Bitcoin - 1 million USD (You have never seen this before)
- You see this ascending parallel channel for the first time! The channel is projected from the start of the bull market in 2018 to the end of the bull market in 2021.
- The road to 1 million will be full of traps, liquidations, scams, and frauds. But if you are ready for a roller coaster, you can hold your bitcoins in cold wallets such as Trezor, where they will be frozen to death.
- This is a projection because, of course, no one can predict the halving dates. I want to show you how Bitcoin can behave on the road to 1 million USD.
- This parallel channel should be sustainable over time; there is not too much pressure, and we can reach 1 million in 2037. But for now, we are in 2022, and the current price is 16,500 USD.
- As you can clearly see, Bitcoin could reach 6,500 USD next year to touch the bottom of the parallel channel. I don't see any problem with that.
- Who will get rekt after FTX? Let me know in the comment section right now!
- Bitcoin is extremely volatile and dangerous asset, they said. If you bought the peak, then yes, it's dangerous.
- Thanks for your attention!
Comment:
Bitcoin hashrate is a calculated numerical value that specifies an estimate of how many hashes are being generated by Bitcoin miners trying to solve the current Bitcoin block or any given block.
Hash rate is the measure of the computational power in a proof-of-work (PoW) cryptocurrency network. The hash rate is used to determine the health, security, and mining difficulty of a blockchain network.
The global Bitcoin network hashrate is a calculated value and is measured in hashes per second (H/s).
What happens when the hash rate changes (increases or decreases)?
The hash rate is a gauge of the overall network activity by miners on a proof-of-work (PoW) network. When the hash rate increases, here’s what it means:
More computational resources are being used to mine blocks.
More electrical power is consumed.
The network increases in security, as it becomes too big to overpower by a single entity.
Mining becomes much more difficult, and most blockchain network algorithms increase the difficulty to mine as the hash rate increases.
When the hash rate of a PoW blockchain network decreases, this typically means:
Fewer miners are competing to add blocks and earn block rewards.
The network becomes less secure, and more vulnerable to a 51% attack, which occurs when a group of miners who control more than 50% of the network’s mining hash rate alter the blockchain.
Less power is consumed by mining computers.
Mining difficulty declines, making it easier to mine blocks.