Bitcoin balances on exchanges are at record lows!
In the beginning of 2024, the total Bitcoin held across all cryptocurrency exchanges stood at approximately 2,720,000 BTC.
Fast forward nine months, and this figure has plummeted to a record low of just 2,340,000 BTC. This marks a significant reduction of 380,000 BTC—a 14% drop in available Bitcoin on exchanges.
What does this mean for the market?
Supply Crunch in the Making We know that only 450 new Bitcoin are mined and introduced to the market each day, totaling 164,250 BTC annually. The drop of 380,000 BTC in just 9 months means that exchanges have lost a whopping 2.3 years’ worth of new supply.
This reduction in exchange balances is not just a number on a chart—it's a sign that the available supply of Bitcoin for buyers is shrinking faster than it's being replenished. As we know, the basic law of supply and demand tells us that when demand stays constant or rises while supply shrinks, prices tend to surge. This is now evident in October and now November where Bitcoin has pushed over 46.42% in these months from $92,337 AUD per coin, to $135,352 per coin.
Demand on the Horizon? Bitcoin is unique in its limited supply, with only 21 million BTC to ever exist. As more investors and institutions remove their coins from exchanges, signaling long-term holding strategies, the available supply for buyers diminishes even further. If demand picks up as we head into the next Bitcoin halving in 2024, we could witness explosive price action as the forces of demand begin to overpower the shrinking supply.
Are you prepared for what’s to come?
Key Takeaway: The reduction in exchange Bitcoin balances points toward a possible supply squeeze.
With demand likely to rise over time, this creates the perfect storm for Bitcoin prices to make substantial moves.
Stay tuned and keep accumulating—because when supply tightens, history shows that explosive moves follow.
Thank you for reading.
Welcome to the Australian BTCCLUB!
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Comparing the Australian Cryptocurrency and Bitcoin Only Exchanges - Who is cheapest?
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What is Bitcoin?
Today, we’re diving deep into why Bitcoin is such an incredible innovation. Satoshi Nakamoto didn’t invent cryptography or even peer-to-peer networks. Instead, Bitcoin is a combination of multiple technologies, all brought together in a unique way. Let’s break down what makes Bitcoin so special.
1. Cryptography: Public and Private Keys
Only the owner can spend their Bitcoin using a private and public key, ensuring secure ownership and control.
2. The Blockchain: A Transparent, Immutable Ledger
Bitcoin operates on an open, transparent ledger called the blockchain, where all transactions are recorded for everyone to see, building trust in the system.
3. Proof of Work: Ensuring Network Security
Bitcoin miners use energy to solve complex puzzles every 10 minutes. As a reward, they earn Bitcoin, which incentivizes more computers to join. This increases the network’s hash power, further securing the system as miners verify the transactions within each block.
4. Difficulty Adjustment: Balancing the Block Time
Every 2 weeks, the network automatically adjusts the difficulty to keep block creation steady at 10 minutes. If more miners join and blocks are solved too fast, the puzzle gets harder. If miners leave, the puzzle gets easier to maintain the 10-minute block time.
5. Block Size and Scalability
Satoshi limited the block size to 1MB to ensure the network remained efficient and secure, allowing Bitcoin to scale at a steady, linear pace.
6. Decentralization: No Single Point of Control
Bitcoin has no central authority. The network is secured by thousands of independent nodes worldwide, and anyone can run a node from home, contributing to the network's security.
7. The Protocol: Unstoppable, Like the Internet or Email
Bitcoin’s protocol has no IP or central ownership. Like the internet or email, it’s decentralized and cannot be shut down by any single entity.
8. Digital Scarcity: A Fixed Supply of 21 Million Bitcoins
There will only ever be 21 million Bitcoin, creating guaranteed scarcity. Bitcoin is the only digital asset with a fixed supply, making it deflationary over time.
9. Peer-to-Peer Network: No Intermediaries
Bitcoin allows people to send value directly to one another, peer to peer, without needing any authority or intermediary. These transactions are what miners verify in the blocks.
10. Incentives and Halving
Miners are rewarded with newly created Bitcoin, but every four years, this reward is halved. This event, known as the "halving," reduces the supply of new Bitcoin entering the market, driving its scarcity and supporting its long-term value.
Thank you for reading.
Welcome to the Australian BTCCLUB!
Are you looking for any tools or which Australian Bitcoin exchange to buy or sell? Look no further!
Comparing the Australian Cryptocurrency and Bitcoin Only Exchanges - Who is cheapest?
