BitShares Forum
Main => General Discussion => Topic started by: Ander on November 12, 2014, 06:02:19 pm
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Soon: Counterparty #2 crypto, bitcoin to the moon before we even manage to get the marketing campaign off the ground?
I shouldve stayed a bitcoin cultist. :P
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Heh, it went up $8 while I typed htis post, and down $15 a minute later.
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This is all true but I'm not so worried about the Bitcoin price. The price is probably going up because law enforcement just confiscated a bunch of coins again which probably were going to be dumped.
In a way law enforcement confiscation seems correlated with price increases.
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Soon: Counterparty #2 crypto, bitcoin to the moon before we even manage to get the marketing campaign off the ground?
I shouldve stayed a bitcoin cultist. :P
BTS is rising as well.
The 1-day and 12-hour charts suggest that BTC is about to break out of the year-long downtrend:
https://www.dropbox.com/s/easu6iafasn0stc/Screenshot%202014-11-12%2008.03.32.png?dl=0
If confirmed, you should expect to see quite a lot of new money flowing into bitcoin and all the major 2.0 currencies.
This could be a sea change, guys. Hang on.
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This is all true but I'm not so worried about the Bitcoin price. The price is probably going up because law enforcement just confiscated a bunch of coins again which probably were going to be dumped.
In a way law enforcement confiscation seems correlated with price increases.
That was possibly one trigger, but I think the bear market ended in october and it is starting to rise once again.
The question is: can we keep up? Bitcoin could hit new all time highs by the end of the year.
This is an opportunity, it means moeny will flow into crypto. We either capture a good part of it with our marketing campaign, or we fall.
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Soon: Counterparty #2 crypto, bitcoin to the moon before we even manage to get the marketing campaign off the ground?
I shouldve stayed a bitcoin cultist. :P
BTS is rising as well.
The 1-day and 12-hour charts suggest that BTC is about to break out of the year-long downtrend:
https://www.dropbox.com/s/easu6iafasn0stc/Screenshot%202014-11-12%2008.03.32.png?dl=0
If confirmed, you should expect to see quite a lot of new money flowing into bitcoin and all the major 2.0 currencies.
This could be a sea change, guys. Hang on.
My theory is it had to do with the massive Silk Road 2 confiscations. When coins are taken out of circulation suddenly like that then the price can only go up in response. Maybe now is a good time to try BitBTC.
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This is all true but I'm not so worried about the Bitcoin price. The price is probably going up because law enforcement just confiscated a bunch of coins again which probably were going to be dumped.
In a way law enforcement confiscation seems correlated with price increases.
That was possibly one trigger, but I think the bear market ended in october and it is starting to rise once again.
The question is: can we keep up? Bitcoin could hit new all time highs by the end of the year.
This is an opportunity, it means moeny will flow into crypto. We either capture a good part of it with our marketing campaign, or we fall.
Wishful thinking to believe our timing can be so good. If Bitcoin were to hit $5000 and all sorts of money were to flow in then that means billions could reach the Bitshares ecosystem. I don't think you realize how much money that would be and I'm not sure the Bitshares community is ready for a flood of money.
The softare might not be ready either.
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Wishful thinking to believe our timing can be so good.
The softare might not be ready either.
Actually I was saying that our timing isnt good, because this is happening and we arent ready yet. We are still recovering from the disastrous october.
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Wishful thinking to believe our timing can be so good.
The softare might not be ready either.
Actually I was saying that our timing isnt good, because this is happening and we arent ready yet. We are still recovering from the disastrous october.
October was not a disaster. The software has been improving the whole time and it's still the same rank on coinmarketcap.
I would say if Bitcoin goes back to $1000 it doesn't mean it is because new money is flowing it. It is probably just because of confiscation. However if the price passes the all time high the media attention will likely drive new money into it.
Bitshares will get plenty of free attention by being so high on coinmarket cap and because it has novel futures. Counterparty is probably the biggest threat at this point to surpass Bitshares in market cap while Litecoin is likely at it's peak and will fall.
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October was not a disaster. The software has been improving the whole time and it's still the same rank on coinmarketcap.
I agree with you. Peopel on this forum who understand what is going on agree.
But to everyone outside, bitshares is a mess now.
