Bitcoin becomes a Trillion Dollar Asset at a price of $53,680

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Bitcoin may become a Trillion Dollar Asset as soon as this week

The mythical trillion dollar market value may be right around the corner.

As bitcoin climbs towards new highs yet again, we are only about $4k away from bitcoin being a trillion dollar asset.

With 18,628,876 BTC currently in circulation, when bitcoin hits $53,680 per coin, it will have a market value of $1 trillion dollars.

The significance of this is mostly just a talking point but it does have some implications as well.

For example, there are certain funds and institutions that are prohibited from investing in or trading in markets that are worth less than a certain dollar amount.

And often times that dollar threshold is, you guessed it, a trillion dollar markets...

So, this could be one of those things where the higher bitcoin goes, the more investment dollars it attracts.

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(Source: https://cointelegraph.com/news/bitcoin-goes-mainstream-as-institutions-hold-3-of-btc-s-circulating-supply)

When might it happen?

Timing is probably the most important part of investing.

Being wrong and being right but having the wrong timing, can both make for a losing investment.

My guess, based on the current price action is that we see this trillion dollar market cap within the next couple weeks.

We have mostly been consolidating ever since the big move up after the Tesla news.

Eventually we are going to break out from the consolidation and my guess is that breakout will be to the upside.

With new stimulus expected to happen by March, the timing of the bitcoin breakout may coincide with the new stimulus coming out.

Which, as I mentioned above, lines up pretty good for happening within the next couple weeks.

When we do breakout, I suspect we are going to around $60k before we see another sizable correction.

Past patterns point to a 30% correction happening after we get at least a 100% move up from the recent lows ($29k), which points to $58k or higher.

I suspect we are going to have a trillion dollar asset within the next couple weeks and the next local high happening within the next month or two.

Stay informed my friends.

-Doc

Posted Using LeoFinance Beta

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16 comments
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@jrcornel This might happen even soon, especially one more tweet from Elon musk about Bitcoin is enough.

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Haha, yep, that would probably do it!

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Yahh for sure, as his recent action made btc go up ~$6k with in s hour.

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Buffett used to say that Bitcoin was rat poison ... now bitcoin is worth more than Berkshire Hathaway

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It is rat poison, it's going to kill gold.

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Congratulations @jrcornel! You have completed the following achievement on the Hive blockchain and have been rewarded with new badge(s) :

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(Edited)

It may be a trillion dollar asset, but that doesn’t mean I’m not still taking it don don don to the seafloor so I can get outta upvoting your posts forever! 😂 Whuhahjahajajaja! damp eeeet!

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Haha, I quite like the forever upvotes!

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Oh wow, that is a really good point about that threshold. I didn't realize that some places can't invest if the market cap is less than $1 Trillion. That could mean really huge things for BTC if it can finally get over that hump. If I had to guess, we will probably be there by the end of the month for sure. Fingers crossed.

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My guess is that it might only impact a few players, but every little bit helps.

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