𝗧𝗵𝗲 𝗥𝗲𝗮𝗹 𝗕𝘂𝗹𝗹 𝗥𝘂𝗻 𝗛𝗮𝘀 𝗬𝗲𝘁 𝘁𝗼 ₿𝗲𝗴𝗶𝗻

There has been a lot of talk about the #Bitcoin price lately. Lots of people are excited about recent price movements. And after a ~𝟭𝟮𝟬% 𝗶𝗻𝗰𝗿𝗲𝗮𝘀𝗲 𝘁𝗵𝗶𝘀 𝗰𝗮𝗹𝗲𝗻𝗱𝗮𝗿 𝘆𝗲𝗮𝗿 𝗮𝗹𝗼𝗻𝗲, that excitement makes sense.

But remember: This isn’t the bull run. This is just a warmup.

There are several factors that will likely coincide to make the coming bull run something of legend. 𝗙𝗶𝗿𝘀𝘁, Bitcoin’s hashrate has been repeatedly making new all-time highs. 𝗦𝗲𝗰𝗼𝗻𝗱, the SEC is running out of excuses for delaying the Bitcoin ETF much longer. 𝗧𝗵𝗶𝗿𝗱, and 𝘱𝘦𝘳𝘩𝘢𝘱𝘴 𝘮𝘰𝘴𝘵 𝘪𝘮𝘱𝘰𝘳𝘵𝘢𝘯𝘵𝘭𝘺, the halving is only a few months away.

𝗛𝗮𝘀𝗵𝗿𝗮𝘁𝗲

History has shown that Bitcoin's price follows its hashrate. Before there was any price, there were miners who secured the blockchain with their hashes, or the work required to find each new block. Eventually, the ledger became secure enough to give users enough confidence to store a little of their wealth there, and Bitcoin began to trade at a price.

A cycle soon began in which the rising price makes users want to mine more, which secures the chain more, which inspires more confidence and demand, and those lead to higher prices:

And now the hashrate is almost 𝟱𝟬𝟬 𝗲𝘅𝗮𝗵𝗮𝘀𝗵𝗲𝘀 (or almost 500 𝘲𝘶𝘪𝘯𝘵𝘪𝘭𝘭𝘪𝘰𝘯 hashes every second! 🤯), and frequently reaching new all-time highs. This heightened security isn’t widely known yet, so the confidence, demand, and price haven’t caught up with the hashrate yet, either. 𝗕𝘂𝘁 𝘁𝗵𝗲𝘆 𝗮𝗹𝘄𝗮𝘆𝘀 𝗱𝗼.

𝗕𝗶𝘁𝗰𝗼𝗶𝗻 𝗘𝗧𝗙

There’s a lot of noise out there about an eventual Bitcoin ETF. While the SEC will likely keep dragging its feet on approving one, many believe that it’s 𝘮𝘰𝘯𝘵𝘩𝘴 away, not years. And as we’ve seen from a price spike following false alarm that the ETF had been approved, the market has not priced it in by any means.

Not that a Bitcoin ETF will really matter in the long run. Yes, it will attract many large institutions, and raise the Bitcoin price significantly, but 𝗶𝘁’𝘀 𝗻𝗼𝘁 𝘁𝗵𝗲 𝘀𝗮𝗺𝗲 𝗮𝘀 𝗮𝗰𝘁𝘂𝗮𝗹 𝗕𝗶𝘁𝗰𝗼𝗶𝗻 𝗮𝗱𝗼𝗽𝘁𝗶𝗼𝗻. Sovereign bitcoiners should avoid it, and leave the legacy fiat institutions to play their fiat games and win fiat prizes.

