Bitcoin's acceleration's evaluation Bitcoin's rise has been accelerating the entire weekend
$77,339 11 PM Eastern Standard Time Friday (EST) 11/08/24
$81,068 11PM EST (10 PM CST)
A half hour later it was $81,900: Another all-time high
When it climbs this fast it usually backs off for a day or two, but then goes even higher.
I've noticed that although HIVE also backs off, lately it turns around and starts back up even while bitcoin is still going down.
People are convinced that bitcoin is going to keep going higher. Big institutions are starting to buy bitcoins, even governments and central banks.
Therefore, people, and institutions, including hedge funds, are buying HIVE.
HIVE is the ONLY BITCOIN MINER THAT USES CARBON FREE ENERGY SUCH AS HYDROELECTRIC POWER SOURCES.
That is important because more and more people, including government regulators, are complaining louder and louder that bitcoin miners use massive amounts of electricity, electricity that is generated by fossil fuels such as natural gas. And that this is contributing to global warming.
They are threatening to insist that bitcoin miners start to use carbon free power sources. Guess who that is.
Hmmm, HIVE anyone?
By the way, HIVE keeps all the bitcoins that they mine. At last count they had 2,624 bitcoins, up 51% from this time last year. At $81,000 each = $212 million.
HIVE is building a 100-megawatt mining facility in Paraguay. That will significantly increase their bitcoin production.
Considering that HIVE increased its bitcoin total by 51% this year, with their new site, which will increase their production of bitcoins, by this time next year, they should have accumulated at least 4,000 bitcoins, and probably much more.
Who knows what bitcoin's price will be then? Even a small rise from here will mean that HIVE will have hundreds of millions of dollars' worth of bitcoins.
People, institutions, hedge funds etc. know that.
Bitcoin's price is going to soar from here.
Hold on to your hats!