 | Hi all. I thought I'd just do a basic recap on BTC of the last month! It's been pretty flat, hasn't it. Despite FED meetings, doubts around Binance and if they will continue to trade in various parts of the World, XRP continuing to piss off the SEC, and the SEC's multiple on-going legal proceedings against multiple Crypto's. We've also got one of the sub's beloved token in Polygon($MATIC) planning to change the token with further use cases (threads across the sub from people more intelligent than I) It's a strange day to do it, I hear you ask. It's not the start of the month; it's not the middle of the month. I agree, but I thought it was a good day for anyone who happened to buy a chunk of BTC on this day last month? I happened to be someone like that, and bought 0.1312 BTC last month ($3500) after I sold my motorcycle (It was a 2014 Yamaha XJ6N with a Titanium Race System and I loved it), but that's already too much about me! As I live in the UK, I'll also take into inflation, as that's what BTC is a hedge against, right? In the UK our inflation kinda sucks. Over the past year we've been around 7% average CPI, however, for the period of September 2022 through until March 2023, month on month our inflation data was over 10%. Our inflation data was released yesterday where it has taken an expected 'drop' from 6.8% to 6.7%. Great news. Better news that our economists weren't expecting it; we do really have the best people in the most important jobs, don't we! Let's do a little recap!
Since that day, we've gone up $100 in value, a gain of 0.5% which funnily enough is roughly what 6% inflation would have eroded over a monthly basis. However, I bought later in the day around $26700 so I'm actually ever so slightly down. We've had a 11.5% swing from the Top (30 August) to the low on 11 September (a day which for completely other reasons will forever stick on all of our minds) So right now, if we were to choose an arbitrary number, let's say $3500 on Day 1, that value right now, is sitting at $3496. A $4 loss over a 30 day period. Now, I have my own beliefs, but I genuinely think that this 0.1312 BTC could reach something like $15-$20k once we get a rocking and a rollin' in the Bull Market. $150k BTC? Sure, let's go. See you in a month!! Love you all <3 [link] [comments] |
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