Looking for a cold storage device to secure your Bitcoin? Blockstream Jade Shop
Checkout our upcoming live stream events for our exclusive Bitcoin giveaways and games valued up to $2,500 in BTCAUD: Promotions Page
Become a member and gain access to:
⚡ Member Portal Login.
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⚡ VIP Member Only Draws.
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⚡ Bitcoin Starters Guide One Page Checklist on Signup.
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When it comes to Bitcoin, security and accessibility are crucial. One common concern that many Bitcoin holders have is the fear of losing access to their funds if their wallet provider goes out of business or disappears. In this post, we’ll explore how Bitcoin seed phrases work, how to import your wallet across different providers, and why your Bitcoin is always safe as long as you have your seed phrase.
A Bitcoin seed phrase is a set of 12 or 24 words generated by your wallet that gives you access to your Bitcoin. Think of it as the master key to your Bitcoin. It’s not tied to any specific wallet provider, meaning that as long as you have your seed phrase, you can access your Bitcoin from any compatible wallet.
Many people mistakenly believe that their Bitcoin is stored within their wallet provider’s platform. In reality, the wallet provider simply acts as an interface for accessing the Bitcoin network. Your actual Bitcoin is stored on the blockchain, and the seed phrase is what links you to your funds. This means that even if your wallet provider goes bust or disappears, your Bitcoin is still safe—as long as you have your seed phrase.
Since your seed phrase is the key to your Bitcoin, it’s vital to protect it. Here are some essential tips:
To demonstrate how seed phrases work, let’s walk through an example using two popular Bitcoin wallets: Blue Wallet and Aqua Wallet. (we are not affiliated with either of these wallets.)
Both of these wallets support Bitcoin and Layer 2 Lightning for fast and low-cost transactions.
Your Bitcoin’s security depends on your seed phrase, not your wallet provider. By understanding and protecting your seed phrase, you can ensure that your Bitcoin remains safe and accessible, no matter which wallet you use. Always remember to keep your seed phrase secure, and you’ll have peace of mind knowing that your Bitcoin is safe.
For a video walk through, please visit the Youtube tutorial: Importing a Bitcoin Seed Phrase Across Two Bitcoin Wallets To Locate Your Bitcoin.
Thank you for reading.
Welcome to the Australian BTCCLUB!
Are you looking for any tools or which Australian Bitcoin exchange to buy or sell? Look no further!
Comparing the Australian Cryptocurrency and Bitcoin Only Exchanges - Who is cheapest?
Looking for a cold storage device to secure your Bitcoin? Blockstream Jade Shop
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Become a member and gain access to:
⚡ Member Portal Login.
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⚡ VIP Member Only Draws.
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⚡ Exclusive Discounts with Partners Including 10% off Blockstream Jade & HardBlock Exchange Offer.
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1 Bitcoin to AUD live price can be found on our Promotions page - Live 1 Bitcoin to aud price
BTCCLUB also offers a free Bitcoin Currency Converter. Here you can use the calculator to convert Bitcoin to AUD, USD, EUR, GBP & NZD.
1 Bitcoin to aud is currently sitting at a market price of $106,957 at the time of writing.
Thank you for reading.
Become to the Australian BTCCLUB!
Are you looking for any tools or which Australian Bitcoin exchange to buy or sell? Look no further!
Comparing the Australian Cryptocurrency and Bitcoin Only Exchanges - Who is cheapest?
Looking for a cold storage device to secure your Bitcoin? Blockstream Jade Shop
Checkout our upcoming live stream events: Promotions Page
Become a member and gain access to:
⚡ Member Portal Login.
⚡ Automatically entered into Every bitcoin Draw.
⚡ Your Entries Into Draws Never Expire and Roll Into Next Month.
⚡ VIP Member Only Draws.
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⚡ Exclusive Discounts with Partners Including 10% off Blockstream Jade & HardBlock Exchange Offer.
⚡ Bitcoin Starters Guide One Page Checklist on Signup.
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By the end of this read, you will know the ratios of DEBT/GDP risk and the total gold held in treasury versus their M1 money supply.
Firstly, let's look at each item:
National Debt: The total money a government owes to entities such as central or global banks, the IMF, foreign governments, and companies. The national debt also includes interest payments.
GDP (Gross Domestic Product): The total value of goods and services produced in a country. It's akin to adding up all the price tags of cars, food, computers, minerals like gold or oil, produced by a country, and determining the country's wealth.
