Yeah, I know, I know…What goes up must come down.
But that’s not to say we shouldn’t celebrate the highs, right? And we certainly should celebrate Bitcoin’s 12th birthday as it becomes that really popular teenager everyone wants to be friends with.
(Sidenote: It’s fun to be mass-market cool in school, but in adult world, it’s the geeks in the hoodies skulking in the dark corners that make it big-time)
Back to celebrations, here’s a bit of totally relevant and useful info you won’t find in the video:
Champagne corks can fly up to 60 mph (96.5 km/h) on their way out of the bottle.
Which explains why BTC has rocketed to the moon now that
it’s cherry’s been …sorry, now that it’s cork’s been popped.
Here’s how it works in the age-old tradition of sparkling wine production:
In the case of Champagne, carbon dioxide gas up to 6 bar is generated during the fermentation process and is not allowed to escape. The pressure builds to several atmospheres, so as soon as the cork is removed, the pressure above the liquid drops to one atmosphere. At this pressure, the liquid cannot hold as much dissolved carbon dioxide and the excess explodes out of the bottle bringing the liquid with it.
In the case of Bitcoin, the bullish pressure has been building up because of one big reason: A never-seen-before institutional demand that continued to drive up the capitalization and price of BTC. And all this interest by the fund-guys underlined the very essence of cryptocurrency – fiat currencies won’t reign supreme for much longer and it’s time to switch sides.Having said that, what is in the video are my thoughts on why shaking the bottle makes it a more memorable experience, when and if it will fizzle out, and why it pays to join The Crypto Vigilante and become a Champagne connoisseur.
In the spirit of the New Year, I’ll leave you with these thoughts about Bitcoin and bubbly:
- Cork means muzzle in French. Its purpose is to keep the bottle’s effervescent contents sealed tight to prevent leaking. Because once the muzzle is removed, the bubbles fizzle out.
- When things get hot, the cork is likely to explode when you least expect it.
- Finally, a warm bottle of champagne and poor technique in removing the cork can really be a dangerous combination.
Handle with care.
Crypto Economics Analyst