I knew may was going to be a good month for bitcoin and crypto. Yes, there are still three more weeks to go in the month and too early too conclude how good the month has been for bitcoin and crypto. However, when there is a good reason to celebrate, there is no reason to hesitate. Bitcoin broke $100k, again. It was only 5 months ago we saw bitcoin at these prices. The price that was anticipated for a very long time and predicted by many ever since bitcoin's epic run from $20k to $67k in very short time period of few months in early 2021. 100k for a bitcoin is a norm now. It is amazing how it manages to regain its previous all time high prices every time price drops. It hasn't regained the previous ATH price yet. But $100k is a psychologically significant number, anything between the price range of $100k and $110 is almost the same.
There is always search for reasons when prices go down or prices go up. Some people are suggesting it has to do with trade deal news with UK, others mention states passing bitcoin strategic reserve laws. I think it just has to do with May. Almost entire April, for some unknown reason I thought May would be the month that bitcoin would go back to $100k. It may also have to do with the weather becoming warmer, more sunshine, and days with longer daylight. I don't think the reason at this point matters much. Bitcoin was always going to reclaim $100k. Next stop $150k, and up and up. We do like to see numbers go up. Unfortunately, or fortunately for some price numbers always fluctuate and market sentiment oscillates between bearish and bullish.
Are we at the beginning of the new bull run that may lead to unexpected high prices? Or is this just another short lived excitement in the markets. Either way another important milestones has been achieved. It is one thing to get to $100. Getting to it twice is completely different accomplishment. It builds more confidence that this is actually the right price, and potentially new bottom price. In a near future I think we will see another important event in bitcoin's journey. It may seem not important now, but I think it will play a big role in accelerated adoption and interest towards the asset. The number I am talking about is the amount of bitcoins left to be mined. When this number drops below 1 million, I think it will attract a lot of attention. It may emphasize that there is truly not many bitcoins left to be created. And it is not like they are created at will. All future bitcoins are stuck in time, and can only be mined over time. This realization will activate a new enthusiasm and probably a race among companies, organizations, and sovereign funds to accumulate as much as possible. We don't really have to wait until this number drops below 1 million. But psychologically we humans tend to add special significance for round numbers. It may be nothing, but just a thought.
Bitcoin continues to do what it was intended to do, that is transform the traditional finance into something better, more fair, transparent, incorruptible. The process is slow, but it continues to win over more and more people. Such a simple idea is still not too simple to understand. While there are still many those who haven't embraced bitcoin, there are more who are showing interest and instead of having complete opposition, giving it a benefit of doubt and trying to learn. Things are changing indeed. Bitcoin also has been educating many about money. Money itself is not such a simple concept to understand, although we rely on it on daily basis. While in the traditional systems only elite had full access to money, today bitcoin opened the doors to money for all.
Bitcoin reaching new highs is a great news for rest of the crypto world as well including Hive. I don't think we have seen an alt season in recent years. I would say it is about time for alts to reach new all time highs as well. Usually, rest of crypto does perform well after bitcoin makes significant gains. Hopefully, this isn't too far away and maybe we will see something interesting this year. Regardless the price action, it is great to see crypto thriving and continuously building. Hive is a great example of useful solutions utilizing blockchain tech that many use. Hive's price has been under $1 for a very long time now. This is a billion dollar network, at least. The price doesn't necessarily represent it true value, in my opinion. But crypto doesn't really follow logic. We will see what the future will bring. I am sure Hive will be around for many years to come.
There are many other coins I think deserve price appreciation as well. I would like to see Ethereum, Litecoin, Solana, and others to have a successful year. Cool thing about blockchain technologies is that there isn't only one solution for everything, and there are many networks that are advocates for decentralized systems and offer better solutions for traditional networks and systems. I don't hold LTC anymore. Recently I decided to sell all LTC and move to SOL instead. At the time it was a right decision. But I still like LTC too, and perhaps will get more in near future. What is happening with Koinos? There was a time its price was doing great. Now it looks like the price went back to the lows of its initial days when there wasn't even a working blockchain yet. I thought it was a decent project too. Hopefully, alt season won't skip Koinos either.
When $250k?