M1 Money Supply: M1 money supply includes physical cash, coins, and demand deposits (like checking accounts) easily accessible for spending. It does NOT include term deposits. M1 represents liquid cash.
It's no secret that the US is indebted up to their eyeballs and continues to add to their national debt by funding interest on the debt (yes, you read that right. They borrow to pay interest on the debt they already have), defense & wars, bonds, public infrastructure, healthcare, economic stimulus, and much more.
DEBT / GDP is a calculation used to understand the health of a country, or a company for that matter. The lower the DEBT/GDP ratio, the healthier the balance sheet; vice versa, the higher the ratio, the riskier the balance sheet. A debt-to-GDP ratio over 100% suggests that the country is heavily indebted relative to its economic output. This can be a concern because it indicates the country might struggle to pay off its debt without significant economic growth or changes in fiscal policy.
Russia
The national debt stands at $425.7 billion US dollars, with a GDP of $2.192 trillion US dollars. Russia is a powerhouse when it comes to resources like energy, in terms of oil and gas. It's also rich in precious metals and is one of the largest exporters of military equipment. Furthermore, it's a major producer of agriculture and manufacturing goods.
The GDP value of the country is 5.15 times their national debt, resulting in a DEBT/GDP ratio of 19.4%.
China
National Debt: $14.4 trillion US dollars.
GDP: $17.6 trillion US dollars.
DEBT/GDP ratio: 81.8% - Despite the high ratio, China continues to outproduce its debt. However, a looming risk is its declining population, with analysts forecasting a halving by 2050.
Australia - Let's look at our backyards ratio!
National Debt: $1.2 trillion US dollars.
GDP: $1.8 trillion US dollars (Phewww ~ wipes sweat~)
DEBT/GDP ratio: 66.66% - The three factors to consider here are our rich resources in iron ore, gold, coal, and natural gas, immigration/international students, and beef and agriculture.
Now we look at the higher risk countries.
United States of America - The USA, the big shot on the global stage, flaunting its currency like it's the coolest kid in school. But guess what? That flashy currency comes with a surprise accessory - a hefty ball and chain strapped to its ankles!
National Debt: $34.76 trillion US dollars.
GDP: $28.43 trillion US dollars.
DEBT/GDP ratio: 122.2% - As stated above. "A debt-to-GDP ratio over 100% suggests that the country is heavily indebted, ...country might struggle to pay off its debt".
Japan
National Debt: $14.42 trillion US dollars.
GDP: $4.49 trillion US dollars.
DEBT/GDP ratio: 321%!!! - In Japan, over 43.3% of the national debt is held domestically, including by entities like the Bank of Japan. Simultaneously, Japan is a major holder of U.S. Treasury bonds. This reflects a unique economic dynamic where Japan acts as both debtor and creditor on the global stage.
M1 MONEY SUPPLY - "It's only when the tide goes out that you discover who's been swimming naked." - Charlie Mangar
In 1971, the reserve currency of the world, the US dollar, split from the gold standard, resulting in a fast pace of money printing like we had never seen before. In 2008, the global financial crisis (GFC) devastated ordinary people, while those responsible were bailed out. Thankfully, Satoshi Nakamoto gifted the world Bitcoin shortly after to hedge against such stupidity. Then in 2020, Covid-19 surfaced, leaving the US government to print, print, print, brrrrrrrrrrrrrrrrr.
Here is a table from 2008, 2020 to 2024 on the M1 money supply in US Billions.
Four of the five countries are reporting inflation most years at 3-4%, while their M1 money supply tells us a different story. Japan has the lowest inflation rate at 9.20% per annum for 16 years, with Russia, China, and Australia averaging 12% per annum in money expansion for the same period. And now, brace yourselves for the US... with a 23.7% expansion per year, of which there has been a 322% increase from 2020 to 2024. The top 1% in the US are content, while the lower class is experiencing a new era of depression.
Now, in terms of GOLD inventories, most of these nations are nowhere near a sovereign standard. However, Russia has quite the impressive stash, with 36% or 1/3 of their cash reserves backed by gold. It makes you wonder: why did the West start a war with Russia?
Bitcoin is scarce and is already being mined at a slower inflationary rate than gold per annum, and this is set to drastically reduce every 4 years. Bitcoin functions as money, is finite, borderless, and addresses the issue of decaying wealth. It's not difficult to observe what has happened since the gold standard, the GFC, and Covid. You need to work harder, longer, and sacrifice the time you spend with your family to chase your decaying dollar. Australia's dollar has inflated on average by 7.17% every year since 1975, and 11.85% every year since the GFC. If you haven't noticed how challenging it's becoming, hopefully, this helps. Share it with your friends and family.