That is what we need to fix, quickly, with a marketing campaign to promote a clear message and re-explain to everyone what is going on with bitshares. :)
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I expected this.. now it is to be seen how bitshares reacts.. so far its been bad... bitshares losing ground to bitcoin.. now the real test is when bitcoin ranges or falls does bitshares recover? We need to see bitshares OUTPERFORM bitcoin at these low risk:reward areas of bitshares... because if it doesn't to me, my bull targets may not be met in my expected timeline. I expect bitshares to rise when bitcoin settles, but how much is to be seen.
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Counterparty just doubled in value and took over 5th spot. What the lump?
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October was not a disaster. The software has been improving the whole time and it's still the same rank on coinmarketcap.
I agree with you. Peopel on this forum who understand what is going on agree.
But to everyone outside, bitshares is a mess now.
That is what we need to fix, quickly, with a marketing campaign to promote a clear message and re-explain to everyone what is going on with bitshares. :)
In my opinion, the "disaster" pronouncement was incorrect. October was a good month for BitShares; there just wasn't a lot of demand due to this merger. People on the outside have seen the price stagnate and fall a bit, but stabilize. They have no idea, nor do they care, about internal squabbles and allocations. As soon as the user-friendly features and marketing campaign are ready, it will take mere days to reach and surpass where we were before.
Also, don't underestimate the effect of the PeerTracks fundraiser on the BTS price. BitShares Music's fundraiser started on October 6, has raised almost 1000 BTC in just over one month so far, and ends December 5th. Good for them; I have donated and am thrilled at the prospects.
Now considering that this was a period where the BitShares community knew there would be a bit of a lull in BTS(X) anyway, until the user-friendly features and marketing campaign come online, don't you think it's likely a fair number of folks 'invested' spare cash in the Music fundraiser instead? If you injected 1000 BTC into the BTS market cap, that wouldn't magically send it too much higher, but just imagine 1000 BTC worth of buying activity on these exchanges in just over a month and what effect that would have on sellers, market movements, and psychology. The volumes on these exchanges are still quite low overall and amenable to leveraging.
Just watch what happens on December 6th. :)
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If this is a real rally, it will last for awhile. I don't care whether it's in progress or just ending when BitShares is ready for prime time. Because after these rallies end, people are still under the influence of the narcotic, and they start looking for the next big thing.
BitShares IS the next big thing.
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Now considering that this was a period where the BitShares community knew there would be a bit of a lull in BTS(X) anyway, until the user-friendly features and marketing campaign come online, don't you think it's likely a fair number of folks 'invested' spare cash in the Music fundraiser instead? If you injected 1000 BTC into the BTS market cap, that wouldn't magically send it too much higher, but just imagine 1000 BTC worth of buying activity on these exchanges in just over a month and what effect that would have on sellers, market movements, and psychology. The volumes on these exchanges are still quite low overall and amenable to leveraging.
Just watch what happens on December 6th. :)
Excellent observations as usual. I fully agree that MUSIC is eating some of BTS' lunch. Of course most of us have a healthy stake in MUSIC as well so there's really no downside here :) .
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What is supposed to happen on December 6?
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DanV is a technical analysis bitcoin trader who predicted the crash from $680 to $270 and he thinks bitcoin will rise to upper $400s before crashing back to $200s, and then a big rally to $1000, then huge crash.
https://www.tradingview.com/v/ovIEXIIE/
Bitshares time to shine is in a few months from now when all the light clients, mobile wallets stuff is ready so the marketing can be maximally effective.
It would be nice if bitshares can launch all this before a big bitcoin rally to $1000, time is of the essense.
I doubt bitcoin will just have a huge rally without something big happening like an ETF or full paypal integration or amazing acceptance or something of that magnitude.
This little rally could be caused by the speculation that the Winklevos ETF may launch on Nov 14th to match up with a gold ETF that happened on that date in the past.
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What is supposed to happen on December 6?
Day after MUSIC pre-sale ends.
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BitShares IS the next big thing.
Only if we are fast. Otherwise something else (Counterparty?) is the next big thing.
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DanV is a technical analysis bitcoin trader who predicted the crash from $680 to $270 and he thinks bitcoin will rise to upper $400s before crashing back to $200s, and then a big rally to $1000, then huge crash.
https://www.tradingview.com/v/ovIEXIIE/
Any elliot wave chartist who had a bitcoin count that said this was a wave 4 and we are headed to new lows afterwards should have changed their count today, imo. The move today had too much momentum behind it.
If that count was to be correct, we shouldve seen a slow rally to 480 over weeks, like the may-june rally. Today the rise moved too fast. This is the action of a new bull market, not a correction, imo.
