2k Gold price ... both have US listings, but the CDN exchange is several times more liquid.
Another Jr. producer that's lagged is Starcore Intl ... it's starting to get a bit of volume - 19 cents CDN, and low market cap, and low OS ... Canadian based Jr. producer with producing mine in Mexico ... SAM on TSX
Abcourt Mines has been left behind ... but is starting to get some volume ... a Canadian Jr. producer at current price of 15 cents CDN ... not a moose pasture play ... and just starting to break out of a 8 year downtrend consolidation ... ABI on the TSXV
The Helicopter Money drops will continue ...
https://www.cnbc.com/2020/07/26/mnuchin-says-1-trillion-gop-coronavirus-relief-plan-ready.html
On the Bullish side of the argument ... we appear to have truly entered the era of "helicopter money" ... so, if the federal govt's are going to keep shipping aprox. $600 a week to the unemployed to avoid a depression, we may see something from Gold we've never seen before ... furthermore, i can't see Trump ending the helicopter money until after the election ... ending the helicopter money for 50 million newly unemployed just a month or 2 before the election would be disastrous for votes, particularly with CV19 making a comeback and weakening the so-called re-start ... the FED/Govt are boxed in right now; it's helicopter money or implode.
Very very thin trades ... i'd classify the open in between 1,905-to-1,910 ... could easily eclispe the $1,950 range shortly after the FED meeting on wed., imo.
FED meeting on the 29th (Wed.) ... so, typically you get weakness going into a FED meeting, so don't be surprised if the metals take a bit of a breather until after the meeting ... a dove'ish statement from the FED that soothes the market could be the catalyst for a move to $2k
Junior Miners now clearly in the leadership position over the Seniors when measured on a short-term basis ...
https://on.mktw.net/300oKP4
Bank of America now warning; Buying Gold Is The Only Hedge Left For The "Great Debasement" ...
https://www.zerohedge.com/markets/buying-gold-only-hedge-left-great-debasement
If $1,900 Gold can't wake up MXSG, that isn't very good ..... if i was you, i'd move some into the stock that the Cork has mentioned here a number of times, which is GGGOF(US) or GG(CDN); as it's reacting good to the higher Gold price, and the way it's trading - it's signalling the float is very close to being locked up.
Super small float of only 8.4 million shares ... total OS only 11.5 mil ... there's something to be said for small OS stocks
Goldman Sachs now loading the Gold boat???? ....
The toxic diluter Vega has tens of millions of shares to dump into the bid ... price going nowhere fast
The Toxic Dilution Lenders killed the stock ... and it looks like the toxic diluter is still dumping ... many people loose money on these penny mining stocks that are in bed with toxic diluters even when the Gold price goes up because; the toxic diluters just keep dumping their discounted shares into the bid ... and unfortunately, the Noobs don't understand the dynamics at play behind the scene in regards to how the toxic dilution financing craters the share price with their discounted shares constantly being dumped into the bid - even when the Gold price is going up.
The S.P. has a challenge going up because the Toxic Diluter is methodically dumping his shares into the bid to pay-off the Toxic debt/loan ... it's a constant headwind.
Unfortunately, it looks like this issue is going to suffer from further DILUTION-POLLUTION.
Extreme COMEX Delivery Demand Continues ...
https://www.sprottmoney.com/Blog/extreme-comex-delivery-demand-continues-craig-hemke-june-30-2020.html