In a world of chaos, Bitcoin brings order.
Thank you for reading.
Are you looking for any tools or which Australian Bitcoin exchange to buy or sell? Look no further!
Comparing the Australian Cryptocurrency and Bitcoin Only Exchanges - Who is cheapest?
Looking for a cold storage device to secure your Bitcoin? Blockstream Jade Shop
Checkout our upcoming live stream events: Promotions Page
Become a member and gain access to:
⚡ Member Portal Login.
⚡ Automatically entered into Every bitcoin Draw.
⚡ Your Entries Into Draws Never Expire and Roll Into Next Month.
⚡ VIP Member Only Draws.
⚡ Participate In All Live Stream Bitcoin Games.
⚡ Exclusive Discounts with Partners Including 10% off Blockstream Jade & HardBlock Exchange Offer.
⚡ Bitcoin Starters Guide One Page Checklist on Signup.
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⚡ Notifications When We Buy / Sell bitcoin... Joke! We Only Buy!!!
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References:
https://www.usdebtclock.org/index.html
https://tradingeconomics.com/china/money-supply-m1
https://tradingeconomics.com/russia/money-supply-m1
https://tradingeconomics.com/japan/money-supply-m1
https://tradingeconomics.com/united-states/money-supply-m1
https://tradingeconomics.com/australia/money-supply-m1
The one in four year Bitcoin halving finalized on the 19th of April 2024, and this highly anticipated event has yet to take effect. Why so?
There are 32 total halvings scheduled in the next 112 years, and 4 have complated.
What does this mean?
Every four years, less and less bitcoin (small "b" refers to the coin, uppercase "B" refers to the network) enter the market from it's total 21,000,000 supply.
In the beginning, there was a treasury wallet with 21,000,000 total bitcoin.
A fixed small portion would enter the market every 10 minutes from a technique called "mining" from this treasury.
Every 10 minutes there is a block, and there are 144 blocks in a day.
Genesis Blocks: 2009 - 2012:
50 bitcoin per block
7,200 per day
2,628,000 per year
Total mined by 2012: 10,512,000 bitcoin of the full supply or 50%
1st Halving: 2012 - 2016: 50 bitcoin drops to 25 bitcoin (half)
25 bitcoin per block
3,600 per day
1,314,000 per year
Total mined by 2016: 15,768,000 bitcoin of the full supply or 75%
2nd Halving: 2016 - 2020: 25 bitcoin drops to 12.5 bitcoin (half)
12.5 bitcoin per block
1,800 per day
657,000 per year
Total mined by 2020: 18,396,000 bitcoin of the full supply or 87.6%
3rd Halving: 2020 - 2024: 12.5 bitcoin drops to 6.25 bitcoin (half)
6.25 bitcoin per block
900 per day
328,500 per year
Total mined by 2024: 19,710,000 bitcoin of the full supply or 93.8%
4th Halving: 2024 - 2028: 6.25 bitcoin drops to 3.125 bitcoin (half) CURRENT
3.125 bitcoin per block
450 per day
164,250 per year
Total mined by 2028: 20,367,000 bitcoin of the full supply or 96.9%
5th Halving: 2028 - 2032: 3.125 bitcoin drops to 1.5625 bitcoin (half)
1.5625 bitcoin per block
225 per day
82,125 per year
Total mined by 2028: 20,695,000 bitcoin of the full Bitcoin's Supply or 98.55%
This will continue until there is 0 bitcoin left in the treasury.
By the year 2034, 99% of all bitcoin would have been mined.
Let me blow your mind.
The remaining 1% of Bitcoin's supply will be released over 100 years.
This is why it's NOT TOO LATE!
How many days after a bitcoin halving does it take for price to start moving? Read the blog here as we dissect the possibilities.
https://btcclub.com.au/days-until-bitcoins-price-moves/
Bitcoin Saves Our Future.
Thank you for reading.
Are you looking for any tools or which Australian Bitcoin exchange to buy or sell? Look no further!
Comparing the Australian Cryptocurrency and Bitcoin Only Exchanges - Who is cheapest?
Looking for a cold storage device to secure your Bitcoin? Blockstream Jade Shop
Checkout our upcoming live stream events: Promotions Page
Become a member and gain access to:
⚡ Member Portal Login.
