Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
The entire Bitcoin marketcap, in comparison, is just the money needed to absorb just a few months of the global gold mining production.
Aye. Well, if you consider eight to be 'a few'. And three years ago, Bitcoin's market cap would have absorbed 'just a few weeks of the global gold mining production.' The trend is my friend.
OTOH, the trend hates you.
It's still "weeks", if you don't bother counting up to 39
39? Remedial math much? Bitcoin has done a ten-bagger from the time I reference (i.e., three years ago - @ ~$10B). The weeks are a few from your own figures
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Every year... 146.25bn USD.
Lessee... 146.25/52 ~= 2.8B $/wk, $10B/2.8B $/wk ~= 3.5weeks. Considerably closer than eight.
Again, The trend is my friend.
OTOH, the trend hates you.
And I'm a not-yet-rehabilitated goldbug.