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Gray Scale Selling Tapering? Bitcoin Target 4 to 16 million ???
10 sats \ 3 comments \ @cryptofolyo 29 Jan 2024 bitcoin
As on today the entire GBTC outflow absorbed by blackrock inflow. And new funds like Chinese Bticoin ETF planning to enter market.
In few days 10000 BTC inflows daily will be a regular thing which is 20 times more than the impact of the halving event ) ( 900 - 450 = 450 BTC daily )
In which case compared to the past bull cycles of 10 to 20 x in 2013 , 2017 and 2020 this years bull may be 10 to 20 times of regular bull cycles
That means 100 to 400 times current value for bitcoin or 4 million to 16 million price targets by end of the cycle.
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235 sats \ 1 reply \ @grayruby 29 Jan 2024
Yes selling is tapering. Blackrock and Fidelity etf volume combined was 100M more than GBTC which is the first time that has occurred. That being said don't get wrapped up in ridiculous price predictions. ETFs can be net sellers too if the price goes up enough. Stay humble and stack sats. We will get to your 4M price target but it will probably be 15 years from now, not 15 months from now.
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0 sats \ 0 replies \ @siggy47 29 Jan 2024
Shit. I just ordered my lambo. Orange
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0 sats \ 0 replies \ @kurszusz 30 Jan 2024
The theory is good, and welcomed! But we need to take in consideration that this amount of Btc will enter gradually, and after halving it is possible a retracement ( to shake paper hands), and this coincide with the FED policy... But I agree about your expectation of the next bull cycle... My oersonal opinion is, that this will be the last bull cycle in this form, because of mass adoption...Btc will become "boring", without extreme volatility...will become like SPX, but with a much higher market value and capitalization
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