⚡ Automatically entered into Every bitcoin Draw.
⚡ Your Entries Into Draws Never Expire and Roll Into Next Month.
⚡ VIP Member Only Draws.
⚡ Participate In All Live Stream Bitcoin Games.
⚡ Exclusive Discounts with Partners Including 10% off Blockstream Jade & HardBlock Exchange Offer.
⚡ Bitcoin Starters Guide One Page Checklist on Signup.
⚡ Weekly Bitcoin Report / Data Email.
⚡ Notifications When We Buy / Sell bitcoin... Joke! We Only Buy!!!
⚡ Invites to Private Events and Webinars.
Memberships Start from $9 per month in fiat, cancel anytime.
The Australian Money Supply M1 comprises physical currency and demand deposits, representing the most liquid forms of money readily available for transactions. It excludes less liquid assets like term deposits. Central banks monitor M1 to gauge immediate liquidity in the economy, guiding monetary policy decisions accordingly.
Australia adhered to the gold standard until 1931, pegging its currency to the British pound, which was also backed by gold until the British government abandoned the gold standard in the same year.
The Reserve Bank of Australia commenced operations on the 14th of January 1960. From 1960 to 1975, Australia held approximately $8.269 billion AUD in money reserves (M1) as it broke away from the British pound in 1966. Australians embarked on a new currency journey with their native Australian Dollar.
From 1975 to 1990, the Australian money supply had increased to $43.51bil, or 419.74%, an average of $2.3 billion, or 7.7% per annum, reflects the consequence of adopting an unbacked currency. This flexibility allows for significant adjustments.
The US abandoned the gold standard in 1971, allowing for unrestricted money printing as the world's reserve currency. Consequently, other countries were compelled to follow suit, leading to an escalation of uncontrollable debt. Starting from 1990, it begins to exponentially accelerate.
From 1990 to 2016, Australia printed $700 billion dollars, marking a 1,644% increase over 26 years, or an average inflation rate of 7.17% annually. (To real estate owners: your property may have increased over time, but only at the rate of inflation. Here is the evidence. If property doubles in value every 10 years, so does the money supply).
From 2016 to 2024, the entire M1 supply doubled to $1.67 trillion. It took 40 years to reach $700 billion, but only 5 years to double it and then some, increasing by 2.3 times.
Bitcoin has been the only asset class to not only beat, but perform at multples of this obsurd money value diltuions. From 2016 to 2014, Bitcoin's price is up 10,613%, or an average gain 28.4% every year.
Another interesting finding was the migration / student visa numbers.
One incredible aspect of Australia is its multiculturalism. We are enriched by a diverse array of foods, cultures, and ideologies from around the world. Immigration is vital, offering people a chance at a better life, and we embrace it. However, we prioritize sustainability in our approach to immigration.
Australia's immigration estimate was approximately 600,000 from Jun 2021 to June 2023, increasing Australia's population by 2.6%, and a further 375,000 expected from June 2023 to June 2024.
Australia's GDP per person is $66,300 on avg. What does this mean?
Each person in Australia is expected to generate $66,300 of goods and/or services for the country per annum.
If a person is generating less than the average, they would contribute less economic value to the country. Conversely, if they are generating more than the average, the country advances economically each year as a result.
If we mulitply 700,000 (immigrants) x $66,000 (GDP) = $46.2 bil
In this time, Australia has increased the M1 money supply by $50 bil
Has the RBA backed their most recent currency move by immigration?
Bitcoin Saves Our Future.
Thank you for reading.
Are you looking for any tools or which Australian Bitcoin exchange to buy or sell? Look no further!
Bitcoin Converter
Comparing the Australian Cryptocurrency and Bitcoin Only Exchanges - Who is cheapest?
Looking for a cold storage device to secure your Bitcoin? Blockstream Jade Shop
Checkout our upcoming live stream events: Promotions Page
Become a member and gain access to:
⚡ Member Portal Login.
⚡ Automatically entered into Every bitcoin Draw.
⚡ Your Entries Into Draws Never Expire and Roll Into Next Month.
⚡ VIP Member Only Draws.
⚡ Participate In All Live Stream Bitcoin Games.
⚡ Exclusive Discounts with Partners Including 10% off Blockstream Jade & HardBlock Exchange Offer.
⚡ Bitcoin Starters Guide One Page Checklist on Signup.
⚡ Weekly Bitcoin Report / Data Email.
⚡ Notifications When We Buy / Sell bitcoin... Joke! We Only Buy!!!
