Hey everyone!
Crazy week for me, heading up to my brother in law’s bachelor party now, pray for me.
Just wanted to update you quickly on why I think Bitcoin can reach $73k+ over the next few weeks…..
1) NYDIG Hinting at Massive Institutional News Drop
Remember last time, when Elon announced that Tesla bought $1.5 BILLION of Bitcoin and the price jumped like 10k in ONE DAY?
It seems more announcements like this are coming within days/weeks….
The CEO of NYDIG (who on-boards a large number of these companies into their first Bitcoin purchases..) said
"In the next week, you'll see gamechanging milestones for #bitcoin adoption in the financial landscape"
That’s huge news, obviously, and could send the price skyrocketing.
He didn’t stop there, finishing with..
"I think — I don't think, I know — starting more or less next week, you're going to see an absolute drumbeat of pretty game-changing milestones from some of these firms”
I like drumbeats….
2) SLR exemption expiring (Extending)
You probably don’t know what SLR is, that’s okay, neither did I.
“An exemption on the “supplemental leverage ratio” was put in place at the start of the coronavirus pandemic to encourage big banks to lend and support bond and short-term funding markets. The exemption, which reduced the amount of capital banks must hold against Treasurys and some deposits, is currently set to expire on March 31.”
In layman’s terms, this means that Banks were able to create even more “funny money” than they normally do, as an “exception” during Covid…
Most people don’t know this, but the money you THINK is in your bank, really isn’t there.
They lend out your money at crazy ratios, 2,3,5,10x more than they actually have on hand.
And this SLR thing allowed them to do this even MORE.
And now, it’s going to expire.
Which means, DING DING DING, you guessed it, they are going to EXTEND IT.
The markets are all just waiting for confirmation on this, because it is HUGE for asset prices.
It basically means more of what I’ve been telling you for a year now, “Money Printing” is going off the charts, in a ton of different forms, and there is no stopping it.
3) Stock to Flow is Right on Target and People Aren’t Blind….
As you can see, the model that has accurately predicted Bitcoin’s price like literal CLOCKWORK is still, you guessed it, predicting it like Clockwork.
My question is, at what point do people start to FRONT RUN this model?
The model predicts 100k-288k THIS YEAR for Bitcoin, and has been EERILY accurate so far…
In fact, the statistician responsible for the model said this the other day…
When you read stuff like that, ANY price under $288k seems cheap, particularly for the large institutional investors that are rapidly coming into the space.
4) A Beach Ball Held Underwater
Honestly, we should already be MUCH HIGHER than we are as of today (around $58,500).
Earlier this week we casually BURST through $60,000, and all the indicators were that we were going to keep on going.
But then, there was a hiccup.
A few key twitter accounts (cough cough Crypto Quant) posted some inaccurate data about coins coming onto one of the popular exchanges.
This caused the price to dump temporarily, as traders all sold in anticipation of this false data.
Without this hiccup, I honestly think we’d be pushing 65k-70k right now.
So… all we’ve done is basically held the beach ball underwater for a little bit longer, causing it to gather more energy.
Every time something like that happens, where traders sell, STRONG HANDS (people who don’t sell) scoop up the coins.
And that just ads rocket fuel to the next rise in price, because there are less coins to go around…
Anyway, I’m off to the bachelor party!
Enjoy this and share it with someone, the markets may be closed this weekend, but there is still time to grab some BTC before it rockets up another $15k or so…..
Kale
p.s. I write this letter 5x a week to subscribers and am offering a 30 day free trial so you can see if you like it, just click the blue button. Thanks!
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