This election cycle is one big free advertisement for Bitcoin in particular and Crypto in general. There are many older americans who have no idea what it is are now buying.
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With the election decided, there are huge inflows into the Bitcoin ETF’s. The Trump supporters who may not understand what Bitcoin is, are buying ETF’s. The talk to include Bitcoin into federal reserve is going to increase. All of this can easily push Bitcoin into $100K.
We are in a new day after Nov 5th. Animal spirits and what not. Dance while music is on.
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89K… but who is counting… 
$IBIT now has options… it started trading today… Heavy call volume and very little put…
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Can it keep going up from here?
Or is it like Apple and Nvidia which aren’t expected to double from here because they already have highest market cap?
My guess is as good as anyone’s. My thesis is, Bitcoin is the numero uno of crypto assets. Now we have ETF’s. ETF’s should allow asset allocators and financial consultants to allocate some %, however miniscule, to Bitcoin. This will drive demand over long-term. I don’t know where is the upper bound.
Having said that, remember the round number rule (if it can be called as a rule), typically the round number acts as a resistance, which we saw BTC rallied to 99K and then declined to $90K and now it moved above $100K, it will acts as support. Incoming administration is expected to be more Crypto friendly. But lot of folks reading it as BTC friendly and BTC should rally. I don’t see the correlation, but understand that sentiment. So I am holding (or HODL?!) my BTC, ETH ETF’s. If you are buying now, I would focus on ETH ETF’s.
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They were saying on CNBC this morning that bitcoin has become a more typical investment. Most will end up having some assets there as part of their allocation.
We have been through the age of scammers, frauds, and lots of shady ads but now the ETFs and adoption by Fidelity and Vanguard make it more legitimate.
Investments are still speculative. Like gold, no earnings and no interest. But perhaps more certainty you can get your funds out when you want them.
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My thesis is similar with a slightly different variation. The ETF’s makes it easier for retail to buy and allows financial advisors to allocate.
You will still have up’s and down’s like the past.
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This was my original thesis for buying BTC when the ETF’s were available. The retail penetration will increase, more and more platforms and RIA’s, wealth advisors are warming up to allocating 1% or 2%. And some sovereign treasury adding will also continue. Given that the supply is constrained/ capped, it will naturally drive the price up. Of course, when the stock market declines it will also decline. I suspect may like me have allocated some of their market profits in BTC ETF’s as diversification and may sell on dime.
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US will be adding $BTC, $ETH and other crypto currencies to their reserve. OTOH, US still insists every country in the world should use USD has reserve currency… Go figure.
“Their reserve”.
You crack me up.
Because US is not adding them to Federal reserve but their “crypto” reserve…
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I wonder if bitcoin is building a base here in the low 80’s. Do you know of any systems that follow how many times an investment goes to its base before it takes off one way or the other? I have been accumulating some satoshi’s while btc has hovered in the high 70’s low 80’s and was wondering if investing in bitcoin is any different than investing in a currency or gold. Thanks for any responses…doc
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This is playing out as expected. Today Bitcoin is the 5th largest asset. My allocation is 3%, one time buy and no trading in and out, timing it etc.
I know I am going to annoy but bitcoin is just buy and hold @buynholdisdead 
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I wish you all the luck in the world. Let me know how you deal with the next down turn. 
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I first bought Gold in 1995 for $400, I kept adding it over the years, because I could not buy the amount I wanted and was scared to allocate 3% at that time. I have traded some $GLD but that core holding is sitting in my vault and bank vaults. I expect Bitcoin will be a similar holding for me.
One of my stocks that I bought in 1992, just kept reinvesting dividends, I bought originally 400 shares, through splits, and reinvesting dividends, today I own 18,000 shares. Interestingly, I never traded that stock.
There are variety of approaches to investing. You chose what works for you. Some like me, not confident of their ability on any one approach, choses multiple approaches and marry them for different kind of stocks/ assets.
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Are you holding Bitcoin or one of the ETF’s that is based in Bitcoin?
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For now it is in ETF, but considered moving it to wallet. I still may.
