Weekly Thots on Bitcoin - 8/10/2020
thoughts on bitcoin by trevor balthrop for 2020

Weekly Thots on Bitcoin - 8/10/2020

By trevorbalthrop | Trevor Balthrop | 10 Aug 2020

Welcome to another week of Bitcoin! 


Every Monday a new post is published to Publish0x here to discuss current thoughts regarding Bitcoin & Crypto News. 

Each discussion looks at Bitcoin historically, currently, and futuristically

Past, Present, and Future will be used every week to represent thoughts on Bitcoin. 

These are 100% opinions meant to inspire and educate. 


That Hodl Over There = T.H.O.T. = Thought


Here are this week's thoughts about Bitcoin.


Bitcoin's Past

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Bitcoin last week stayed steady after its rise to just over $12k at one point.


Last week the Thots on Bitcoin for 8/3/2020 saw the start of a steep fall from a $12k mark to support areas of around $11.1k




In the news for Bitcoin for the past week, we have seen great things such as:

- Bullish sentiment

- Chainlink soared like a mystical flamingo!

- Ethereum hits $400?

- Young investors like Bitcoin more and old people like Gold more

- Coinbase now supports Human-Readable Domains

- 51% attack nabs $5 million USD in Ethereum Classic ETC

- US Regulators debate how to tax staking cryptocurrencies

- Crypto Mom gets another 5 years

- 2nd largest Bitcoin Whale in history moved $1,114,000,000 USD in BTC

- Watchdog approvals from places like the SEC open the flood gates

- Grayscale launches a crypto ad campaign across major cable news networks


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Bitcoin last month at this time was wiggling around $9k and $9.5k


Last month was a time of uncertainty and the price could have gone either way


Here are a few of the notable things that happened last month:

- Judge rules Bitcoin is a form of money during a court ruling

- Twitter gets "hacked" for celeb accounts and a Bitcoin scam

- Bitcoin was very calm until July 27th where it went from $10k to $11k where it would eventually stay put

- Banks can now officially hold cryptocurrencies like stablecoins on behalf of customers according to OCC ruling


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Bitcoin's Present

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Bitcoin is currently at $11,856.22 USD at the time of this writing

Bitcoin today has seen another go at $12k as the push to break it continues

Bitcoin this week looks like it might continue to range between $11k and $12k USD


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Bitcoin this month is still holding steady after its climb from the $9k range

This month continues to be a great month for Bitcoin as far as News and Price is concerned

Right now Bitcoin is definitely still on the up and up

It would take a strong harsh dump to shove Bitcoin's price down far

Of course, that could still happen at any moment

So it would not be wise to rule this out completely



Bitcoin's Future

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Long term Bitcoin's future is looking better than ever!

Bitcoin for tomorrow looks like it could see another test down for support if $12k cannot be broken

After tomorrow Bitcoin might see another test of $12k at that point

By next week Bitcoin might be past $12k finally, otherwise, it's downtime certainly

Bitcoin in September looks good for new investors as well as expert investors alike

Bitcoin next month will see some really interesting movement either way end

August is a defining moment and will continue to be one for Bitcoin

September will be an even more defining moment as Bitcoin's new wings start to take shape


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Bitcoin is soaring through August!

It will swoop

It will pull

Then by the end of the year, Bitcoin could be in a few spots from what we see now.




Bitcoin at $20k by December?

Highly likely!




Bitcoin at $50k by December?

Possible! Would not count on it




Bitcoin to $6k by December?

Highly likely!




Bitcoin to $9k by December?

Very highly likely!


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Honestly, there is no telling what Bitcoin will end up like next year in 2021

Thoughts on this lean more toward Bitcoin being no lower than where the price is now

With most hopefuls saying the price could be $100k or even $200k USD


By this time next year, there are many legitimate reasons to believe Bitcoin could be worth that much


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Just think for a second.

For exactly one Bitcoin it would be worth $100,000 USD

Insane to think about Bitcoin like that!

Where will Bitcoin be 5-years from now?

Feel free to comment below what you think or feel free to ask questions!


Thank you very much for reading!



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Official Website: https://www.trevorbalthrop.com | Bitcoin ₿ | Blockchain | Author on Urban Dictionary | CEO of www.DrinkingGames.beer | First teenager hired to work for Google back in 2011 |

Trevor Balthrop
Trevor Balthrop

All about Bitcoin, the future of Blockchain, understanding Market Connections, and general Call Outs. Enjoy the hodl life!

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