IMO we are at a point where we have a lot of high net worth, major corps, and invesent funds investing in Bitcoin. The days of huge swings, massive outbreaks, and downward spirals are over. I think we will see peaks and valleys in the range of 2-3% possibly at a faster pace than traditional stocks rise and fall but like I said to many major players now have too much to lose not to control the price. Not only that but if more retailers are to enter the "accepting" bitcoin game then the price has to show signs of long term stability and I think that's what we are seeing here. Long term investment growth, price stability for retailers to enter bitcoin, wider acceptance by the general public who don't have the knowledge or skills to enter a highly volatile market.
That's just my guess, he'll we could be at $1,000 on Monday. Who the hell knows.
A lot of high net worth, major corps and investment funds are investing into a 8 Billion capsize, very little of which is for sale ?
Such entities investing in bitcoin in a conservative manner would bring the price at least 100 times higher.
Such entities investing in bitcoin aggressively would bring the price about 1000 times higher.
These entities still have not touched bitcoin with a pole stick.
I think you're absolutely wrong. Many high net worth individuals have come out to say they own bitcoin. We also have funds like second market, and more in the works. These people do not nor would they buy bitcoins on any of the exchanges that exist today. They would again IMO go to the major holders of today's Bitcoin and secure OTC purchases. They might even go to the major mining pools and buy direct. It wouldn't surprise me if a mining pool has already secured contracts to sell so many bitcoins at a set price over a period of mining to some key players. Everyone has an eye and a toe dipped into bitcoin, it's to risky not to, and when the time is right we will see what they want to do with it. One thing I can promise is you and I have no control, all we can do is sit back and enjoy whatever ride we are on.
Many like 1 out of 1000 ?
The combined wealth of all HNWI in the world is 50 trillions USD (without their primary residence). If only 1% of these people would put only 10% of their wealth (without home) in BTC, the market cap would already be 50 billions.
That's only 1% of them and only 10% of their wealth without home.
And that's without talking about any other entity.
And that's assuming that all early adopters sell them their coins.
A few HNWI claiming they bought bitcoins in the media is not representative of what is happening. I maintain that HNWI still didn't touch bitcoin (0.1% could not be considered meaningful).
I agree, and I disagree.
Practically, what matters for
us, is the market price. The 'big players' haven't touched Bitcoin yet in any way that affects that market price.
I do consider it possible (though not necessary likely) that off exchange, accumulation of those entities has progressed much further. But since I know of no way of saying that this is happening with certainty, and more importantly: since the public market as a whole has no way of determining it, it won't affect price, and (by my first point), doesn't matter to us.
