The Rise Of Bitcoin’s Latest NFT Craze

You might find this funny, but I am Rune Punk 70374261

If this was a rycptopunk on ether it would be worth about $150,000, but it is not and it is on the bitcoin blockchain instead via the runes protocol. It might be worth $15.

Runes are an evolution of ordinals both created by Casey Rodarmor. These protocols enable Ethereum blockchain-style behavior, particularly NFT-like digital objects.

Runes are the new latest “latest thing” for bitcoin.

If bitcoin is heading for $120,000 then runes will be heading for the moon, too.

Here is bitcoin as I write:

It looks good but the roadmap remains as shown on this chart shows:

Or refined with the passage of time:

Everything revolved around either a moon above $100,000 or a sudden crash back and even through $40,000.

Right now It’s looking bullish because bitcoin is at a tantalizing level that can easily rally into a breakout.

Don’t be fazed. Only one in five moves towards a channel top turns into a breakout, or that used to be the statistic when I did the analysis years ago. If the breakout comes it will be time to look at ether and other majors as well as bitcoin and it will also be time to hunt out the latest, latest, thing destined to be the fairy on the Christmas tree of the last leg of this crypto cycle.

So while you sit and wait, it’s worth skilling up on ordinals and runes, because as someone who has already made decent money from them and as a holder of a runestone, runes will certainly do well if bitcoin
Bitcoin
can vault $100,000.

Disclosure: I own bitcoin and either.