@BritishHodl
I was wondering what might happen to Bitcoin after a Spot ETF Approval.

This is the yearly chart for Gold.

Gold rallied roughly 350% in the 8 years after GLD was approved.

Here's why Bitcoin will rally harder than Gold:

1. Finite supply. You can't just mine more Bitcoin to match ETF demand which is what happened in the Gold Market.

2. Multiples are tighter. Gold requires roughly $1.6bn (according to BofA) to move the Gold market cap by 1%. Bitcoin needs just $93m according to the same research.

3. Bitcoin is increasing it's adoption rapidly and seen as more than a reserve asset.

Safe to say #Bitcoin  would rally much harder than Gold.

How hard? Let's think about it.

If it took $1.6bn to move Gold's market cap by 1% and it takes Bitcoin just $93m.

Just, approximate math here, not a deep dive study.

That means Bitcoin could rise by 76x more over the same period, not taking into account finality of supply.

So if a Bitcoin ETF is approved by $40,000.

Gold went up ~350% in 8 years.

That equals $140,000.

Now, times that by 76 and you get...

$10.64m per Bitcoin over the same period.

Assuming a lot stays the same - which it won't.

And this is without 20+ other considerations to Bitcoin's supply tightening due to demand not being even looked at.

I also think supply constrains FURTHER as the price goes up and more financial facilities come up to generate liquidity without selling.

No one is truly ready for true scarcity.

https://x.com/britishhodl/status/1692560395486073310

A brief and vague (opsec) life update....

It's been a little challenging in recent times. A new, powerfully charged relationship, amazing at times, desperately hard work at times. Too much to handle for this lover of the peaceful life, and so recently ended. Sad and not sad at the same time, if that makes sense. Still concerned for her welfare though and pondering how much help to provide and in what form. An ongoing conundrum, trying to do the right thing as best I can, while also looking out for myself, something which I may have neglected a little too much this year.

Parents are getting old and with that come many challenges. Again, how much help to give and how much personal life to sacrifice? I’ve gone heavy on the latter, with a great impact on my own quality of life. But it feels like the right thing to do. I’m sure sometime in the future I’ll be glad of the sacrifices I’m currently making, to spend time with them while I can. Life is short, old age is brutal and time with loved ones is priceless. I don’t think I’ll regret my decisions in years to come.

And bitcoin - jeez, thank goodness for bitcoin. Without it, I wouldn’t have been able to have made the decisions I have made. Most importantly, it’s allowed me to provide comfort to loved ones. Bitcoin doesn’t fix all of the above, but it has made things one hell of a lot easier. Being my own bank, my savings buffered from interference by governments and banks and anyone else who would try to dilute my purchasing power or steal the fruits of my labors by some other nefarious means - a real blessing.

Who gives a fuck what the price is right now? It’s ten years from now which really matters. Buy, zoom out, hodl. Simple. Your ageing parents, kids, spouse, friends or anyone else you give a shit about will thank you later. Or they might not, but you’ll thank your younger self. But more than 20% of us here know that already, right  

Sure.  Perhaps it is retarded, but why?  which parts?  the whole thing? or you just don't like that the BTC price had dipped below $26k?

In other words, which parts of the article do you consider as retarded?  Does the article make any valid points? or is just everything about the article retarded?

I did not read the article in detail in order to try to figure out the "what is retarded" puzzle, yet I did glance over it, and I saw some potentially decently valid points being made (whether I agree with them or not), but it was not obvious on the face of it regarding it being a retarded article.. absent pointing out which part(s), and maybe, perhaps?, I might possibly agree with your conclusion.. perhaps?


What do you mean?

We are no longer in a bull market?

By the way, we did not even break below the don't wake me up range (yet), so sure I am getting a little bit excited since we are now in the lower end of the range rather than the middle, but I am having trouble to suggest that we might have  had been in a bull market, and then merely because we have broken down to the lower end of the seemingly current consolidation range that we might have left the bull market.  Is that what you mean?

Or maybe you do not even know what you are saying since I see that you have both quoted a twitter source, and you also posted the words in the twitter post that cause some confusion about whether those are your words or they come from the twitter source.. and I had to click on the link in order to see that you were using the words from the twitter post in order to put that in your post...

Oh?  #amateur 

Maybe you feel like you did adequately in your post, and I suppose that the hashtag also applies to Bawb's lack of explanation post.

Explanation
Chartbuddy thanks talkimg.com

l got some at 27
I got some at 26

and I will get more later tonight

 

While for many (perhaps most) it may be a speculative asset, there are many who use Bitcoin for practical reasons.

It is still the fastest and cheapest way to send money around the world.

As far as I am concerned,  we are still very much bullish, at least until we break the lower end of the range ("don't wake me up range"). I feel what is playing out is just market seeking liquidity which is normal. Before most major move, market do do exhibit this kind of shock which is in the form of a sharp move in the opposite direction of the intended direction. Those who understand this are not perturbed one bit.
One good thing I love about bitcoin is that you are only at a loss of you sell... so market can do whatever it want, so long as I have my bag intact, I  am not worried. After all, we are here for the long ride.

Explanation
Chartbuddy thanks talkimg.com

Explanation
Chartbuddy thanks talkimg.com

Explanation
Chartbuddy thanks talkimg.com