Crypto: It Just Happened!
Also, patreon is officially sold out so make sure to check out our free discord using the link down below, while that is still open. Anyways first thing is the overall crypto market is up about five percent over the last 24 hours and were seeing bitcoin, ethereum, cardano solana and basically, every single crypto is in the green. Most exciting thing, though, and the reason why we are seeing this spike in the market is for a couple of big things. The first is with regards to a government shutdown bill senate in the house on wednesday evening, agreed to pass a short term spending bill. That would fund the government, the us government, for until about the end or until about the middle of december 2021. As soon as we saw this announcement come out, we saw bitcoins price immediately, go from forty thousand dollars per coin, up to forty three thousand dollars per coin, and within an hour of this announcement coming out, there was a lot of fear that this wasnt going to Go through, but as soon as we got saw, this announcement, bitcoins price jumped second thing is with the crypto fear and greed index right now. The crypto fear and greed index is at 20, which is showing extreme fear, and last time we saw this was right before we saw a massive rally in crypto, which is a great sign. Weve talked about this a lot when the rest of the market is very fearful, thats, the time to be greedy thats.
The time to buy third thing is with regards to historical data. Historically september is a red month were still going to close the month in the red, but what we are seeing is that many people are gearing up and getting very excited about october november and december, which have historically been very green monks. Big story of the day, though, is with plan b. The founder of the stock to flow model came out on twitter, he retweeted something and he showed us one of his tweets from june 20th 2021. He had said that the worst case scenario for crypto in back in june was going to be 47 000 for bitcoin in august, which was almost exactly what happened. We saw bitcoins price at 47 500.. Then he said for september. The worst case scenario was gon na be bitcoins price at 43, 000 per coin. That is nearly exactly the number we are at right now right now. Bitcoins price is slightly above that when yesterday was at only 40 000 per coin, so he called uh august and september now, hes saying august worst case scenario looks like sixty three thousand and by december 2021 he thinks the worst case scenario is going to be 135. 000 per coin, so, while you know he has had a lot of correct predictions in the past, with august september, hes had a lot of correct predictions with the stock to flow model. He was the creator of that, while we cant just say okay, if he calls it its gon na happen.
Well, we cant guarantee that it is interesting to see that he has picked multiple prices when the rest of the market was unsure. He has picked the numbers exactly what like almost to a t, what the numbers were going to be so based on his calculations, which i would say, are pretty good to follow. He thinks bitcoins price could reach 135 000 per coin worst case by december of 2021. Last story is going to be with regards to chamath poly hopdia billionaire investor hes been a long time, bitcoin bull long time, tesla bull and what he just came out and said in a recent interview earlier today is that he just put hundreds of millions of dollars Into bitcoin he says he mainly owns bitcoin, not as many like other all coins, but he thinks that this hundreds of hundred millions hundreds of millions of dollars could it get very big and turn into billions of dollars. He doesnt know exactly how high bitcoins price could go previously has said about 300 000 per coin, but hes saying now, this thing is going to get really really big, and the interesting thing here is that he has been a long time tesla bull. He has said why would anyone sell tesla back in january he said, dont sell a single share of tesla, but now he came out in the interview today and said he has sold his entire position in tesla to invest in other things.
At the same time, he came out and said he invested in bitcoin. Is it a coincidence? I think he probably used a lot of the money he sold for tesla to actually buy bitcoin so to see someone who is a long time, tesla bull, who has said not to sell a single sarri of tesla, now saying that he is going more heavily into Bitcoin, this is a great sign. He is not the only person saying this. We are seeing um galaxy digitals mike novogratz say the same thing were seeing michael saylor from microstrategy say the same thing. Many people are very bullish on crypto right now and there are a lot of positive catalysts in the market.