Yes, the fun is just beginning. And it's a good thing too. I don't think people have a full realization of just how MUCH new bitcoin is flowing into circulation every single day. I mean, there are 6300 new bitcoin minted every single week. At $50k, that's $315 Million dollars of bitcoin that could potentially be sold into the market every week. And that's without anyone else selling a thing. So, while these big new investors coming in are very bullish, they are also necessary just to maintain the price. Of course, not all of those 6300 coins are being sold. The miners are certainly hoarding some of them for higher prices. Or striking deals behind the scenes to sell them peer to peer to new investors, possibly at a premium. But, it still shows that there needs to be an awful lot of new money flowing in to keep the prices rising. And at any given moment, a large chunk of that could pound into the market and down we go. That said, there's another halving 3 years away, and another after that. The supply is getting smaller and smaller so if you want a piece, better start stacking those sats now....
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Yep, the fact that the supply on Exchanges is dropping so much while 900 new bitcoin are coming out every day shows how much is actually being sucked off Exchanges. A ton...
BTW, you sparked an idea for a post I plan to do later on bitcoin demand vs new supply. Thanks for spark! :)