Bitcoin price 290823

It is 9am as I start my update today-- BTC is up over $1000 today.

https://bitcointicker.co/stamp/btc/usd/3Mth/

This pump has barely reached halfway up the last big red candle.

https://bitcointicker.co/stamp/btc/usd/3Mth/

There is a lot of fear and uncertainty around BTC right now.

https://bitcointicker.co/stamp/btc/usd/1hr/

Let's look at some indicators;

right now the Meyer Multiple is "1.00", below the average of "1.36", historically 63% "higher than today's value". If you look at the chart, its on the way down.

https://charts.bitbo.io/mayermultiple/

I can count 9 times since 2011 on this chart where the Meyer Multiple drops to 1.
Another way to interpret this chart is to notice that the pattern is becoming calmer.

The upcoming Bitcoin halving event is a crucial indicator that demands attention. Currently, approximately 900 BTC are minted every 10 minutes, but in about 240 days, that reward will be cut in half to 3.125 BTC per block. At that point, only 1,095,794 BTC will remain to be mined.

Now, let's consider the potential impact of even moderate adoption. If just 5% of the global population, which is roughly 402 million people, were to purchase $10 worth of BTC, the implications are staggering. Let's do the math. If each of these 402 million users were to buy just $10 USD at current prices, 0.00036490 BTC, they would collectively invest a staggering $4,030,075,907.647 USD to obtain 147,005.9110455 BTC.

What if they were to all buy $100 USD of BTC? Is it possible? Well, perhaps but the demand would exceed the new coin supply. 1,470,059.110455 - 1,095,794 = 374,265.110455 old Bitcoins needed. If 5% of the world population tried to buy $100 USD of BTC today, the amount of Bitcoin purchased would exceed the amount remaining to be mined after the next halving.

https://www.worldometers.info/world-population/

This shows the potential power of mass adoption and the significant impact it has on the value and demand for BTC. Pay attention to the Bitcoin halving event, it becomes clear when considering the limited supply of BTC and the potential for widespread adoption that diminishing supply matters.

Also note that the distribution of BTC is not equal, but if the remaining BTC left to be mined after the next block halving was split between the worlds 8 billion population, 1,095,794 BTC / 8,000,000,000 people = 0.00013697425 BTC per person, just $3.76 USD worth today.

https://bitcointicker.co/stamp/btc/usd/1hr/

BTC is $27,269 at 9:55am MST 290823

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