⚡ Invites to Private Events and Webinars.
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References:
https://tradingeconomics.com/australia/money-supply-m1
Australian Population
Australian Immigration
Australian Immigration Expectation
How many days until bitcoin's price moves into new major multiples?
By the end of this blog, you'll have information on:
⚡ Dates of each bitcoin halving.
⚡ The approximate price at every halving.
⚡ How long did it take for price to move after a halving.
⚡ How long did it take to break its previous All Time High price.
⚡ How long did the price run for in days and percentage.
⚡ When can we expect the price to move in 2024.
⚡ Has all of this happened before?
If you want answers to those questions, you made it to the right place.
Halving 1 of 32 | Date: 28 November 2012
Price at time: $12.16 US per bitcoin
Previous All Time High: $31.95 in June 2011.
Reward half: 50 BTC per block down to 25 BTC per block.
Following the halving, Bitcoin experienced a consolidation phase for 40 days with minimal movement. On the 50th day after the halving, Bitcoin saw a notable uptrend, posting a 5.8% daily bullish candle at $15.56. It then surpassed the previous all-time high 91 days after the halving, marking a significant 169.35% increase.
By day 133, Bitcoin's price had soared to $280 per coin, representing a remarkable 2,144% surge from the first Bitcoin halving date. Subsequently, Bitcoin underwent a pullback lasting 88 days before embarking on another impressive rally, reaching $1,245 per coin. This surge amounted to a staggering 10,393% increase from the first Bitcoin halving date, spanning a total of 368 days.
Halving 2 of 32 | Date: 9 July 2016
Price at time: $655 US per bitcoin
Previous All Time High: $1,245 in December 2013.
Reward half: 25 BTC per block down to 12.5 BTC per block.
Just 23 days after the halving, Bitcoin experienced a significant drop of 26.84%. However, it took 109 days for Bitcoin to recover back to the price of the second halving.
Following this recovery, bitcoin traded for 236 days before finally breaking the previous all-time high of $1,245 per bitcoin. This breakthrough occurred after a total of 524 days from the 2nd bitcoin halving date.
The journey didn't end there. Bitcoin continued its impressive run, reaching a new all-time high on December 19, 2017, at $19,819 per Bitcoin. This remarkable milestone represented a staggering 2,989.52% increase from the second halving date.
Halving 3 of 32 | Date: 11 May 2020
Price at time: $8,628 US per bitcoin
Previous All Time High: $19,819 in December 2017.
Reward half: 12.5 BTC per block down to 6.25 BTC per block.
Following the halving, bitcoin underwent a period of sideways consolidation lasting 70 days before showing any significant upward movement. On the 77th day after the third halving, bitcoin experienced a notable 11.62% increase in price.
Bitcoin continued to advance, ultimately breaking the previous all-time high 203 days after the third halving date. It reached its first major all-time high 339 days after the halving, soaring to $64,617 per coin.
After reaching this milestone, Bitcoin experienced a 54% decline before embarking on another rally, breaking a new all-time high at $69,000 per coin. This occurred 550 days after the third Bitcoin halving date, representing a solid 678.11% increase from the halving date.
Halving 4 of 32 | Date: 19 April 2024
Price at time: $63,752 US per bitcoin
Previous All Time High: $73,841 on 14th March 2024.
Reward half: 6.25 BTC per block down to 3.125 BTC per block.
Remarkably, for the first time in four halving cycles, Bitcoin was already at an all-time high just 37 days before the halving. This was uncharted territory for Bitcoin.
What we know from past data is that it typically takes more than 40 days for any major price movements to occur after a halving event. This suggests that patience is required as miners adjust to the reduced reward of 3.125 bitcoins per block. They are currently recalculating their profit and loss considering energy costs and efficiencies, a process that takes time.
Additionally, there has been a sell-off, reminiscent of the second halving. However, this situation is unique because Bitcoin's price has increased by 117.63% year-to-date, unlike previous halvings. As a result, some investors with weaker resolve may choose to take profits during this period.
Based on data from previous halvings, significant advances typically occurred after 40, 70, 106, 203, and 336+ days. This suggests that bitcoin may consolidate until the end of May, June, or possibly November 2024.
Patience is crucial during this period. Understanding Bitcoin, its technology, its mission, and its role as a hedge against traditional finance will provide reassurance. The great news, you'll may have more opportunities to dollar-cost average (DCA) before any major moves occur.
