There are a lot of BIG actors that are likely hesitating to come into bitcoin, including governments, and can you really imagine that some of the bigger wallstreet players to really be coming into bitcoin, because if they did come into bitcoin with anything higher than a 10% allocation, there is no way that they would not end up moving the BTC prices to the upside in very substantial ways. With our BTC price movements so far, we hardly see any kind of meaningful entrances into BTC, and I am not going to agree to witnessing any meaningful wallstreet entrances into BTC (in spite of what they are saying) unless we end up seeing BTC prices in the $1million territory.. perhaps in this cycle?
Otherwise if we are not seeing BTC prices in the $1 million territory, they are not likely meaningfully getting into dee cornz.. in spite of their "talking it up." And, by the way, $1million is LESS THAN a 15x price appreciation from our already existing ATH... so does not seem to be much if any kind of meaningful stretch of the imagination to consider that bitcoin should fairly easily be able to reach $1million territory in this cycle.. but I still would not give it high odds of happening, even though they are not small odds either.. maybe in the ballpark of 10%-ish to see BTC price in and around (perhaps not breaching) $1 million in this cycle.. so within the next 3 years or so?
Isn't it a bit of a chicken and egg situation ?