Bitcoin and the liberation of the US? – Rapper Kayne West is Pro BTC

The US rapper Kayne West is one of the most famous stars in the USA. The billionaire, who is also running as an independent candidate for the US presidential election this year, commented on Bitcoin and its potential in a recent YouTube interview. The rapper and fashion designer gave interesting insights into his point of view.

West attests the crypto currency Bitcoin Future app, for example, the potential to “liberate the USA.” In this article we take a closer look at the rapper’s quite exciting statements.

Bitcoin as a US liberation? – Kayne West

Kayne West is considered a controversial figure. His statements appear again and again to outsiders as bizarre and sometimes crazy. However, West has undoubtedly built an empire, which is based in particular on the two pillars of „music“ and „clothing“.

However, West is not satisfied with this situation and is running as an independent candidate for the US presidential election this year. In the foreground of his campaign is his relationship to God and religion.

However, anyone who thinks of a conservative picture is wrong. In the current podcast interview with Joe Rogan, Kayne West spoke about Bitcoin and his views on cryptocurrency .

Above all, he showed his appreciation for the „Bitcoin geniuses“ who show true foresight and believe in sustainable change in society.

These people have a look at the way true liberation of America and society can look like.

West said that many personalities from the “tech spectrum” push the boundaries forward and thus help shape social change.

Many of these tech people, but especially the Bitcoin people, have been able to take advantage of the new avenues, even the new avenues of information and technology, while pushing the boundaries further. The political system, on the other hand, is still clinging to old values ​​and the classic electoral college.

Companies like Square or Microstrategy as pioneers

Kayne West emphasized in the interview that he had prepared intensively for the talk. For example, he spoke to venture capitalist Anthony Schiller and Coinbase co-founder Fred Ehrsam.

In this respect, West spoke to personalities from the cryptospace who were able to give him interesting insights. In the course of this, the rapper also emphasized the pioneering role of companies like Square or Microstrategy, which had set a stone in motion.

Interestingly enough, Joe Rogan also said after the interview that it “far exceeded his expectations”. Rogan has interviewed several US presidents in the past and made it clear that with Kayne West you can actually understand „how this man thinks“

The rapper emphasized several positive aspects of Bitcoin in the interview. What is your opinion on what Kayne West said?

What’s happening with Bitcoin’s rates?

Bitcoin’s per-transaction rates (BTC) have increased at a significant rate.

Why? What’s causing it? We’re telling you!

BitInfoCharts data reveals that the Bitcoin Union per transaction (BTC) rates have been increasing again; accumulating a growth of more than 255% during the last 30 days until October 26th. What’s been generating this?

Is Bitcoin on its way to a new annual high?

Bitcoin experiences high rates

A little over a month ago, on September 20th, BTC’s transaction fees stood at USD 1.39. This compares to USD 5.76 yesterday.

Therefore, we can see that, according to BitInfoCharts data, Bitcoin’s transaction fees have increased at an unparalleled rate.

On October 22nd it cost an average of $6.3 to process a transaction on the Bitcoin Blockchain, a level not experienced by the market since August 6th.
Quarterly chart of Bitcoin transaction fees. Source: BitInfoChartsQuarterly Bitcoin Transaction Fee Chart Source: BitInfoCharts BitInfoCharts

Glassnode also reported on Twitter today that the percentage of revenue that BTC miners earn from transaction fees increased to 22.25% in the last 24 hours; a level not seen since January 2018.

What have the Bitcoin whales been doing while BTC is reaching its annual high?

Does the price increase offer an explanation?

Soon the recent price increase that Bitcoin has experienced could be one of the main catalysts behind the rate increase.

In general, we could say that when prices rise, investors get excited and enter a mood characterized by FOMO.

The consequence of this is that it leads investors to be willing to pay a higher fee to the BTC miners as long as their transactions take place earlier than others. And, as a result, network congestion is generated that leads to higher average rates.

In this regard, let’s remember that on October 6, Bitcoin’s price stood at approximately USD 10,600. However, last week the leading crypto received a boost that placed it above USD 13,000.

Bitcoin Appreciation is Unstoppable, Says Analyst

Is Bitcoin the most desired asset?

This possible explanation goes very much in line with the previous one and it is that the increase in price has been a catalyst for the interest generated by cryptomoney.

In the last few months we have reported from CryptTrend how institutional investors have entered the Bitcoin market by considering it a refuge for the global economic context.

Just yesterday the stock market was stained red as a result of the tensions in the United States; meanwhile Bitcoin and its investors were very calm when crypto held on to USD 13,000.

Clearly, situations like yesterday’s have improved the perception that investors, and even Wall Street, have of the leading crypto.

So we have investors eager to enter Bitcoin’s paradise and that results in network congestion that leads to rate increases.

Bitcoin Mining information that shined this week

End of the rainy season in China

Another fundamental explanation for this is the end of the rainy season in China.

Let’s remember that China’s summer rainy season usually lasts from June to October; this provides an excess of resources for hydropower plants and, consequently, electricity prices are cheaper and attractive to Bitcoin miners.

However, once the season is over and prices return to their levels, Bitcoin miners switch off their machines and look for other sources of electricity that are cheaper.

Among other things, such a situation may cause some miners to access energy sources that are not so stable that they cause the frequency of mined blocks to decrease until the hardship adjustment occurs.