(Unless of course I am wrong. Prior to today I thought we wer probably going to head down in a wave 5 back into the upper 200s but I felt we would make a double bottom or slightly higher low. With the move today I think it all changed and that count is out the window).
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DanV is a technical analysis bitcoin trader who predicted the crash from $680 to $270 and he thinks bitcoin will rise to upper $400s before crashing back to $200s, and then a big rally to $1000, then huge crash.
https://www.tradingview.com/v/ovIEXIIE/
Any elliot wave chartist who had a bitcoin count that said this was a wave 4 and we are headed to new lows afterwards should have changed their count today, imo. The move today had too much momentum behind it.
If that count was to be correct, we shouldve seen a slow rally to 480 over weeks, like the may-june rally. Today the rise moved too fast. This is the action of a new bull market, not a correction, imo.
(Unless of course I am wrong. Prior to today I thought we wer probably going to head down in a wave 5 back into the upper 200s but I felt we would make a double bottom or slightly higher low. With the move today I think it all changed and that count is out the window).
We haven't had a wave V yet. But yea maybe... the seloff in alts seems the same as when it hit $1200.. bts taking a beating.
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We haven't had a wave V yet. But yea maybe... the seloff in alts seems the same as when it hit $1200.. bts taking a beating.
(https://ip.bitcointalk.org/?u=https%3A%2F%2Fwww.tradingview.com%2Fx%2FqVtwZDHM%2F&t=546&c=nbyfSdOkuTbGmA)
Truncated wave 5 after a blowout wave 3, that was the end of the bear market.
I didnt make this count, chessnut on the bitcointalk forum did, but I now believe it after the price action today. I do not think we will return to sub 300 bitcoin. Ever.
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Is there anyone doing Glenn Neely type wave analysis for Bitcoin ?
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It's because Etherium was "ported" to Counterparty.
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We haven't had a wave V yet. But yea maybe... the seloff in alts seems the same as when it hit $1200.. bts taking a beating.
(https://ip.bitcointalk.org/?u=https%3A%2F%2Fwww.tradingview.com%2Fx%2FqVtwZDHM%2F&t=546&c=nbyfSdOkuTbGmA)
Truncated wave 5 after a blowout wave 3, that was the end of the bear market.
I didnt make this count, chessnut on the bitcointalk forum did, but I now believe it after the price action today. I do not think we will return to sub 300 bitcoin. Ever.
Chessnut has said repeatedly that 3000cny is the med target and then wave V should come after that...
LTC didn't hit target either... $2.xx so I think we will revisit once more.
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Chessnut has said repeatedly that 3000cny is the med target and then wave V should come after that...
Until he changed his primary count today due to this price action.
I'm not an elliot wave expert or anything, I'm just following chessnut because he seems very good. If he now says that 275 was the bottom, I now believe 275 was the bottom.
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It's because Etherium was "ported" to Counterparty.
https://bitsharestalk.org/index.php?topic=11291.0
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Bitcoin has about 3000BTC/day selling pressure from mining, so it's a matter of time when it takes over the flow of new money willing to buy. At $400 BTC needs about $1.2M per day of new money just to maintain the price (and "per day" includes all weekends and holidays around the globe!) Is there a really stable organic fiat inflow into bitcoin of this magnitude? I highly doubt. Wait a few weeks and the downtrend will resume.
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At $400 BTC needs about $1.2M per day of new money just to maintain the price (and "per day" includes all weekends and holidays around the globe!)
Yes, thats why its been in a downtrend for 12 months.
Is there a really stable organic fiat inflow into bitcoin of this magnitude? I highly doubt. Wait a few weeks and the downtrend will resume.
I believe there is (at this 400 level). Things have turned and they are now going to hype it up into a new bubble. The massive money inflow will be able to absorb the mining coins for a while.
Of course, after that occurs and the price is a lot higher, as soon as the incoming money dries up the mining coins will keep coming, and it will cause another bear market.
This is just the nature of the bitcoin cycle.
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Bitcoin has about 3000BTC/day selling pressure from mining, so it's a matter of time when it takes over the flow of new money willing to buy. At $400 BTC needs about $1.2M per day of new money just to maintain the price (and "per day" includes all weekends and holidays around the globe!) Is there a really stable organic fiat inflow into bitcoin of this magnitude? I highly doubt. Wait a few weeks and the downtrend will resume.
