If you are not a regular reader of Trace Mayer’s articles you may miss some substantial information.
“There are only about 80,000 bitcoins of ‘float’ on a daily basis. Remember, prices are set at the margin. Simplistically and only for an example in aggregate, this means that if there is a positive funds flow into bitcoins of about a mere $4m then it will move the price by about $50.
So, obviously, if there are any large blocks of bitcoins, ‘walls’, are gobbled up extremely quickly by this hot money from VCs and Wall Streeters. If that float can be reduced from 80,000 to 40,000 then the same $4m will move the price $100. That means VCs and Wall Streeters will have to pay more dearly to get any bitcoins. Squeeze them for all they are worth!”
“You know what’s cool? A $150 per bitcoin? No, a $1m per bitcoin. It may take a decade to get there but the fiat currency market coupled with fractional reserve banking is the largest bubble in the world”
“And for those who think there is a massive Bitcoin bubble. The last bubble went from $0.05 to about $32 and unlike so many who are calling this a bubble I know what it felt like back then because I was there. For a comparable move the bitcoin price would need to move from about $5 to around $3,200, a 20x rise from current prices, and we are only about 5% up this ‘wall of worry’.”