𝗧𝗵𝗲 𝗙𝗼𝘂𝗿𝘁𝗵 𝗛𝗮𝗹𝘃𝗶𝗻𝗴

As I explained recently, the next halving will make Bitcoin’s stock-to-flow ratio jump from about 59 to over 120. Historically, the higher a money’s stock-to-flow ratio is, the better it is as storing value, and thus far, gold has had the highest stock-to-flow ratio of any former type of money, at around 62. 𝘏𝘶𝘮𝘢𝘯𝘪𝘵𝘺 𝘪𝘴 𝘴𝘪𝘮𝘱𝘭𝘺 𝘶𝘯𝘱𝘳𝘦𝘱𝘢𝘳𝘦𝘥 𝘧𝘰𝘳 𝘢 𝘮𝘰𝘯𝘦𝘺 𝘸𝘪𝘵𝘩 𝘢 𝘴𝘵𝘰𝘤𝘬-𝘵𝘰-𝘧𝘭𝘰𝘸 𝘳𝘢𝘵𝘪𝘰 𝘵𝘩𝘢𝘵’𝘴 𝘢𝘴 𝘩𝘪𝘨𝘩 𝘢𝘴 𝘉𝘪𝘵𝘤𝘰𝘪𝘯’𝘴 𝘸𝘪𝘭𝘭 𝘣𝘦!

The price today is the result of supply and demand, where the supply is 6.25 new bitcoin approximately every 10 minutes. But in a few months, the new supply will be halved down to 3.125. If demand just stays the same, 𝘸𝘩𝘢𝘵 𝘥𝘰 𝘺𝘰𝘶 𝘵𝘩𝘪𝘯𝘬 𝘵𝘩𝘢𝘵 𝘸𝘰𝘶𝘭𝘥 𝘥𝘰 𝘵𝘰 𝘵𝘩𝘦 𝘱𝘳𝘪𝘤𝘦? And if/when a Bitcoin ETF and the rising hashrate create 𝘮𝘰𝘳𝘦 demand, then 𝙘𝙖𝙣 𝙮𝙤𝙪 𝙞𝙢𝙖𝙜𝙞𝙣𝙚 𝙬𝙝𝙖𝙩 𝙩𝙝𝙚 𝙥𝙧𝙞𝙘𝙚 𝙬𝙞𝙡𝙡 𝙙𝙤? Probably not.

𝗕𝗼𝗻𝘂𝘀: 𝗙𝗶𝗮𝘁 𝗖𝗼𝗹𝗹𝗮𝗽𝘀𝗲

Let’s not forget the many signs that are pointing to a recession — and perhaps even complete collapse — in the near future. Everything from treasury yield curves, to rising unpaid debt, to multiple wars, to the money printer that will undoubtedly be used to “fix” all those problems, plus more… 𝗮𝗹𝗹 𝘁𝗵𝗼𝘀𝗲 𝘄𝗶𝗹𝗹 𝗹𝗲𝗮𝗱 𝘁𝗼 𝗴𝗿𝗲𝗮𝘁𝗲𝗿 𝗱𝗲𝗺𝗮𝗻𝗱 𝗳𝗼𝗿 𝗕𝗶𝘁𝗰𝗼𝗶𝗻 𝘁𝗵𝗮𝗻 𝗲𝘃𝗲𝗿 𝗯𝗲𝗳𝗼𝗿𝗲!

So enjoy these small price increases, but 𝘦𝘴𝘱𝘦𝘤𝘪𝘢𝘭𝘭𝘺 take advantage of these low prices! And no matter what the price does, 𝗮𝗹𝘄𝗮𝘆𝘀 𝗿𝗲𝗺𝗲𝗺𝗯𝗲𝗿 𝘁𝗼 𝘀𝘁𝗮𝘆 𝗵𝘂𝗺𝗯𝗹𝗲, 𝗮𝗻𝗱 𝘀𝘁𝗮𝗰𝗸 𝘀𝗮𝘁𝘀.

But what do 𝘺𝘰𝘶 think?

Are you bullish or bearish on Bitcoin’s price?

Let me know in the 𝗰𝗼𝗺𝗺𝗲𝗻𝘁𝘀⬇️

You’ll want to remember this one for later, so make sure you 𝗕𝗼𝗼𝗸𝗺𝗮𝗿𝗸🔖 it and give it a 𝗟𝗶𝗸𝗲🤙

And 𝗦𝗵𝗮𝗿𝗲🔄 it with those who aren’t bullish enough!