0xen 🎩
@0xen
What if Bitcoin just ranges between 55 and 72 forever
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@thumbsup.eth
It’s still about 10-20x overvalued for what it does and its likelihood of adoption at a scale that would justify this range. It just shot way outside of any sensible valuation and now no one wants to sell, because some think it will go higher (small/medium players, maxis), and others (big/institutional players) are just happy manipulating the market / arbitraging via wyckhoff
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@thumbsup.eth
Given the global value settled on ETH, it should be at about 5-10k, and BTC should be down around 2k, maybe less. But given how much of that value onchain on ETH is wrapped Bitcoin, that would bring ETH’s value to at least that lower bound mentioned above
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