Everything is good for bitcoin.McRib was nasty
Those .01% of addresses include major trading platforms, the ETFs, and companies like Microstrategy. Some of mine is at those .01% of addresses.Off to what? Are you predicting 100k by the end of the year? I remember you said something about Thanksgiving. That would certainly be a big move given that the price has remained rangebound 55-70k for the past six months. To me it looks like the whales and professional traders are just managing the price to their benefit, regularly pumping then dumping on their reliable HODL buyers. Between Tether printing, the lack of oversight/regulation (enabling massive amounts of wash trading to move the price), and the sheer concentration of wealth to a few addresses (.01% of addresses hold over 50% of the mined BTC) Bitcoin is probably the most manipulated asset/market on the planet. Whatever price moves Bitcoin makes at this point are just the whales continuing to shake dollars out of delusional HODLer pockets.
It turns out that the Commonwealth of Pennsylvania passed a bipartisan bill regarding Rights to Bitcoin.I saw recently that a BIG announcement is about to be dropped tomorrow. Stay tuned.
If Mircrosft does buy Bitcoin psychologically that will be a huge deal. If one of the bluest of blue chip companies starts stacking bitcoin on its balance sheet it will become acceptable for other large companies to do it.
That would make $250k by Dec ‘25 my base case…they wouldn’t have to announce until Q1 at the earliest and maybe even Q2 I think.If Mircrosft does buy Bitcoin psychologically that will be a huge deal. If one of the bluest of blue chip companies starts stacking bitcoin on its balance sheet it will become acceptable for other large companies to do it.
That would make $250k by Dec ‘25 my base case…they wouldn’t have to announce until Q1 at the earliest and maybe even Q2 I think.
I really hate to say “supercycle” since everyone who has so far has been dead wrong but…?
I agree, just saying it would take something unprecedented, like one of the FAANG buying BTC as a reserve asset, for that to happen. Personally I think that is yet a cycle or 2 out from here.Generally any time we hear talk of a super cycle and the price will never drop that means it’s time to sell. Like if btc is going from 150k to 200k for 6 months then people say “super cycle, the price will never drop ever and it’s only up from here” then we are done and it’s time to sell.,
Its way to early to call this a super cycle
That would make $250k by Dec ‘25 my base case…they wouldn’t have to announce until Q1 at the earliest and maybe even Q2 I think.
I really hate to say “supercycle” since everyone who has so far has been dead wrong but…?
Either way, I'm being vindicated.Things seem to be lining up nicely for a bull run peak sometime in 2025, as many people have been expecting. Plan accordingly. Don't FOMO buy -- be patient until the mania ends. Sell strategically (or keep hodling).
That seems a bit high. I am guessing the peak will be 120-150k. I admit, I am just pulling this number out of the ether though (pun intended). Let's see what happens.