Cryptocurrency Miners And Investors Are Seeing Tremendous Moves In The Prices Of Some Of The World’s Major Cryptocurrencies On September 5th, 2021, leading up to Labor Day 2021 on Monday, September, 6th.
Many people have something to be excited about this Labor Day 2021 Weekend, and it’s not just because football is back. Judging the by price movements that are taking place right now with just about every major cryptocurrency around, it seems like Labor Day 2021 is potentially poised to be a great one for just about anyone who is interested or invested in the world of cryptocurrency.
Why is there cause for celebration for many, aside from the USA’s Labor Day Holiday 2021?
Many people are having a great weekend right now-for good reason- because they are watching the activity going on in the Bitcoin and Cryptocurrency Markets with a feverish pace. In fact, with the recent price explosion on September 5th, 2021, that has seen Bitcoin rise above $51,000, there are now signs of extremely bullish behavior being seen all over the crypto market. Not only has Bitcoin regained almost all of the valuation it lost when it had a mini “crash” down from highs of more than $60,000 in April of 2021, BUT Bitcoin is staring very closely at regaining a “Market Cap” of MORE THAN $1 TRILLION DOLLARS, with a current market cap of just under $975 BILLION as of the time this article is being written.
You know the story, Bitcoin somewhat controls the movements of the entire crypto market is what most believe.
But, NOW, largely thanks to the recent popularity of NFTs, we are seeing amazing surges in prices for most other cryptocurrencies as well, particularly Ethereum. Not only are other crypto projects starting to be less dependent on Bitcoin in some ways, but in some ways certain cryptocurrencies are starting to build quite a strong community of their own. However, it is indisputable to say that Bitcoin is still the #1 most valuable cryptocurrency in the world as of September 2021.
When you talk about price increases and crazy movement in prices, you can’t forget to mention the recent price increases of Dogecoin, Litecoin, Cardano, and many other popular crypto projects that are not named Bitcoin or Ethereum. As of the time we are writing this article, Bitcoin is sustaining above $51,000 USD, Ethereum is sooooo close to $4,000 USD, Dogecoin is at .31 USD, Cardano is sitting high at $2.90 USD, and Litecoin is above $225 USD. AND many more crypto projects are seeing great rises in valuations as of late, beyond these top crypto projects, but there are truly too many to mention. Most every major cryptocurrency/coin/token that crashed between March-May of 2021 has since recovered at least 50% or more of their value lost, and many cryptocurrencies are teasing (ATH) all-time-highs.
For cryptocurrency miners, more hash rate continues to come online daily and more individuals continue to consider whether they really can afford NOT to start mining Bitcoin and other Cryptocurrencies by the day. As more and more miners move their equipment to new locations, miners are hopeful many more prices increases could possibly be ahead. What a great time to be a bitcoin/crypto miner it is, indeed, as it was not too long ago when many people were asking more what they could afford to lose when getting in to crypto. NOW, it seems people are asking what will they lose if they do not get in to crypto/bitcoin right now.
Alas, while nothing can ever be said with complete certainty-especially when it comes to crypto-there are so many new Bitcoin and Cryptocurrency owners joining the community daily that it seems positive momentum is ahead. Whether you are a bitcoin miner, crypto miner, crypto hodler, or even someone who is only buying crypto to support your NFT love-it’s all awesome and every new person joining the fun is helping to drive these prices up.
Certainly some people may want to say that “FOMO,” or “fear of missing out,” is starting to set in for some folks and that’s causing the massive surges in valuations, but that doesn’t seem to necessarily be the case here. Rather, it seems that advocates and long-term holders of Bitcoin and other crypto have only accumulated more than ever before PLUS new buyers are coming on line every second of every day. Overall, this seems like a positive mix in the opinions of many.
While many developments continue to be announced which suggest the further adoption of Bitcoin and other crypto assets among institutional investors and large corporations, and many Bitcoin “hodlers” out there advocate to “DYOR,” or “do your own research,” it is certainly a good time for many in the Bitcoin and Crypto community right now during Labor Day Weekend 2021.
Not only is there still only a small amount of the world’s population that currently owns Bitcoin and/or any other cryptocurrency, but the proliferation of widespread crypto payment adoption has not even begun. Although, there are already some companines-like MinedPool-the do let you pay with crypto. Of course, everyone can make their own decisions regarding whether or not they want to own crypto or even become a crypto/bitcoin miner, and most experts suggest contacting financial advisors if you have any questions regarding buying crypto. BUT-many people do not have concerns and are happily jumping aboard the cryptocurrency wave at full speed, and it doesn’t seem like that trend is going to end any time soon. SO, data would suggest that more adoption is likely to come over time; and, with more adoption, crypto investors and miners alike are hopeful that the price increases being seen during Labor Day Weekend of 2021 are just a very small beginning of massive long-term runs.
With winter coming around the corner-some bullish crypto professionals suggest that more people may take the time to find out about the convenience of paying with crypto in the coming months, and many fans or crypto and professionals alike are having a hard time seeing why more will not become buyers become drawn to crypto.
Additionally, more major companies continue to consider adoption of crypto in to their own operations. Who knows, maybe you might see one of the world’s giant companies like Amazon, Walmart, or Tesla, make an announcement soon regarding cryptocurrency payment options? Stranger things have happened.
While we’re here-we’ll add to the good news! On September 7th, 2021, El Salvador will officially be making Bitcoin “legal tender” in the country to match US Dollars. This is a monumental moment for the Bitcoin community, and many Bitcoiners out there are working together to coordinate a celebration of sorts to commemorate the moment. On September 7th, there is a large group of people who are planning to buy $30 USD worth of BTC. While this could have a great effect on Bitcoin’s price, or could have not much of an overall effect, one thing is certain: the Bitcoin Community is strong. While it is great to buy $30 of Bitcoin, we think it’s even better to MINE BITCOIN and we know many new miners will be looking forward to getting their toes in to the world of Bitcoin Mining, Crypto Mining, Mining Pools, and more as well, all because of this moment. Word of mouth marketing has been Bitcoin’s, and many other cryptocurrency’s, best method of promotion, and it doesn’t appear the trend will end anytime soon. But, nobody knows for sure what will happen.
So, the recent price movements we are seeing are likely a combination of recent events, market sentiment, and a snowball effect of momentum that has been slowly but surely building up for months….and it probably does not hurt that more people are looking at buying crypto during the holiday weekend because standard stock markets are closed and so on. Whatever the case, when you see the prices of your favorite cryptocurrencies like Bitcoin, Dogecoin, Ethereum, Cardano, Litecoin, and more, you can feel good and also know that your Labor Day 2021 may be a bit brighter if you have a small slice of the crypto pie.
While we’re happily mining away, we also want to wish you a Happy Labor Day 2021 from The MinedPool Technologies Team. Be sure to blink and don’t just stare at your Bitcoin and crypto price charts all weekend, but do be sure to enjoy the positive things this Labor Day 2021 and don’t forget to tell your friends about your favorite crypto and why the should buy and mine just like you do.