Not everyone sells... in general aslong as volume is atleast $12M price is sustainable at that price. That is my general rule of thumb.
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Chessnut has said repeatedly that 3000cny is the med target and then wave V should come after that...
Until he changed his primary count today due to this price action.
I'm not an elliot wave expert or anything, I'm just following chessnut because he seems very good. If he now says that 275 was the bottom, I now believe 275 was the bottom.
Oh.. I don't believe that he should because he's been on it for months... so funny he would change it based on an impulse.. but I agree he is good so if he says it... it must have merit... but I personally think we will be back anyway... gluck
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Is there a really stable organic fiat inflow into bitcoin of this magnitude? I highly doubt. Wait a few weeks and the downtrend will resume.
I believe there is (at this 400 level). Things have turned and they are now going to hype it up into a new bubble. The massive money inflow will be able to absorb the mining coins for a while.
Yes, but by "stable organic" I didn't mean coming from speculation. My wild guess is that the current inflow comes from Russia as it was discussed here
http://finance.yahoo.com/tumblr/blog-rouble-collpase-could-fuel-next-bitcion-run-153153403.html
Ones they have moved their bitcoins overseas, they will want to sell it for dollars. And if it happens together with a new downtrend beginning, they will want their dollars very fast ;)
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Bitcoin has about 3000BTC/day selling pressure from mining, so it's a matter of time when it takes over the flow of new money willing to buy. At $400 BTC needs about $1.2M per day of new money just to maintain the price (and "per day" includes all weekends and holidays around the globe!) Is there a really stable organic fiat inflow into bitcoin of this magnitude? I highly doubt. Wait a few weeks and the downtrend will resume.
Not everyone sells... in general aslong as volume is atleast $12M price is sustainable at that price. That is my general rule of thumb.
Not everyone sells on the same day as they mined them, that's true. But those who "hodl" are still potential sellers and are prone to panic if the price moves down fast.
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My guess is that hedge fund money is accumulating and positioning for a drive to $10k/BTC once the ETFs are live.
You will see the log charts all over the media guaranteeing $10k per coin based on previous bubbles.
Retail investors will throw a few bucks into the ETFs and it will become a self-fulfilling prophecy.
Next leg up to $100k will be retail + institutional + sovereign wealth trying to jump on the train, say 2-3 years.
By then BTS will be mature, investors will have gotten a taste of crypto-riches and the moon rocket will launch.
5 years BTC could be $100k and BTS could be $100.
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My guess is that hedge fund money is accumulating and positioning for a drive to $10k/BTC once the ETFs are live.
You will see the log charts all over the media guaranteeing $10k per coin based on previous bubbles.
Retail investors will throw a few bucks into the ETFs and it will become a self-fulfilling prophecy.
Next leg up to $100k will be retail + institutional + sovereign wealth trying to jump on the train, say 2-3 years.
By then BTS will be mature, investors will have gotten a taste of crypto-riches and the moon rocket will launch.
5 years BTC could be $100k and BTS could be $100.
That's too good to be true ;)
Historically, all financial bubbles didn't live for longer than a few years. Bitcoin doesn't have enough utility to justify such valuations, it's basically a ZX Spectrum computer in a growing PC market. If the price goes high enough, it will be easier for speculators to profit from shorting than from pumping it further. Actually, I do want BTC to go to ATH again, it would indeed spread the "taste of crypto-riches" and helped other crypto projects, including Bitshares. I just don't see it happening...
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Bitcoin heading up once again, and this time BTSX looks like it might be moving up with it. Lets hope.
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My guess is that hedge fund money is accumulating and positioning for a drive to $10k/BTC once the ETFs are live.
You will see the log charts all over the media guaranteeing $10k per coin based on previous bubbles.
Retail investors will throw a few bucks into the ETFs and it will become a self-fulfilling prophecy.
Next leg up to $100k will be retail + institutional + sovereign wealth trying to jump on the train, say 2-3 years.
By then BTS will be mature, investors will have gotten a taste of crypto-riches and the moon rocket will launch.
5 years BTC could be $100k and BTS could be $100.
That's too good to be true ;)
Historically, all financial bubbles didn't live for longer than a few years. Bitcoin doesn't have enough utility to justify such valuations, it's basically a ZX Spectrum computer in a growing PC market. If the price goes high enough, it will be easier for speculators to profit from shorting than from pumping it further. Actually, I do want BTC to go to ATH again, it would indeed spread the "taste of crypto-riches" and helped other crypto projects, including Bitshares. I just don't see it happening...
