I'm aware of the positive effects that the approval of a Bitcoin ETF can have on the price, but listening to Michael Saylor, I've seen that there are two additional factors that can catapult the price to unimaginable highs.
I even wrote a post about the Bitcoin ETF 9 days ago. I want to share with you the other 2 important things that must occur for Hierbitcoinization according to Michael.
- Approval of Bitcoin ETF π(Q4 of 2023 or Q1 of 2024 with a 75% probability)
- Fair Value Accounting β (done)
- Being able to borrow against your Bitcoin using your regular bank. π(soon)
I fully agree with him. When regular people and business can buy Bitcoin, hold it in their banks and even borrow money against it, that's Game Over.
Hyerbitcoinization is programmed
It's a lifetime opportunity, we are able to front run Wall Street. Fucking buy Bitcoin!
You are not able to see the inevitable?
Wall Street is always ahead of the regular investor, but this time they can access the market without and ETF. We are able to load our bags before they push the price to new highs.
All of this thanks to this new asset class, thanks Satoshi for giving us this opportunity.
Bitcoin price
We are in a sweet spot right now. Bitcoin price is at 26,000$, maybe we will get a new opportunity to buy lower if we retest 24k or 22k levels. The biggest support is at 20k, but it's unlikely we get there IMHO.
Here my tradingview chart with my key support levels:
Somewhere between now and 2025 the bull run will begin at full force.
If ever in doubt:
ZOOM OUT!