Today’s Nuggets
The Urgency of Bitcoin Halving
BlackRock's Bitcoin ETF Success
ETF Inflows Predicting Bitcoin Price Increases
The mysterious "Mr. 100" Accelerates Buys
Bitcoin's Market Cap Achievements
Jeff Bezos's Cryptocurrency Investment???
MicroStrategy's Market Cap Milestone
Bitcoin's Price Volatility and Predictive Modeling
IA Top and Bottom Indicator
We are living in an exciting and serious time for your money. Do not listen to fools, place confidence in the tools.
There’s only a small amount of time left before the halving and we have seen how things move so fast in this space.
I stated on DCA Live this past Monday that it looks like we might hit an all-time high before the halving. Bitcoin is nearly testing all time highs before the halving as the money flowing in is out of control. ATH before halving seems like a lock!
Unfortunately, according to Google Trends Data, a significant segment of the U.S. population remains unaware of the ongoing Bitcoin revolution. This indicates that awareness about Bitcoin's potential as a financial safe haven is still limited among the masses.
BlackRock's Bitcoin ETF (IBIT) took in another $520 million yesterday. This was the largest inflow for a BTC ETF and the second largest of any ETFs. IBIT now has $8 billion in assets and is in the top 5% among all ETFs. This fund has far surpassed my expectations, and I was very bullish.
This chart summarizes the relationship between the U.S. spot Bitcoin ETFs and Bitcoin price action. And it is different from what you expect: 'The bigger the inflow today, the bigger the price increase TOMORROW!' You can see the correlation of 0.4692 supports this statement. T+1 for ETFs means that what you see today happens tomorrow.
I was off by two days and $2,000 lower than expectations. The point is that the math works, and we come to profitable conclusions by analyzing the data.
It is not just the ETFs that are buying. “Mr. 100” has been buying 100 Bitcoin thrice a day, but this wallet bought 700 BTC in a day (7/9ths of the daily supply). This is probably a Sovereign Wealth Fund.
This is exactly the bitcoin game theory I am talking about and it's probably a sovereign wealth fund that is buying up as much as they can without rattling the market and they are not doing it OTC because they don't want people on the inside to know.
We are only 32 days into this dynamic. Let that sink in.
Bitcoin's market cap has quickly surpassed the M1 now of Canada and Australia. These are exciting times, with the "magic internet money" now entering the top 10 of worldwide M1.
Yet another new ATH falls. Bitcoin is now at an all-time high in terms of the Vietnamese Dong.
There is a black hole that is sucking in all of the fiat. Meanwhile, the vast majority of people are completely oblivious to what is happening. Our job is to help them.
I covered this story about ten days ago when it was rumored that Jeff Bezos was planning to sell a significant portion of his Amazon stock. The rumor is that he split his book as follows:
$1B self-custody Bitcoin
$3B into the BlackRock BTC ETF
$100M into robots with a startup company Figure AI
Jeff Bezos has been spotted with Michael Saylor on his half-a-billion-dollar super yacht. Guess what they are talking about? BITCOIN!!!!!
Cathy Wood's ARK BTC ETF has implemented proof of reserves so investors can verify exactly what is in the fund. And we like truth and trust in our investment community.
GBP is the symbol for the British pound, and James Van Straten is referring to them as GBPesos. As this is happening, one of the biggest UK financial service companies, St. James's Place, is imploding.
Bitcoin's price has now surpassed the all-time high monthly close. A new record could be set for the close of February.
And Breaking News - Brand new Monthly Close Record - up 44% in Feb - nearly $19,000! Insane.
At least 25-30 currencies have already been smoked by Bitcoin this cycle. The all-time highs are coming fast and furious.
Bitcoin did reach $64,000 briefly, and then Coinbase broke.
In two minutes, I watched Bitcoin on the 30-second chart move from $64,000 to approximately $58,000. These industry events and price movements in crypto mess up many people. The market makers also use it to liquidate longs.
This was a shock to the heart of security.
Volume translates directly to buying. I have been analyzing this for 32 days and built a predictive model that does it for me.
We are at 60 million in VOL today, and I have never seen more than 42 million volume for IBIT. This price action is triggering global FOMO for those who are watching the markets.
The black line represents hedge funds buying shorts. The funds are shorting Bitcoin like crazy. Whoever is placing these trades does not understand how markets work.
