Thanks for answering my question buddy. Really appreciate it.
Taking in the analysis and any possible outcome point of view, I know it would be the best possible prediction that it would hit 50k mark in price.
My follow up question if you don't mind. Looking at faith could actually affect the market, the question is how much of it could affect the price of bitcoin/altcoins?
I'm interested in this because in stock market "faith" could be overturned and causing mass depression which we could see in the past. There are enough pain caused by FOMO in the market that It will be very difficult to believe anything that looks like a pump and dump scheme.
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You're most welcome.
This is an interesting questions as in prior cycles pretty much the only driver was sentiment / faith / hype / mania.
This cycle we have a clear shift in market fundamentals ie just 2 million BTC on exchange, just 4 million in weak hands (including the first 2 mentioned I think?), institutions actually buying instead of just rumours, more active wallets than there will ever be bitcoin.
That side of things isn't really my strong suit, but I'd warrant with these new drivers combined with the longstanding undying faith, we'll be able to put in a comparable cycle.
You may have seen this video from the microstrategy conference, but if not, well worth a watch - either the whole thing or especially the last 20m - https://leofinance.io/@rollandthomas/microstrategy-s-bitcoin-summit-day-1
(via @rollandthomas)
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Oh, much appreciated there buddy! I'll take a look at the microstrategy. As always keep on writing and thanks for your time.
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