Bitcoin Power: Nasdaq Soars To New Record Highs

Many times I can’t help it,  but to look at this insane market from a science fiction perspective.   We have a Bitcoin mining driven induced mania, that could be putting a huge strain on the demands of electrical power. Without the Nasdaq or tech industry, there would be no Cyrptos, as most of the high flying Bitcoin mining stocks are in the Nasdaq. Ask yourself, “Will these Bitcoin miner stocks keep going up while the Nasdaq crashes?” More and more stories are coming out about the huge power requirement for Crypto mining operations. It’s  getting to a point where you have to build a small nuclear reactor attached to the mining rig for power and cooling demands.  Even the demand for coal for power generation has increased.

The next thing we may read about is that, “97.5% of experts agree Bitcoin mining is the cause of global warming”. They blame the industrial revolution caused global warming, yet a Bitcoin mining revolution draws more power, than the entire industrial revolution ever used. They say that even coal demand is driven by Bitcoin mining. Coal was also used to power the industrial revolution, so what’s the difference today?

Coal Is Fueling Bitcoin’s Meteoric Rise – Bloomberg

How Energy Investors Are Getting In On The Bitcoin Boom | OilPrice.com

One day the grid will get overloaded,  triggered by some wild CME from the sun. Many Bitcoin mining operations would come to a grinding halt including many electric cars and trucks.

The Stunning Energy Cost Of Tesla’s Semi-Truck | OilPrice.com

When a new record high is in the making, then I look for a potential correction to materialize. Another correction in a bullish phase can’t go that deep as it would then break out through any trend lines. At a minimum the Nasdaq would have to crash below the 6250 price level, but getting there may not be that simple as this market refuses to die.

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