Here are some interesting facts to consider:
If history repeats itself, by August 5th, which coincidentally is my birthday, we may never see Bitcoin trade below $63,752 again.
Bitcoin Saves Our Future.
Thank you for reading.
Are you looking for any tools or which Australian Bitcoin exchange to buy or sell? Look no further!
Bitcoin Converter
Comparing the Australian Cryptocurrency and Bitcoin Only Exchanges - Who is cheapest?
Looking for a cold storage device to secure your Bitcoin? Blockstream Jade Shop
Checkout our upcoming live stream events: Promotions Page
Become a member and gain access to:
⚡ Member Portal Login.
⚡ Automatically entered into Every bitcoin Draw.
⚡ Your Entries Into Draws Never Expire and Roll Into Next Month.
⚡ VIP Member Only Draws.
⚡ Participate In All Live Stream Bitcoin Games.
⚡ Exclusive Discounts with Partners Including 10% off Blockstream Jade & HardBlock Exchange Offer.
⚡ Bitcoin Starters Guide One Page Checklist on Signup.
⚡ Weekly Bitcoin Report / Data Email.
⚡ Notifications When We Buy / Sell bitcoin... Joke! We Only Buy!!!
⚡ Invites to Private Events and Webinars.
Memberships Start from $9 per month in fiat, cancel anytime.
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Microstrategy is a business analytics & intelligence company that provides intelligence to companies like Disney, Walmart, Amazon, CVS Health to name a few.
Click Here for the full report posted by Michael Saylor of Microstrategy 2024 Q1 Results.
They adopted a bitcoin strategy during the pandemic to combat business decay and forward thinking inflation issues from the money printer which increased the money supply, devaluing the cash they held.
The interest total payable is $10.52 million, paid twice per year to the note holders.
The note holders have the option to:
They way they are converted:
If they initially invested $10,000 US to buy the notes, they handed Saylor the $10k to buy bitcoin.
In the year 2030, let us assume $MSTR is trading at $4,000 per share.
The note holder can redeem their notes at $1,497.
$10,000 / $1,497 = 6.68 shares (rounded).
But the market is trading at $4,000 per share in 2030 possibly due to their bitcoin stack worth X mulitples more than the initial investment today.
6.68 x $4,000 = $26,720 of value, or 167% gain.
In this 7 years, the note holder has also received interest at $0.625% or $427.50.
Total value $27,147 or 171.47% gain from initial investment.
The opposite is also true. If the share price is BELOW the $1,497, they may wish to hold onto the note.
Generally speaking, the note holder wouldn't invest in the vision of the capital raise unless they believed the share price or company value would be greater than their initial investment.
Thank you for reading.
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Have you been searching "Where to buy Bitcoin in Australia in 2024?"
Here is a breakdown of the top Australian Exchanges.
Welcome to version 2!
Version 1 was completed in 2023, but of course there were some variables not included that a handful of people reached out asking if we could do a thorough breakdown again.
I am passionate about freedom, which is why I love Bitcoin. You can choose whichever exchange suits your risk appetite. We exclusively support Bitcoin-only exchanges with our purchases at BTCCLUB.
Dislaimer: We do not have any official affiliation or financial benefits with any of these exchanges, however, we are open to discussions with a Bitcoin Only Exchange to mutually help each other serve our members.
If you are one of the exchanges reading, I’d like to personally thank you for providing Australia with your offer /service. With you, we have the ability to participate in Bitcoin, the freedom money, the savior of wealth decay, the hope for our children.
The changes that were made from the last blog:
1. Removed Digital Surge & Independent Reserve. Don’t see any benefit revisiting these.
2. Added PayBTC as requested.
3. Added Withdraw / Deposit Fees.
In version 1, cash was deposited and we paid for the cost of testing through the slippage. In version 2, the data was compiled together based on the information inside the platforms once logged in, on their website, and through previous testing. Spreads and pricing are variables that change based on liquidity (Volume of orders). The higher the volume of orders, the tighter the spread, the drier the volume, the wider the spreads.
When buying and selling any type of financial asset, there are generally three main expenses you must be aware of. When buying / selling Bitcoin, there is also a network fee.
1. Commission - This is the fee the exchange charges you for the transaction. It's usually applied to both buying and selling.
2. Spread - This represents the gap between the buy and sell prices. While not a hidden cost, it's an expense that sometimes outweighs the commission and is often overlooked.
3. FX conversion rate - Typically, when purchasing an asset in a foreign currency, an exchange rate is applied. We won't be calculating this in our examples.
