For Bitcoin to hit $1M next year we’d need another approx 18 trillion added to market cap. Is that correct ? Seems highly unlikely if so.
Discussion
I think you're right for total market cap. However there's a multiplier effect, if things get bullish and people don't sell then my guess is 5 trillion in buying would probably be enough to get the market cap up there
whatever it takes it will be a lot, I always take prognostication with a grain of salt and just enjoy the volatile ride up
no. you just need all people selling to only accept 1m per bitcoin
This what so many people don't get.
I don't know who's selling their sats for these bargain prices, but eventually there'll be no more of them left.
Supply crunch 😜
Whales are selling as part of their speculation (a.k.a. trading) on CEXs. Nothing else matters. If they stop, everyone stops.
Because of this speculation, the price does not appreciate fast enough, and whatever gains there are, they are just because they allowed. Because of slowness I need more bitcoin than I already have. Because of that I join them in speculation.
For as long as whales and government monopolies on violence exist, they will always determine price and anything else. We can hold or sell, it does not matter.
Well it matters, bitcoin math is on our side, but it will take many many generations to take their power away against their will. The ones alive today are basically at their mercy.
But if we stay poor or get poorer while hodling, while they do bad things to get richer, we are not helping ourselves, we are helping them. So, don't get poorer, and if you know how, get richer, but without making the superpowerful richer and more powerful.
That might have been true up until the ETFs were launched.
Bitcoin whales are small in number & size compared to the fiat whales.
The fiat whales are short Bitcoin & I'm pretty sure they are establishing positions still.
FAFO
Extremely based!
Think logically. Who in their right mind will sell a finite asset at any price at all for any reason other than hunger? Nobody.
It is just whales playing their bs political socialist games and games of "honor" in between them. And they are not decentralized competing entities. There is no open market. P2P trade is only like dogs following the caravan accross a desert, or else they'll struggle with water and food. The price is what it is because the whales set it such. Their only real limiting factor is they cannot erase nor confiscate bitcoin completely. So they know they have to live with it. Everything else, including current price they control with only their guns and masses of normie meat (not yet amount of bitcoin) determining which one of them has the final say.
Similarly, like bitcoiners' fault selling at these prices, if you ask government why you are sick and weak, they will say it is because of your lack of exercise, unhealthy food, genes, and all that, basically it is your fault. They could literally force you to only eat meat, and that would at once ensure you are incredibly strong and never sick. But why would they. You are more useful to them when weak and forever sick. So they use their power to load you with vegetables, supposed vitamins, literal poison disguised as medicine and other plant derivatives and fool you into believing it is your own fault.
As you can see, government people are weak and sick themselves. Which clearly shows that they are only puppets of secret entities.