Did The “Bubble” Just Pop?

All across the crypto landscape, there has been red. Massive sell offs amid rumor that the U.S. Treasury will be accusing several financial institutions of money laundering using cryptocurrencies.

This comes a couple of months after Treasury Secretary Janet Yellen says “I don’t think that Bitcoin . . . is widely used as a transaction mechanism.” She continued, “To the extent it is used I fear it’s often for illicit finance…”

It has been a main concern around bitcoin for a while that it could be used for nefarious reasons. Like the recent Russian Election Fraud Scheme

Now the sights have turned from the criminal underworld to the big bad banking cartels. One place that should have been monitored from the start.

Since the rumor spread, Bitcoin dropped from above 60k to the low 50k’s. Other alt-coins have followed a similar route.

A pullback was expected in my opinion and those who have diamond hands probably have this saying in mind, "Buy when there's blood in the streets, even if the blood is your own."

Yes, now is the time to "Buy the rumor, sell the news". As those who may be caught in the crosshairs or those with “paper hands” sell off their positions.

It is likely only a rumor, expertly spread, to drive prices down, to be bought back at a “discount” by those with deep pockets. We shall see when the dust settles and official news hits. Expect new all time highs then.

Key points

• U.S. treasury rumor causes mass selloff of crypto

• Banking institutions probably tied to money laundering

• popular crypto at a discount

Looking forward to what happens next.

Stay bullish Friends

~KP

Bitcoin To Buy Your Next Outfit?

Just a few days after Elon Musk announced you can now buy a Tesla with Bitcoin. Popular payment processor PayPay, will now let users buy goods with their Bitcoin.

This is another big move forward for crypto enthusiasts, and a conversation stopper for those who say Bitcoin cant be used to buy anything outright.

How is this possible?

If you are shopping online and decide to checkout with PayPal, you could then use your bitcoin, ether, bitcoin cash or litecoin, to be converted into fiat currencies. Provided you have them in your PayPal wallet.

Who Can Access this?

At the moment only U.S. customers can utilize the service. In the Coming months, all of their merchants will be able to accept crypto as well.

This is the first time you can use crypto as easily as you would a credit or debit card. Also a plus for PayPal users who were recently granted the ability to buy and hold crypto in their digital wallets.

There wont be a fee to make the transaction, and only one coin can be use to fund each transaction.

Whats next?

The price of Bitcoin has almost doubled since the start of the year. As more institutions implement Bitcoin and other crypto into their functions, the rise of crypto checkouts will continue. PayPay hopes to be the forerunner of that.

Bitcoin Crosses $50k

We Have Lift Off

Money printer goes brrrrr; as bitcoin continues its meteoric rise to the “moon”. Many in the wall st. world are still not considering it as a store of value. Even as the price rises, it may still not be too late for the average person to get in on it.

What is driving the price?

Thanks to the public adoption and subsequent twitter posts from Elon Musk (https://www.cnbc.com/2021/01/29/bitcoin-spikes-20percent-after-elon-musk-adds-bitcoin-to-his-twitter-bio.html) and other internet personalities, a new wave of investors are starting to adopt the crypto currency.

Bright future?

While most of the old money in Wall St. is skeptical now, that may not be the case for long. Apple is talked about to be the next company besides Tesla to announce that they hold bitcoin . If they don’t already.

Are you hodling?

If you aren’t familiar with the term. What it means to hodl is “hold on for dear life”. In the case of crypto, time has shown favor to those who held onto their coins.

Start small

Instead of trying to buy a whole coin, you could start with small amounts. The smallest amount is 1 satoshi. 1 BTC = 100 million satoshi. Keep stacking sats!

Key Take Away

1. Bitcoin reaches over $50,000 for the first time

2. Adopted by big name public companies and figures

3. Apple looked at as next company to hold bitcoin

4. HODL = Hold On for Dear Life