4. Network Fee: This is the fee passed down from the blockchain that is passed onto miners for their Proof of Work. This fee fluctuates based on network traffic that can not be escaped. We won't be considering this in any of the calculations.
5. Withdraw and deposits: Fee for AUD transactions.
6. Exchange Withdraw Bitcoin: Fee to withdraw Bitcoin from your exchange wallet, to an external wallet. This is on top of (4.) Network fee.
I also want to thank Cory from Twitter for verifying and helping with some of the data collection.
All the buy and sell prices from these exchanges were captured simultaneously in video for these examples. However, we cannot guarantee 100% accuracy due to latency and refreshing. This guide aims to explain how the calculations are performed.
The examples to follow are for a $1,000 AUD parcel of Bitcoin to buy. We will then sell that parcel a few seconds later to calculate the total expenses of commission and spread.
COINSPOT: Probably the most well known Cryptocurrency exchange in Australia.
Pros: $0 fees on withdraws and deposits, transparent on bid + ask price.
Cons: Commission, offer altcoins with huge risk and withdraw fee on Bitcoin is 0.0005 ($50!)
Calculation:
SWYFTX: Another popular Australian Cryptocurrency exchange.
Pros: $0 fees on withdrawals + deposits + low slippage.
Cons: Platform is a mess. Super confusing + Offer altcoins with huge risk.
Calculation:
AMBER APP: BITCOIN ONLY Exchange
Pros: 0 Withdraw Fee on Bitcoin.
Cons: Commission of 1%. They offer AmberBlack for $99 per annum to reduce comms to 0%. Fees across AUD Deposits.
Calculation:
PAYBTC: BITCOIN ONLY Exchange
Pros: Private and simple to create an account. Also they will send the BTC purchase to your cold storage in seconds!. $0 commission, withdraw + deposits.
Cons: Their spread is the highest of the group. You end up with the least amount of Bitcoin in the purchase. I also do not like the vague information on buy and sell price. You need to work out the Bid and Offer yourself.
Calculation:
HARDBLOCK - An Australian BITCOIN ONLY Exchange. I had the pleasure to meet their captain at the BushBash at Beechworth. Absolute genuine and wants the best for Bitcoiners.
Pros: For dollar cost averaging parcels under $1,000 per transaction and sweeping it auto into a Bitcoin wallet (not lightning), they don’t charge commission, deposit fees, and only 400 sats for scheduled withdrawals (not including network fee.).
Cons: Platform does not show Bid and Offer prices.
Calculation:
BITAROO - BITCOIN Only Exchange - Another exchange where I’ve had the pleasure to zoom their captain who wants the best for Bitcoiners.
Pros: Super tight spreads and comms. Super transparent on price and has a full trade panel with level 2 pricing which I love. Deposits above $1,000AUD are free. They also have Lightning Network!! For our live draw events, we buy Bitcoin, sending the Bitcoin to Wallet of Satoshi Lightning address and it costs about $1 for the entire process from bank to Wallet of Satoshi (incredible).
Cons: Deposits under $1,000 have a small fee of $1,95. Bitcoin Withdrawal fees between 0.0001btc - 0.0003btc
Calculation:
For Parcels of $1,000 or less sending into an external BTC Wallet ($500 Parcel in example minus network fees)
Hardblock with scheduled withdraws is 400 sats. If you are Dollar Cost Averaging, they become a solid platform to stack smaller amounts of Bitcoin.
Coinspot, well no surprise here. They are charging 0.0005 Bitcoin for a withdrawal. This is currently $50 AUD!
Our final summary:
1. Proof of Work Au will only support Bitcoin Only Exchanges.
2. Parcels above $1,000 of Bitcoin, Bitaroo is hands down the winner. Level 2 and lightning network channels make this exchange the A+ option. Love their platform and how easy it is to use.
3. Hardblock is another simple platform that is championing dollar cost average parcels below $1,000. Scheduled withdraws of 400 SATS make them a juicy option to stack Bitcoin and get the most amount off Bitcoin for your dollar.
4. Coinspot and Swyftx have a monopoly over cryptocurrencies, but Sywftx provides the best value for Altcoins. Coinspot’s fees for Bitcoin withdrawals are super greedy.
5. PayBTC has a super private offer that has probably the most discrete KYC, plus they send the BTC to any address you prefer including cold storage which is cool. The cost of such privacy and ease also means you need to pay a premium in spread costs and end up with the least amount of Bitcoin per dollar.
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