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Jul 14 • 🤣 Memes
This is what's happening right now with bitcoin
Bitcoin price just hit another all time high of $123,000 USD.
But look: the price of bitcoin has always been volcanic.
You can look back and see that BTC's price likes to stay dormant and do "nothing" for months, and then suddenly goes boom.
Roughly 90% of BTC’s upside gains have come in 30 day spurts.
Miss these 30 day bursts and you'd miss the gains.
This is because for all the "dormant" months, weak hands sell at the same rate that diamond hands buy.
Eventually the diamond hand buyers out last all the weak hand sellers and the BOOM we see an eruption in price.
Could this change?
In the future, could we see 60, 90, or even 180 day spurts?
Yes, and that's what we may be seeing now...
Here's why:
Price sideways = equal amount of buying & selling happening.
Price down = more selling than buying happening.
Price up = more buying than selling.
But we're moving into an era of WAY MORE buyers than sellers.
Historically "retail" AKA regular everyday people like me, you and your neighbour are the ones who have pushed the price up with our paycheques.
And when price goes up, retail likes to sell to take a profit.
But now?
There's a new type of buyer in town.
A buyer who doesn't use paycheques, but uses infinite debt.
A sophisticated buyer with infinitely deep pockets who doesn't ever plan on selling AND who doesn't plan on buying ANYTHING else except bitcoin...
And this new type of buyer isn't alone.
This new buyer is arriving in masses by the boatload.
100's of billionaires, mega corporations and even countries are buying BTC like they're life depends on it... because it does.
Without bitcoin, they're doomed.
They need it as much as we need it.
The result?
We're seeing massive buying pressure right now...
Buying pressure like we've never seen before.
And the craziest part?
Retail (the sellers) are nowhere to be seen!
Retail wallets are at VERY low activity levels.
Very few are buying, even fewer are selling.
It's the whale wallets that are seeing all the action...
And by action I mean... just buying buying buying.
So...
Welcome to this new era of "institutional & nation state adoption" where the price may not come back down in 30 days and could just keep going up forever...
You never know.
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This is what's happening right now with bitcoin
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