🦈BTC Apex Predator! Everyone FOMOing - New ATH soon🚀

InvestAnswers

28 Feb 202439:15

Summary

TLDRThe video discusses the current bitcoin market, analyzing trends like the massive inflows into bitcoin ETFs which are correlating with future price increases. It highlights bitcoin achieving all-time highs in over 25 currencies as fiat currencies weaken globally. The host stresses being patient, avoiding trying to time the market during this period, and not listening to naysayers. Overall an extremely bullish analysis of bitcoin's price trajectory leading up to the 2024 halving event, predicting over $300k per bitcoin.

Takeaways

😲 Justin Blackrock's Bitcoin ETF took in $520 million in a day, the 2nd biggest inflow ever for an ETF
😎 Bitcoin is testing all-time highs before the halving for the first time in history
💰 Bitcoin's market cap surpassed Canada and Australia's M1 money supply
🚀 Bitcoin added $800 billion in market cap since early 2023
👀 Evidence suggests Jeff Bezos may be diversifying into Bitcoin
🔒 Arc Invest integrated proof of reserves for its Bitcoin ETF
😠 Politicians like Elizabeth Warren try to limit investment choice
📈 Bitcoin ETF volumes broke records, outpacing S&P 500 and QQQ ETFs
🍌 Bitcoin is still early in the current cycle per on-chain metrics
💡 MicroStrategy hitting $1,000 per share puts it on track to join S&P 500

Q & A

What was noteworthy about the inflows into the Bitcoin ETF?
-The Bitcoin ETF received over $520 million in one day, making it the second largest inflow ever for any ETF.
How much Bitcoin do the new ETFs hold so far?
-The nine new Bitcoin ETFs hold over 312,000 bitcoin already.
What happens with the money that flows into the ETFs?
-The money that flows into the ETFs is used to purchase bitcoin the next day, due to the T+1 settlement time.
What was the impact of Coinbase having an outage?
-When Coinbase went down, bitcoin price swung violently from $64,000 down to around $58,000 in minutes.
What is the market cap milestone that Bitcoin just reached?
-Bitcoin surpassed $1.2 trillion in market capitalization.
How much has MicroStrategy stock increased recently?
-MicroStrategy stock hit $1000, up massively as it closes in on a top 500 market cap ranking.
What was the previous monthly closing high for Bitcoin?
-$61,357. Bitcoin is now above $61,500, ensuring a new monthly closing high.
Where are we on the Bitcoin 'banana' market cycle chart?
-We are still very early, just peeling back the first tip of the banana.
What are the next key Bitcoin price levels indicated?
-$71,000, just above the previous all time high, as the next target.
Why did some Bitcoin mining stocks fall sharply today?
-Investors worried miners don't have enough modern rigs for after the halving caused the sell off.