Im just mulling over the evolution of the digital asset space...
My thoughts are that obviously we are mid cycle in this bull run. The two big breakout developments this time were Defi and NFT's. 1/2
A larger monthly jump to #bitcoin $48K would create a nice gap between monthly dots. These gaps usually mark the point of no return (red arrows), i.c. the phase transition to #phase5
@JoshuaGilmer@coingecko If BTC market cap went to the same size as the world reserve currency (USD M2 supply), 1 sat would roughly equal 1 cent. Then we have milli-sats (1/1000 of a sat) on the Lightning Network as a curtesy to robots for when they take over the world.
Think of it less in terms of the “price of bitcoin” and more in terms of the “exchange rate between BTC & USD”
Now consider what happens as the supply of bitcoin remains fixed (21M) while the supply of dollars becomes infinite.
The previous two times Bitcoin saw a >40% daily gain, it was trading at $0.40 and $5.65.
Today, Bitcoin’s 42% swing is the 3rd largest daily gain in price history.
Data via @coinmetrics
People are seriously underestimating #crypto. 1-10 trillion dollar market caps are just a pit stop on the way to 100T+ market caps. #Cryptocurrency is going to become the largest asset class. This will happen much faster than many people believe is possible.
$TRX $BTT $WIN
#TRON
Look how early we are! Imagine the price when #Bitcoin has as many users as fortnite! There's only 19 million #BTC addresses worth over $1. And most users have more than 1 address. The fortnite video game got 250 million users in 2 years.
Bitcoin is an experiment and can fail at any time. Don't put more than you can afford to lose. Try to actually use Bitcoin. Buy or sell when it makes financial sense for you. HODL if you’re not interested in trading. Hyperbitcoinization. $500k+/BTC. Institutional money. Eat meat.