BTC has brand recognition, network effect and momentum.
You are absolutely correct on the utility aspect, but its good enough to move value around the globe quickly, cheaply and reliably.
DPOS/BTS is superior in every way, but PoW will die a slow death.
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My guess is that hedge fund money is accumulating and positioning for a drive to $10k/BTC once the ETFs are live.
You will see the log charts all over the media guaranteeing $10k per coin based on previous bubbles.
Retail investors will throw a few bucks into the ETFs and it will become a self-fulfilling prophecy.
Next leg up to $100k will be retail + institutional + sovereign wealth trying to jump on the train, say 2-3 years.
By then BTS will be mature, investors will have gotten a taste of crypto-riches and the moon rocket will launch.
5 years BTC could be $100k and BTS could be $100.
My chart is telling me your numbers are at crack smoking levels 8)
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try to keep some btc. not sure how high it will go this time
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BitShares IS the next big thing.
Only if we are fast. Otherwise something else (Counterparty?) is the next big thing.
You're really buying way too much into the counterparty hype.
Slow and steady wins the race. At the end of the day, the technology, economics, and user experience of bitshares are far superior to those of the other platforms.
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I expect a big buyer to step into bts any moment..
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I expect a big buyer to step into bts any moment..
I hope so! :)
Someone needs to eat the 1.3 million sell wall at .128 CNY.
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I expected this.. now it is to be seen how bitshares reacts.. so far its been bad... bitshares losing ground to bitcoin.. now the real test is when bitcoin ranges or falls does bitshares recover? We need to see bitshares OUTPERFORM bitcoin at these low risk:reward areas of bitshares... because if it doesn't to me, my bull targets may not be met in my expected timeline. I expect bitshares to rise when bitcoin settles, but how much is to be seen.
Relax. Bitcoin is a rising tide that will lift all 2.0 boats in the long term. Give it time. The rerise of Bitcoin is healthy for the entire crypto industry.
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I expected this.. now it is to be seen how bitshares reacts.. so far its been bad... bitshares losing ground to bitcoin.. now the real test is when bitcoin ranges or falls does bitshares recover? We need to see bitshares OUTPERFORM bitcoin at these low risk:reward areas of bitshares... because if it doesn't to me, my bull targets may not be met in my expected timeline. I expect bitshares to rise when bitcoin settles, but how much is to be seen.
Relax. Bitcoin is a rising tide that will lift all 2.0 boats in the long term. Give it time. The rerise of Bitcoin is healthy for the entire crypto industry.
Heard it before hard not to agree but if bitshares outperforms now then its time for new highs
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Its looking like it might break out.
The wall is already down to 800k.
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WALL IS DOWN!
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WALL IS DOWN!
Niiiiiiiiiiice
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THIS IS GENTLEMEN!!!
(http://s1.postimg.org/68izhwt73/btsx.png)
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WALL IS DOWN!
Niiiiiiiiiiice
BOOM!!!!!
BIG WHALE ate around 960k in one shot~
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Yup next res is around 1650 to 1700
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I expect a big buyer to step into bts any moment..
I hope so! :)
Someone needs to eat the 1.3 million sell wall at .128 CNY.
Prophetic ;) lady luck on our side heh now get me my 0.45 cny target #1
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8)
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Bitcoin also looks on the verge of breaking upward again.
This time with our resistance gone, we could go right up with it.
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Only problem is bts btc is not climbing... Its severly oversold.. I wanted it to be around 8k satoshi or so.. Putting us around 0.22-0.25 cny
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Only problem is bts btc is not climbing... Its severly oversold.. I wanted it to be around 8k satoshi or so.. Putting us around 0.22-0.25 cny
Not yet, still could happen though.
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This is good news, the rise of bitcoin also follow the rise of all active crypto coins.
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And now we have an 800k BUY wall at .133!!
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So much for all the excitement about walls. Its back to 0.123 CNY
Should've held onto some BTC to buy now. I started buying around 7.3k sats (ouch!)
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My guess is that hedge fund money is accumulating and positioning for a drive to $10k/BTC once the ETFs are live.
You will see the log charts all over the media guaranteeing $10k per coin based on previous bubbles.
Retail investors will throw a few bucks into the ETFs and it will become a self-fulfilling prophecy.
Next leg up to $100k will be retail + institutional + sovereign wealth trying to jump on the train, say 2-3 years.
