Don’t be surprised when #Bitcoin goes to $1 million post spot ETF approval. Market cap doesn’t increase linearly ($1 BTC buy doesn’t make market cap go up $1), there’s a multiplier effect.
The funny thing about Bitcoin is, the more its value in dollars (or other fiat) rises, the more desirable it becomes. With rising exchange value it displaces more and more of the utility otherwise occupied by fiat.
It's not that i would be surprised. Bitcoin could defenately be rhe black hole for Fiat currencies. I'm just infinitive curious now what will happen. There is so much possible scenarios and not all of them end good for the ETF issuers. Really really curious nostr:nevent1qqsrvna93ufwead6e9h3twazzcc07nfrntdeq4pjaq4cs89nfr0ph4gpz3mhxue69uhhyetvv9ujuerpd46hxtnfdupzpjd3nl7dg0n2tu3m85n3qm8pne9d9hufhggrrh2xzlcmty0ppzt9qvzqqqqqqy43e87l
K bruh- then I’m a sell it and pay off muh student loans and buy the dip
Risky business.
We’ll see
I want to jump on board with this train of thought, but I still prefer to stay with the 'this is going to take a while' mindset. I'm ready for a crazy pump with the BTC I have, but my friends and family are not. Unfortunately I'm still the crazy Bitcoin guy, 4 years on. 🤷
I’ll be bummed because I want to stack more. I hope I’ve done enough for my descendants.
Do you agree with Bank of America's bullrun market cap multiplier (heard about it from British HODL). Something like 50-120X can't rememebr. This multiplier effect is something I did't understand until he talked about it. It's fascinating. And I believe something that people who think conservatively about price predictions definitely din@5
Which multiplier are you working with chief? Genuinely curious.
In the past when i saw messages like this, my face would be ripped off because the price would dump on me
Yeah. Then at the million stage, bitcoin could really take off again. Price keeps going up and you just can’t get any bitcoin as holders freeze into lift off position. Then the ETF is used to suppress btc steady at something like 100 million when it should have gone near infinite. Lol 😂 could happen! …Poor humble bitcoiners not able to spend fast enough.
Yep! Only something like 3M BTC actually for sale, right? (At anywhere near these prices anyway.)
no one clearly explains the multiplier effect, pls explain so my small brain can learn :)