Bitcoin soared to yet another record high on Wednesday, a day after the virtual currency vaulted to the $50,000 hurdle, even as analysts warned against the sustainability of such prices amid elevated volatility.
The world's biggest digital currency, which has a market capitalization of over $900 billion, hit a record $51,721.15, fueled by signs that it is winning acceptance among mainstream investors and companies, such as Tesla, Mastercard and BNY Mellon.
Bitcoin was last up 3.68% at $50,990.6.
https://finance.yahoo.com/news/bitcoins-record-price-unsustainable-without-094432605.htmlTo me this was the key insight
Currently, around 78% of issued bitcoins are either lost or being held with very little intent to sell. This leaves less than 4 million bitcoins to be shared among future market entrants - including large institutional investors such as PayPal, Square, S&P 500 companies, and exchange traded funds, blockchain data provider Glassnode said.
78% of bitcoin that do not go on sale it is a LOT! The potential supply is very low if those figures are correct. We all know that at some point daddy btc will cool down a bit and to avoid troubles a small stop loss could be put in place as a small insurance cover.