So, as my recent post was about the bull market which has since been confirmed I would like to slightly elaborate on what I think is happening in the markets now.
People who closely monitor the space, see who are the ones speaking about the crypto publicly right now, to name a few Mark Cuban, Elon Musk, Mike Novogratz, Michael Saylor, Cathie Wood, Raoul Pal I hope you notice the trend here.
What is common among these people they either are filthy rich or manage massive amounts of funds or both. These people without a doubt have a huge following and influence in social media, just take a look at their Twitter or Youtube profiles.
So here are two assumptions.
A. They have a lot of money, understand it well and invest in crypto, blazing the trail for retail investors.
B. They are well connected and have respect in the circles where the largest money managers make investment decisions.
So, since my post "Bullmarket Confirmed" two things happened, which are in chronological order 1. Bitcoin futures ETF confirmed 2. Bitcoin ATH price was breached.
This reminded me that before the approval of ETF I took a picture of the tweet by Eric Balchunas, here it is.
To sum this all up, there is an infinite amount of dollars chasing a finite amount of Bitcoin.
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