Realistically the question is how far can it go.
Ie how much wealth can transfer to it. Easily 1 trillion can shift to btc in the next 15 days. $711,835,120,885 is what it reads this morning on coinmarketcap.
It could go to $1,711,835,120,885 by the time Biden is sworn in. (if he is sworn in).
I live in the USA. I am happy I have coin in case I need to leave the USA.
Lots of players are thinking fuck what happens if the USA shit is not over. I got money that could be frozen. I know I will get some BTC just in case.
To think that 1 trillion could come in to btc by Jan 20-22 is not crazy.
1 tril actual shift would not result in a 1.7tril market cap.
The price move is ALWAYS a multiple of money moved (by a factor of 10X, typically).
As far as $1.7 tril market cap (that would be just below 100K), it is well within my expected range for the first hump in two-hump scenario that woonomic now favors as well.
Solid money management, albeit, if money can be frozen, then what good would that selling do?
In any case-respect for a conservative money management.
That said, it would be interesting to see if truly big funds (Dalio, Blackrock, etc. ) are actually buying here en masse. We would never know, of course.
My take is the whole system (outside of bitcoin) has become unstable for a moment. Let's see if it would right itself up. I hope that it would.
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