| | | BROUGHT TO YOU BY |  | Humble Bitcoiners!
It is Monday, and here we are again with your daily dose of Bitcoin signal!
It has been a record-breaking week, 10 days of continuous appreciation for Bitcoin. The market is euphoric, it seems people have short memories and have already forgotten the weeks of the continuous downtrend.
The truth is that the news has been and is showing a very optimistic future for bitcoin, both short and long term. Just remember that this is a marathon, and it is never a good idea to make moves based on emotions.
The best strategy? Well, no one has ever gotten hurt by dollar-cost averaging into Bitcoin.
Now get your coffee ready, stack some sats, and let's get all the latest news in the bitcoin space.
P.S. We're running a new giveaway to celebrate our 10 year Twitter anniversary and we're giving out 10 tickets to Bitcoin 2022. Details below. | | Today's Rundown: - Reasons For Correction. Why did bitcoin's price correct?
- Miners Relocate. Miners looking to move to Paraguay
- Higher Stakes. Hedge fund allows its clients bitcoin allocation.
Let's do this. | | | BITCOIN'S PRICE CORRECTION | | What Caused This Mid-Cycle Bitcoin Price Correction
By Alex Mcshane Factors ranging from regulation in China to the Taproot protocol upgrade were driving bitcoin price charts to a decisive point for weeks.
After the sudden appreciation at the beginning of the year to highs of $60,000 per bitcoin, corrections were expected and are normal in bitcoin's price history, but some factors could definitely aid or serve as a signal of how big and sudden these corrections can be. McShane details the reason for the last correction in three main topics: - China Ban
- Taproot Upgrade
- Grayscale Trust's Record Unlocks
These reasons could have played a big impact on the market sentiment, and the price. Read the detailed explanation in the article. | | Bitcoin Miners Consider Relocating To Paraguay In Wake Of China Ban
By Alex Mcshane As many as eight China-based Bitcoin mining firms are said to be looking to relocate operations to Paraguay, home to abundant hydroelectric energy.
Mining bitcoin is a fight for cheap energy. To be able to compete globally, bitcoin miners have to look out for reliable energy sources with the lowest price possible to maximize profit. Interestingly enough, these accessible energies are often found in renewables, and apparently, Paraguay has abundant hydroelectric energy which satisfies 100% of the country's needs and is even sold to neighboring countries.
After the China mining ban, estimates suggest that as many as 500,000 machines could eventually be installed in the country over the following years. | | Your daily dose of signal:
1. Bitcoin need not be a politically splitting idea, as there are benefits to be had from progressives and libertarians alike.
2. The framework from which we evaluate the asset must take into account the problem that it solves; store of value.
3. American retirement savings represent a new beachhead for bitcoin — we just need to make sure people hold their own keys.
4. Van Wirdum Sjorsnado Podast: Two hands-on hardware wallet developers discuss bitcoin custody and its technicalities.
5. Despite groundbreaking work occurring within Bitcoin, our "progressive" leaders continue to make backwards progress.
6. Congressman Warren Davidson explained how the cryptocurrency tax addition to the Senate infrastructure bill is bad for the U.S.
7. While we casually talk about Bitcoin having multiple layers, the word itself has historical meaning.
8. GoldenTree, a hedge fund with $41 billion in assets under management, has reportedly added bitcoin to its balance sheet.
9. The University of Pennsylvania confirmed today it still holds part of a $5 million donation it received earlier this year in Bitcoin.
10. Dekabank is reportedly considering investing in Bitcoin after a new law takes effect Monday, though it says "no decision has been made yet."
11. On-chain data shows that large-pocketed investors have begun to aggressively accumulate bitcoin.
| | Robo-Advisor Wealthfront Adds Bitcoin Exposure Offering
By Namcios Robo-advisor giant Wealthfront will now let its 400,000 clients invest up to 10% of their portfolios in bitcoin through GBTC.
Wealthfront, a hedge fund offering financial services to 400,000 clients, will begin to allow exposure to bitcoin through the Grayscale Bitcoin Trust (GBTC). They will let clients have a maximum exposure limit of 10% as they consider the asset to be riskier and more volatile than most ETFs.
This could lead to a great opportunity for Wealthfront clients to dip their toes and get educated on Bitcoin. As many bitcoiners can relate, education helps conviction and leads to higher allocation. | | By Bitcoin Magazine
The amount of bitcoins we have, is never enough. As we take a deep dive into the educational resources and begin to understand and appreciate the potential of bitcoin as an asset, digital real estate and sound money, we KNOW, we don't have enough. This is the same reason why Bitcoiners are hard workers, because sats do not go for free.
"I do not have enough bitcoin" - Every single bitcoiner
Keep stacking! | | | We're excited to be celebrating our 10th Twitter Anniversary in August by giving away 10 Bitcoin2022 Conference Tickets. The giveaway will start Sunday, August 1st at 12:00PM EST and run until August 31st at 12:00PM EST. The winner will be contacted by email on Wednesday, September 1st. To enter, go to: http://www.rafflecopter.com/rafl/display/b28baf753/ | | Today's email was brought to you by Bam and Joe.
Keep on reading, keep on stacking. | | | | |
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