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#Bitcoin 
just broke US$30,000, making it *A TRIPLE* since October.
What in the world is going on?
Hint: it has to do with $GBTC (and other big players) gobbling up the free float and cornering the market. https://twitter.com/bvddycorleone/status/1316441107308457984
just broke US$30,000, making it *A TRIPLE* since October. What in the world is going on?
Hint: it has to do with $GBTC (and other big players) gobbling up the free float and cornering the market. https://twitter.com/bvddycorleone/status/1316441107308457984
See here for more.
https://twitter.com/bvddycorleone/status/1329915650555383817
https://twitter.com/bvddycorleone/status/1329915650555383817
And analysts and news media are finally beginning to catch onto whatâs really happening...
âInflows into GBTC âare too big to allow... sustained negative price dynamics [for BTC].â JPMorgan's strategists estimate that GBTC is adding assets at a rapid clip of $1 billion per month.â https://www.investopedia.com/grayscale-trust-gbtc-is-key-to-bitcoin-price-jpmorgan-5093550
âThe figures underscore what many have described as an ongoing liquidity squeeze in Bitcoin, where large buyers suck up any available supply and remove it from circulation, sending it to cold storage for long-term hodling.â https://cointelegraph.com/news/bitcoin-supply-squeeze-heats-up-as-grayscale-buys-nearly-3x-the-btc-mined-in-december
Make no mistake, GBTC is the Key to this ongoing Mania. While a nasty washout may occur at any moment, I expect us to continue along the typical phases of asset manias so long as this dynamic persists.
If I had to guess, Iâd say weâre somewhere in between the âMedia Attentionâ and âEnthusiasmâ stage within the broader âManiaâ phase. In other words, weâve still got lots of runway...
