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I’ve never been this excited about the potential of #Bitcoin 
for significant price appreciation in the short term (less than 18 month time frame.)
Why? Read on...
for significant price appreciation in the short term (less than 18 month time frame.) Why? Read on...
First the technicals...
As a hard asset with a stock to flow that will approach infinity #Bitcoin is the perfect hedge against inflation.
As a hard asset with a stock to flow that will approach infinity #Bitcoin
is the perfect hedge against inflation.
Bitcoin has been less volatile than many stocks this year while its price has appreciated over 25% in 2020.
The long term price chart is showing a super bullish descending triangle (continuation) pattern off the Jan 2018 highs.
The actual float for #Bitcoin is likely significantly less than the total Bitcoin mined, probably by a factor of 25-50%, due to lost keys, lost passwords/2fa access, breakage, dust, etc.
is likely significantly less than the total Bitcoin mined, probably by a factor of 25-50%, due to lost keys, lost passwords/2fa access, breakage, dust, etc.
Tether, the most used USD stablecoin is now worth $15 billion, $5 billion more than a few weeks ago. USD Inflows into Tether have invariably found their way into #Bitcoin .
.
There is also psychological momentum for #Bitcoin ...
Bitcoin is held by a relatively small number of wealthy early adopters. Even a small increase in this holder base would cause significant price appreciation.
...Bitcoin is held by a relatively small number of wealthy early adopters. Even a small increase in this holder base would cause significant price appreciation.
In 2017 #Bitcoin didn’t have the support of Fidelity, Bakkt, CME, Harvard University, Chase, Grayscale, Ameritrust, etc.
didn’t have the support of Fidelity, Bakkt, CME, Harvard University, Chase, Grayscale, Ameritrust, etc.
Recently, according to Coindesk, Chinese state-owned media outlets have made coordinated reports describing cryptocurrencies (ie #Bitcoin ) as the year’s top performing investment.
) as the year’s top performing investment.
The network effects of a run to $25k #Bitcoin would likely cause a run to $50k and beyond.
would likely cause a run to $50k and beyond.
The most important bank regulator in the US is the OCC. Its current head is very friendly to #Bitcoin and fintech.
and fintech.
Bottom line... I haven't been this bullish on short term price appreciation for #Bitcoin since 2015.
since 2015.
Getting a lot of DMs asking for advice here. 1. I’m not an investment adviser; 2. Bitcoin could plummet to $5k before going to $100k (or not) so don’t try to time the price. 3. Just invest an amount you’re comfortable losing. Or don’t. It’s all up to you!
