Pemo: Welcome, Andy. Such a pleasure to have you on the show today. I was wondering if you could tell me a little bit...

A crippling of supply chains and distribution of products due to restrictive movement policies. Shrinkage of the active labor force. Spiraling inflation and...

During the gold standard, the violence of colonialism corrupted a neutral monetary standard. In the post-colonial world, a fiat monetary standard — upheld by...

​​This is an opinion editorial by Anita Posch, the founder of Bitcoin For Fairness who has traveled extensively around the world to learn how...

The framing of the American Revolution can be adapted to Bitcoin for helping people understand the values of community support and mutual aid.

Is cannabis a pacifier? North Dakota voted on November 8th to try and legalize cannabis in the state, as many other states, which means...

Bitcoin broke above key resistance levels to touch highs last seen in February, with…

The post Bitcoin touches $45k amid ‘PetroBitcoin’ sentiment appeared first on Coin Journal.

On-chain data shows the Bitcoin NUPL metric currently has values that would suggest the bear market is yet to hit in full swing, if the coin is in one. Bitcoin NUPL Value Still Not As Low As Previous Bear Markets As pointed out by an analyst in a CryptoQuant post, the BTC NUPL metric suggests market hasn’t neared a bear market bottom yet. The “net unrealized profile/loss” (or NUPL in short) is an indicator that tells us about the ratio of profit and loss in the Bitcoin market. The metric’s value is calculated by taking the difference between the market cap and the realized cap, and dividing it by the market cap. When the NUPL has a value greater than zero, it means there are more coins in profit than ones in loss at the moment. On the other hand, negative values of the indicator imply that investors are, on average, in a state of loss right now. Related Reading | Bitcoin Bullish Signal: Exchange Reserve Loses Another 50k BTC Over Past Week Now, here is a chart that shows the trend in the Bitcoin NUPL over the history of the crypto: Looks like the value of the indicator is still above zero | Source: CryptoQuant As you can see in the above graph, the Bitcoin NUPL metric has often been able to predict top and bottom formations through its various colored zones. In the previous bear markets, the indicator’s value has usually fallen off below zero (blue) as a bottom approached. In the lead up to these bearish periods have been the yellow and green phases, but currently the NUPL still looks to be in the yellow zone. This may mean that if Bitcoin has already entered into a bear market, it has still some ways to go before total capitulation and bottom formation. Related Reading | What’s Bitcoin Role After End of Petrodollar System? Arthur Hayes Says However, it’s worth noting that there have been instances before where the indicator dropped into the yellow zone after a bull rally, but then jumped back up soon after as the bullish trend continued, indicating a mid-cycle bottom formation instead. The latest example of this was during the mini-bear period of May-July 2021, where the coin bottomed at around $28k and rallied on to a new ATH. BTC Price At the time of writing, Bitcoin’s price floats around $41.4k, up 6% in the past week. Over the last month, the crypto has gained 8% in value. The below chart shows the trend in the price of the coin over the past five days. The price of the crypto seems to have held above $40k over the past couple of days | Source: BTCUSD on TradingView Featured image from Unsplash.com, charts from TradingView.com, CryptoQuant.com

Former BitMex CEO Arthur Hayes in a long op-ed published on his Medium page titled “Energy Cancelled,” explained how the war in Ukraine and resulting sanctions could be the end of the Eurodollar / Petrodollar monetary system.

The post BitMEX founder Arthur Hayes predicts end of dollar domination and Bitcoin to $1 million appeared first on CryptoSlate.