An interesting fact is that, according to BitInfoCharts data, the time per block of Bitcoin has increased since October 17; it currently takes about 13 minutes per block.

In fact, the difficulty setting is expected to occur by the end of this week and, with it, the network congestion will be lightened.

Nawet Rotszyldowie kupują Bitcoiny; Zasoby w skali szarości przekraczają 450 tysięcy BTC

Nadchodzą duże pieniądze, fundusz Greyscale Bitcoin Trust (GBTC) posiada prawie 2,5% całej podaży Bitcoinów.

Rothschild Investment Corporation kupiła 27 bitcoinów w formie akcji za pośrednictwem Grayscale Bitcoin Trust (GBTC)

Sam GBTC dodał kolejne 6937 BTC (o wartości 72 mln USD) w ciągu ostatnich kilku dni po tym, jak opublikował trzeci z rzędu rekordowy kwartał z wpływami sięgającymi 1 miliarda USD.

Od września 2020 r. Zasoby bitcoinów w Grayscale osiągnęły 450 tys. BTC, co stanowi prawie 2,5% całej podaży Bitcoinów , zgodnie z YCharts .

Rothschild podobno zarządza aktywami o wartości 1,4 miliarda dolarów, z czego 235 000 dolarów znajduje się w Bitcoinie. To sprawia, że ​​są jednym z najbardziej znanych banków inwestycyjnych, które mają dostęp do bitcoinów, co jest najbardziej prawdopodobne dla ich klientów.

Rothchilds kupuje BTC

Inne wielkie nazwiska, takie jak Rockefellers, zaczęły inwestować w startupy z technologii blockchain i kryptowalut w 2018 roku. Blackrock, zarządzając aktywami o wartości 6,3 biliona dolarów, również zaczął rozważać dywersyfikację w kierunku kryptowalut w roku po osiągnięciu najwyższej ceny bitcoinów.

Nic dziwnego, biorąc pod uwagę, że do kryptowalut trafia coraz więcej dużych pieniędzy. Trend nasilił się dopiero w 2020 roku, gdy zobaczyliśmy, jak legendarny inwestor Paul Tudor Jones kupuje Bitcoin i firmy takie jak Square , MicroStrategy i Stone Ridge , czyniąc go częścią ich skarbca.

Od inwestorów instytucjonalnych po biura rodzinne, oszczędności firmowe i fundusze emerytalne, bitcoin staje się dla nich bardzo atrakcyjny, ponieważ waluta fiducjarna nadal ulega dewaluacji.

Kryptomarknader sjunker 10 miljarder dollar när Trump avslutar pandemis lättnadssamtal

Globala aktiemarknader och kryptovalutamarknader har tagit en kraftig nedgång sedan USA: s president Donald Trump avslutade samtalen om Coronavirushjälpmedel.

På baksidan av anmärkningsvärt snabb återhämtning från viruset, som har tagit över 210 000 amerikanska liv, avslutade president Donald Trump plötsligt samtalen med talman Nancy Pelosi och demokratiska ledare om nya ekonomiska hjälppaket.

Alla tre stora amerikanska aktieindex förlorade solida vinster från tidigare på dagen och föll i negativt territorium efter tillkännagivandet , och kryptotillgångsmarknaderna följde efter, vilket tyder på att de har blivit mer korrelerade till aktier och mindre till guld de senaste månaderna.

$ 10 miljarder marknadsmässig nedgång

Det totala börsvärdet har minskat med cirka 10 miljarder dollar under det senaste dygnet. Flytten tog marknaderna ner från 335 miljarder dollar till strax under 325 miljarder dollar.

Men i månadsvisningen ligger de fortfarande inom en intervallbunden handelskanal och har ännu inte sjunkit till månadsnivåer på cirka 310 miljarder dollar.

Immediate Edge ledde reträtten som vanligt i ett kraftigt fall på 2% från 10 750 $ till 10 530 $ på bara ett par timmar. Sedan dess har kryptokungen återhämtat sig lite för att handla till 10 600 dollar.

Dolda baisseartade avvikelser i en daglig tidsram.

100MA fungerade som ett anständigt stöd hittills. Men det testas om och om igen. $ BTC $ BTCUSD #bitcoin

Det har observerats av flera analytiker att Bitcoin volatilitet och handelsvolymer är extremt låga just nu, vilket vanligtvis är en föregångare för ett större steg framåt.

Detta mindre fall kan inte övervägas, så det ser mer troligt att en dumpning i fyra siffror kommer att hända på kort sikt.

Annars på Crypto Markets

Som vanligt drabbas altcoins hårdare och är ansvariga för större delen av den marknadsförlusten under den senaste dagen eller så.

Ethereum har fallit tillbaka till sin lägsta nivå på nästan två veckor i en nedgång på 5% till strax under 335 $ innan den återhämtade sig marginellt för att återkräva $ 340-nivån. Ripples XRP har tappat en liknande summa när den glider tillbaka till $ 0,245, medan Binance Coin har minskat till $ 27,40.

Polkadot och Chainlink har varit två av dagens största förlorare och minskat med cirka 7% per styck. Endast EOS har lyckats få trenden i kryptotoppen tjugo och få en vinst på 6% på nyheterna om att Google Cloud kommer att ansluta sig till samhället för att bli en EOS-nätverksblockproducent.