By then BTS will be mature, investors will have gotten a taste of crypto-riches and the moon rocket will launch.
5 years BTC could be $100k and BTS could be $100.
My chart is telling me your numbers are at crack smoking levels 8)
Ha! Will be fun to look back on this in a few years.
But consider...
Total global wealth is about $220 trillion USD.
Assuming 2.5 billion BTS outstanding $100/BTS would require about 0.1% of global wealth migrating into Bitshares.
This is entirely possible and plausible.
Now also consider that a $250 billion market cap absolutely does not require $250 billion of capital to migrate directly.
The actual amount of capital migrated will be much less due to supply-side shortage caused by the early adopters on this forum (hodl!).
Nowhere near $5 billion in capital has migrated into BTC; I would be astonished if total fiat migration was >$100 million at this point.
$400/BTS or $1T cap for BTS would only require 0.45% of global wealth to migrate...
I know these huge numbers seem batshit crazy from where this community stands now, but I don't think the future value of BTS can be underestimated.
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Lets start marketing first lol
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So much for all the excitement about walls. Its back to 0.123 CNY
Should've held onto some BTC to buy now. I started buying around 7.3k sats (ouch!)
Yeah, as soon as the BTC started dropping, so did BTS.
Still, we are in better shape than before. We pushed through the resistance between .12 and .13. Should be easier to go up next time. It took a ton of dumping to push us back down. Hopefully a lot more of the people who didnt like the merger, but who didnt want to sell at the low, just sold the first rise, leaving BTS in even stronger hands.
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I'll be convinced it can reach 100$/BTS the day I'll see BTS talked about on every financial channels on TV as the new way to do smart banking, and when traditional banks try to shut BTS down with some lobbying to legislators because they feel threatened.
We're a long way to even get 1$/BTS, which is 50 times more than the current value.
We need to start crawling before running.
We should manage our expectations a little...
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*breathing in deeply*
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I'll be convinced it can reach 100$/BTS the day I'll see BTS talked about on every financial channels on TV as the new way to do smart banking, and when traditional banks try to shut BTS down with some lobbying to legislators because they feel threatened.
We're a long way to even get 1$/BTS, which is 50 times more than the current value.
We need to start crawling before running.
We should manage our expectations a little...
Agree completely! The ride to $1 is going to be interesting.
This trillion-dollar-pie-in-the sky speculation can provide useful perspective.
To the crypto community a market cap in the billions or tens of billions seems enormous.
In the fiat world billions are nearly trivial when it comes to asset classes and investment vehicles.
I believe folks are going to be stunned when a crypto really catches on; there is just so much liquid wealth sloshing around right now, looking for yield. Give it a place to park and look out.
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Agree completely! The ride to $1 is going to be interesting.
This trillion-dollar-pie-in-the sky speculation can provide useful perspective.
To the crypto community a market cap in the billions or tens of billions seems enormous.
In the fiat world billions are nearly trivial when it comes to asset classes and investment vehicles.
I believe folks are going to be stunned when a crypto really catches on; there is just so much liquid wealth sloshing around right now, looking for yield. Give it a place to park and look out.
And along those lines, I hope you've all seen this recent Coindesk article (link below). It seems that many general businesses and individuals (almost 80% of them!) already believe that they'll soon be using digital currencies. They are not users yet, but they "plan to adopt" digital currencies in the future. And the survey of individuals showed the same #. SO maybe there is less work to be done than we thought. It still will be a hard climb, but man, if we show these folks a great product, BitUSD should be in great shape.
http://www.coindesk.com/hp-survey-79-us-organisations-plan-adopt-digital-currencies/ (http://www.coindesk.com/hp-survey-79-us-organisations-plan-adopt-digital-currencies/)
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Crypto-hurt instead of crypto-riches. That's, unfortunately, the environment where BitShares must proceed with the marketing...
My guess is that hedge fund money is accumulating and positioning for a drive to $10k/BTC once the ETFs are live.
You will see the log charts all over the media guaranteeing $10k per coin based on previous bubbles.
Retail investors will throw a few bucks into the ETFs and it will become a self-fulfilling prophecy.
Next leg up to $100k will be retail + institutional + sovereign wealth trying to jump on the train, say 2-3 years.
By then BTS will be mature, investors will have gotten a taste of crypto-riches and the moon rocket will launch.
5 years BTC could be $100k and BTS could be $100.