There were more individual trades yesterday in the Bitcoin ETFs than in the SPY or QQQ. And this is before they have options and/or are available on many advisory platforms. Given the size of trades, this marks a significant shift towards retail FOMO.
The total asset center management in the S&P 500 ETF just from BlackRock is $443 billion. IBIT only has $6B in assets under management.
The S&P 500 is up 6%, and anyone who bought IBIT is up 23%, translating into two years of returns versus traditional markets.
Bitcoin added $800 billion in market cap since January 1, 2023. The market cap was just $320B at the start of last year and has since hit $1.2 Trillion, becoming the 10th largest asset on earth.
Be careful about whom you receive investment advice from. During this season, remove all toxicity and negativity from your world. You will be far better off. THIS IS INVESTMENT ADVICE!
Peter's scrambling to justify why gold's lost its luster, but let's face it - Bitcoin has taken over as the undisputed digital gold. Amid his illusions, Peter claims that when gold finally rallies, the cash will flow from Bitcoin ETFs into gold stocks. Pure fantasy! The Bitcoin pouring into ETFs? It's there to stay.
The era of traditional gold? Over. It's been outshined by its digital successor.
Peter is an old Gold Shill… and he is not alone. The world is full of shillers. Avoid them all.
Elizabeth Warren represents "lawmakers" who do not understand the law. This is yet another reminder - seek truth, watch for liars.
Here is my new liar technical indicator - joking. Remember that the politicians are not on your side even though you pay for them and they are supposed to represent you. Corruption is everywhere.
This image was sent to me by a community member at 8:17 am. Literally, I have to keep adjusting my charts so they can fit the candles in, which is a good representation of what we were experiencing this week.
We are only 10% away from the new all-time high. Bitcoin nearly did a $14,000 move from top to bottom in 48 hours. Remember, risk happens fast, and this thing moves.
Mohamed El-Erian is a very good macroeconomist. When people like this start talking about Bitcoin, it gets my attention. This is a clear indicator that the Bitcoin moment has arrived. El-Erain now puts this asset on the radar of people who would have never considered it.
MicroStrategy hit crossed over a thousand dollars per share today. Big rumors are starting because the company is now ranked number 471 in terms of market cap. The company's market cap is now nearly $15B; therefore, the S&P 500 has to welcome in MicroStrategy. If and when this occurs, it will force everyone on the planet who owns anything to do with the S&P 500 to indirectly own MicroStrategy shares, which will be part of that self-fulfilling prophecy I have been talking about for 3 years now.
Day 32 Bitcoin ETF Update:
Massive dumpage from GBTC.
BlackRock is taking in five to six times the volume of GBTC selling.
BlackRock is leading the way, and sometimes, it takes the other ETFs time to follow with their inflows.
The cumulative money flow is the red line that continues going up. The new ETFs already have 312,000 Bitcoins and are growing fast.
As the Bitcoin price continues to rise, the ETFs are spending more money but getting fewer Bitcoins because the price has increased by 20-30%. It was much easier to pull 13,496 from the system when the price was at $40,000, but it is a different kettle of fish right now!
Bitcoin has never had a monthly close as high as where we are now. This indicates a likely probability that a new all-time high in Bitcoin could be reached before the halving.
We are not even close to topping on the MVRV. We are still in the early days. These are not times to dabble or to be extra smart in your trades. Get on the train, strap in, and sit patiently. If you try to get cutesy with the market, it will hand your butt to you.
Simply being in the market for the best 10 days, then you made 201%. If you were not in the market for those 10 days, you made minus 86%. By not being in the market for 10 days, you lost 91%, and if you are in the market for the other 355 days, you (yes, you guessed it…) get your butt handed to you.
The yellow in the charts indicates the trend direction that resembles a banana. Currently, we are in a banana cycle that takes us north of $300,000 and we have only just begun!
This chart demonstrates that we are now back at the level that we were in 2021, give or take. Remember, it takes patience to be in this market.
This is our Layer In Layer Out model, with all the key levels based on history and a whole bunch of other formulas to calculate exactly where this asset could go. Right now, the level 10 target is at $140,109, and we are headed to level 7, which is at $71,000, just above the all-time highs. We could hit level 7 very shortly.
The IA Bitcoin Top & Bottom Indicator displays when Bitcoin is hot or cold. When the line is in blue or light blue, you should buy all you can. When it enters the lime and yellow sections, you can still buy, of course, but this typically indicates that the latecomers are entering the market. However, just like the MVRV, we are still early, everybody!