Glassnode’s detailed in-depth analyses of BTC’s metrics are interesting, and it was fascinating to see their report 4 days ago that the number of BTC addresses holding $1M USD had gone ‘parabolic’ in Dec with a 150% increase to 66,500
https://twitter.com/glassnode/status/1339476314118643714?s=12 Also very interesting was CoinTelegraph’s recent report on Glassnodes CTO Rafael Schultze-Kraft saying ‘all’ of BTC’s major market indicators and metrics compared to their 2017 levels and then applying their subsequent increases in the 2017 bull run were “insanely bullish”, with all but one suggesting BTC’s price would rise well north of $200K this market cycle in the bull run that has started
https://www.google.com/amp/s/cointelegraph.com/news/insanely-bullish-glassnode-cto-predicts-btc-price-will-10x-from-here/amp !!
Many crypto and traditional financial experts are now giving similar bullish predictions as they see BTC replacing gold to a greater or lesser extent as a good investment option and a store of value and hedge against inflation with more and more public companies and rich individuals buying BTC in big amounts - Plan B’s stock to flow model predicts a price of 100-200K in 2021, Raoul Paul ex of Goldman Sachs predicts 200K in 2021; Willie Woo predicts 200-300K, Mike McGlone of Bloomberg predicts 200K, Tom Fitzpatrick of Citibank predicts 300K, Ficas Ag Swiss predicts 200-300K, Max Keiser predicts 100K, Pomp predicts 100-200K, Adam Back predicts 300K by 2025 etc.
Very bullish predictions, and I think 100K is likely in 2021 and maybe 200K is possible as more and more money chases scarcer and scarcer BTCs - but volatility will also persist I’m sure in 2021 with periods of optimism and pessimism, and funny BTC has just fallen $2K in the last 3 hrs as I wrote this bullish thread. So who thinks BTC will hit 100K in 2021, and do you agree with the Glassnode analyst and other experts it will hit 200K - and who’s brave enough to agree with the Bloomberg analyst and Willie Woo that it can hit 300K for a 14x and 1,400% increase in price in 2021?
And if BTC’s price does hit 200K+ we might well find Glassnodes data showing us one day in 2021 that there a million BTC millionaire addresses (66,500 x 15) - mind-blowing!