Outsmarting The Smart
Bitcoin was supposed to somehow take from the rich and give to the poor, but as we "get down the rabbit hole", to me it looks like vice versa, as coins are trading hands and usually the trade comes from the poor to the rich.
Whales have accumulated heavily during the latest dip... during the panic selling that has been caused by Evergrande FUD, which has nothing to do with crypto imo and some SEC regular FUD as well. Smart money are keeping on doing what smart money do and related to smart money I was thinking lately what will happen to Dubai when they're gonna dry all that oil up.
They'll probably buy Bitcoin, before that happens, and that's what they're actually doing. Dubai will allow Bitcoin trading within tax-exempt economic zones. You know what else I think Dubai will do?
Buy more Bitcoin than we could think of.
Bitcoin is becoming a digital gold, an asset that will get to insane dollar valuations during the digital age we're gradually entering. It would be an atrocity to have gold or oil as some of the most valuable assets in a digital age.
United Arab Emirates is famous for Dubai's wealth mostly caused by the abundance of oil these guys have over there. They still have oil, they are still filthy rich, the oil threatens to dry out... What are they gonna do? Buy dollars or stocks in Evergrande? Of course not. They are gonna buy Bitcoin and they're gonna do that massively.
You might consider me already a fanatic for throwing the super cycle theory around that often, but I believe Dubai will play a heavy role in pushing Bitcoin into a super cycle, the demand will be huge from their side and done "in a fanatic way". No intention of dissing anyone with that statement...
Most of the price predictions for Bitcoin's peak this cycle go as far as $360,000 per coin, from my observations, but what if the sheiks are gonna bet over the so called smart money and take their coins right above the supposed peak. If that happens there are probably gonna be countries and very large investment funds literally FOMOing into Bitcoin.
In order for Bitcoin to enter a super cycle, the demand has to be huge and we should expect huge mouth whales accumulating it, even at insane levels. At least I'm expecting that. I might be wrong and this cycle will probably be just another regular one, but the indicators are too obvious to ignore.
There's so much liquidity draining out of exchanges, whales are eating up most of that liquidity, the incentives of actually selling Bitcoin are not that strong anymore as you can use Bitcoin as collateral instead of dumping it on the market for cash, countries are adopting it as legal tender and we're just 2.5 years away from a halving that will reduce the miners rewards to 3.125 per mined block.
If I pay attention to such data, and I'm no one in this space, imagine what the wealthy are doing right now. Do you think the Dubai news is simply random crypto news? I bet it's not... We might come to a time when saying: under $100k BTC was a bargain. Corona pandemic has shown us that drastically shifts can occur on the planet on highly short time frames, why would a super cycle for Bitcoin be an exception.
Bitcoin and blockchain are no longer in the position to be ignored. Look at all these billionaires popping here and there saying they own some Bitcoin. They don't say how much, they only say: I own some...
There are probably plenty other factors that are not visible yet, but are boiling up this Bitcoin super cycle. Or... I'm just another fool hoping for the bull market to never end... There's always someone smarter than you, so why wouldn't ne a new class of smart money outsmarting the current ones in crypto?
You know what... I see dead jpegs and an insanely valued for Bitcoin in the years to come. I see a $10 HIVE easily achievable and an age of abundance through crypto. I see FOMO taken to the extremes and we haven't even started yet...
Thanks for attention,
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