Bitcoin price of 29k makes as much sense to me as a bitcoin price of 100 dollars. I do not understand either of these prices.
Either I am right and see something others do not, or I am missing something major.
The market cap should be 5-7 trillion….
Discussion
5-7 trillion?
Where’d you get that number from?
I have no analysis to back up my price target, but in my mind, I thought bitcoin would overtake gold’s market cap before the next halvening….so 5-7 trillion with another 3 trillion to go before April seemed reasonable.
Things happen a lot slower than anyone expects.
Long term, global GDP is around 90 trillion per year. So, it should eventually become multiples of that (if it becomes a global currency).
But we’re likely talking decades.
🎯
I am committing to stack as hard a possible until the next halving. I’m late but won’t be left out🤙🏻⚡️#bitcoin
cognitive dissonance
You likely underestimate the conservation of social momentum.
When we look at great moments in history, we are mostly unable to appreciate how long things bubble until they explode.
For instance we do know how quickly things took a turn with WW2 since 1938, but things were getting increasingly out of hand for 20 years nonstop before that.
The first automobile came decades before cars were widely adopted, or even widely considered to be a good idea vapable of replacing horses pretty much everywhere.
It has been 15 years since btc whitepaper and 5 years since the general poblic even found at Bitcoin can be a valuable thing.
Just a year or two back minister of finances in my country publicly said, that nobody will care if you don't tax a couple bitcoins. (bc she thought it's the price equivalent of a couple cents) That's not your auntie Greta. That's the minister of finances of a relatively developed country that is actually quite ahead in adoption and innovation of BTC tech. (home of the first mining pool and the Trezor cold wallet)
We are living in a bubble. Most people know next to nothing about btc and it's potential and before that changes a lot of time will yet have to pass.
That's why you just stack sats and sit back. Bitcoin is not a revolution, it's evolution. It's slow, but inevitable.