Bitcoin could have a bigger role in the international board as superpowers compete for dominance over the financial system. The benchmark crypto has seen some relief in the last day, as the U.S. Federal Reserve (FED) tightens, and the shadow of war looms over Europe. Related Reading | Ethereum Spikes Above $2,700 After Fed Announcement, What Now? At the time of writing, Bitcoin trades at $40,700 with a 1% profit over the past day and a 3% loss in the past week. As Gold Rises, So Will Bitcoin… In a recent post from BitMEX Co-Founder Arthur Hayes, there is a prediction for Bitcoin for the coming years, and a declaration with potential implications for the whole world: the financial system supported by oil and dollars came to an end. Otherwise known as “Petrodollars”, the term describes the way our current financial ecosystem is supported by the exchange of the U.S. dollar for this commodity, the world’s main source of energy. Big oil producers accept this currency, almost exclusively, for their products. This gives the U.S. dollar a prime position in the financial system, contributing to its global reserve currency status. The Society for Worldwide Interbank Financial Telecommunications (SWIFT) is another major component of that system. For some, Bitcoin is a direct competitor and a threat to this status quo. In his essay, titled “Energy Cancelled”, Hayes claims the Petrodollar system came to an end. The invasion of Ukraine by the Russian army led to the imposition of sanctions from the international community to the Vladimir Putin-led country. Russian banks and a portion of the country’s fiat currency reserve were seized by the U.S. and European Union (EU). The weaponization of the U.S. dollars has led Russia and China, contesting the role of this currency on the global scene, to find alternatives and possibly push for a new financial system. 8/12 Now add in the news that Saudi Arabia is considering accepting #Yuan instead of Dollars for Chinese oil and you have an accelerator for more economic problems and market uncertainty. https://t.co/5by5PkH8Vf — Material Indicators (@MI_Algos) March 16, 2022 Hayes believes this new system is yet to be named but could potentially be supported by a “neutral” medium of exchanges, such as Gold. This would directly impact Bitcoin, Hayes said: A new neutral reserve asset, which I believe will be gold, will be used to facilitate global trade in energy and foodstuffs. From a philosophical standpoint, central banks and sovereigns appreciate the value of gold, but not that of Bitcoin (…). Bitcoin is less than two decades old. But don’t worry: as gold succeeds so will Bitcoin. Money Has Changed Forever, Why Bitcoin Will Benefit Later, Hayes breaks down the evolution of money and the network that supports money, from its physical to its digital phase. In the latter, individuals, entities, and small countries have money stored on centralized, permissioned networks, and can potentially be locked out of their wealth, if a bank or government decides to. In case the dominant countries on this network, the U.S. and E.U. or China for the current financial system, decide to block network access to a participant, questions about the status quo emerge. Russia’s recent sanctions, the essay claims, is a one-of-a-kind case in history. The digitalization of the monetary network has made it possible to “cancel”, to “shun”, the country at this scale. Hayes said: Money is a medium of energy storage, and the most-used monetary instruments now lack the largest energy producer globally as a user. Why should any central bank “save” in any Western fiat currency, when their savings can be expropriated arbitrarily and unilaterally by the operators of the digital fiat monetary networks? Data shared by Hayes estimates current savings in $12 trillion, most countries store these funds on a network controlled by a superpower. These funds will be moved, says Hayes, to a new network. Gold is the potentially direct benefactor, as mentioned, China and other countries could begin injecting buying pressure into the Gold spot market. Long Gold could be this decade’s most important trade. Wheat, grains, and other commodities could follow. Related Reading | FED Announcement Pushes Bitcoin Price Up, Will BTC Sustain Momentum? In the long term, Hayes expects Gold to reach $10,000 on the spot. The rise of the precious metal will spill into all hard money assets, Bitcoin included. The cryptocurrency could hit $1 million per coin, as Gold moves upward. Hayes added: (…) any and all hard monetary assets believed to protect portfolios from this pestilence will get bid to astronomical levels. And that is the mental shift that breaks the correlation of Bitcoin with traditional risk-on / off assets, such as US equities and nominal interest rates.

The Bitcoin mining firm Cathedra seeks to propel humanity toward a “positive sum” future in energy production, creativity and more.

Discussing the latest macroeconomic developments as they relate to Bitcoin, including oil prices and market misconceptions.