Bitcoin breaks $57K and rising.....
Updated
Hello my fellow Bitcoinistas!
Nothing special today. Just sitting back watching my hodl stack grow! According to Metcalf's Law Bitcoin is WAY UNDERVALUED according to the size of the Bitcoin Network and the price is currently trying to catch up IMO. Some are talking 100K to 300K minimum by the end of the year and that is totally possible IMO. Supply is dwindling and Demand is increasing. What else can happen to price? Plus, the market cap of Bitcoin is now over $1 Trillion Dollars and that is the trigger releasing a whole new class of institutional investors to get involved. Many large funds cannot buy assets valued under $1 Trillion. This is no longer an obstacle for Bitcoin. Many, many reasons for higher prices going forward. Time for me to just sit back and watch. :0)
At any rate, just posting this chart to watch the action going forward.
Have a great weekend!
BBS Out.
Nothing special today. Just sitting back watching my hodl stack grow! According to Metcalf's Law Bitcoin is WAY UNDERVALUED according to the size of the Bitcoin Network and the price is currently trying to catch up IMO. Some are talking 100K to 300K minimum by the end of the year and that is totally possible IMO. Supply is dwindling and Demand is increasing. What else can happen to price? Plus, the market cap of Bitcoin is now over $1 Trillion Dollars and that is the trigger releasing a whole new class of institutional investors to get involved. Many large funds cannot buy assets valued under $1 Trillion. This is no longer an obstacle for Bitcoin. Many, many reasons for higher prices going forward. Time for me to just sit back and watch. :0)
At any rate, just posting this chart to watch the action going forward.
Have a great weekend!
BBS Out.
Comment
Looking good so far! :0)Disclaimer
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