Hi, what would be your comment on the following report from these people who were right more frequently than not:
Thank you for this article which may be of interest to the Collective. Here is a section:
For every million new users, the price of bitcoin rises $200. It happened every time except for February 2016, when the price was slow to hit.
The rise in the price has been amazingly constant. I’ll leave it to some future Avogadro to figure out exactly why. The important point is: If this relationship holds, bitcoin will hit $200,000 in 2022.
I realize that sounds like a large caveat – but these relationships have held for a decade. The compound annual growth rate (CAGR) of bitcoin has been 213% for more than ten years. $200,000 a year from now would be exactly 213% higher than today. It would be just normal trend growth.
The best time to buy bitcoin is around a year before the halving of the reward for mining (halvening). The last one was almost a year ago and the next will be in about three years. After the halving of the reward, the limited supply argument is burnished because it becomes twice as expensive to mine new coins so the need for additional resources increases while the value of coins already in existence inflates. That’s exactly what we have seen after every other halving and there is no reason to believe that will not persist.Click HERE to subscribe to Fuller Treacy Money Back to top