BTC: What's Going on Next?
$iShares Bitcoin Trust(IBIT)$
Countries
Corporations
ETF's
Banks
Billionaires
Millionaires
Individuals
Ok, so how long do you think the outstanding supply, knowing that over 65% of all outstanding Bitcoin is locked up in wallets that haven't sold any Bitcoin in years, how long before the supply / demand issue pushes BTC to 7 figures? The long term HODL'ers who will not sell unless the price is 20x or more from current levels.
Even then most of those long term wallets are averaged in at much lower prices. How high a price will it take for many of these long term holders to let some go, $1M , $5M?
Additionally, the current daily demand is 20 times the daily amount of Bitcoin now being mined post halving, and that's just the demand from US based ETF's. This week the Hong Kong ETF's come online.
Now, who WASNT buying Bitcoin in the last halving cycle?
Banks
ETF's
Countries
Most other corporations
So how will this next 12-18 months of this bull cycle go? Think about it. 1/2 the supply, 100 times (at least) the demand.
I'm Ultra bullish. I believe the estimates of $200k - $250k this cycle are far too low. PlanB says $600k+ and that dude is right EVERYTIME !!!
HODL it's going to get crazy....
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