#Bitcoin will continue to break records and models. Every price surge will add fuel to the fire of adoption, boy oh boy it’s spreading like wildfire. This metaphor is the only situation in which you shouldn’t listen to smoky the bear, or any bear for that matter, as not even the bulls are bullish enough.
This momentum that we are building isn’t the kind that will fade away over night. This is the type that wakes up with stronger hands and an insatiable appetite that grows as it devours.
There are assets that have the been running when denominated in #BTC , pricing assets in #Bitcoin is my new favorite thing… EVERYTHING seems overvalued.
It’d be a shame if something were to cut new supply entering the market IN HALF…
Daily demand for #Bitcoin ALREADY FAR OUTPACES daily issuance by 3.45x using average daily volume from February and current price (this is a conservative estimate of how undervalued I think #Bitcoin is at the moment.) $236k could just be a candle away. If everything stays the same and is projected forward, this is the price #Bitcoin would have to reach to restore equilibrium in supply and demand (something we might NEVER see again.)
There’s not enough #BTC to go around and the only way to accommodate is for price to increase or rehypothecation. Self custody is key here.
We are still experiencing lingering effects from the longest #Bitcoin winter ever seen *cough cough* Grayscale outflows…
But there’s deeper pockets on the sidelines than in Grayscale.
The entire world will be sidelined by the main event that is #Bitcoin , that is hope that we aren’t doomed as a civilization, but rather challenged to continue our growth hand in hand, peer to peer, and block by block.
