The coins aren’t moving. When Bitcoin reaches $100K, $200K, $500K, the hardcore psychopath Hodlers aren’t selling. They’re doubling down, because they’re conviction that they’re right and will continue to be right will have quadrupled. They’re not selling no matter what.
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10 sats \ 3 replies \ @TheBTCManual 21 Oct 2023
If it reaches 100k you still have miners generating just above 3 BTC every 10 minutes after the halving and a portion of that is dumped on the market, thats a lot of cash required daily to maintain these prices, hodling is one thing, driving up demand to gobble up the current float and new additions is a totally different beast
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0 sats \ 2 replies \ @harrr 21 Oct 2023
Block reward halves, DCA army still buys for the same fiat amount, price doubles, nothing really changed.
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0 sats \ 1 reply \ @TheBTCManual 21 Oct 2023
Yeah but for anything above the basic doubling of price to meet demand, requires a massive increase in either the amount of stackers or the amount of capital they are willing to commit each day
You will also have to contest with periodic selling as you hit certain price points like 70k,80k,90k etc
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0 sats \ 0 replies \ @harrr 21 Oct 2023
Nah, it only needs some media attention and FOMO like previous halving cycles have shown.
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0 sats \ 0 replies \ @harrr 21 Oct 2023
Lol, somebody else who doesn't understand bitcoin and digital scarcity.
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