Really great analysis on why bitcoin is priced where it is, and also analysis on where it could be headed. It gets a little technical with futures jargon, but you need to understand that stuff to get a better understanding of why bitcoin moves the way it does.
Highly suggest you have a read.
Interesting quote from the first newsletter
The supply held by liquid entities usually shrinks a little during bull markets as more investors accumulate and store away. However, this time we’re observing an amplified reduction of liquid supply. Currently about 14.6M out of the 18.6M issued bitcoins (78%) are either lost or being hodled long term, leaving less than 4M bitcoins to be shared amongst future market entrants (incl. Paypal, Square, SP500 Companies, ETF’s, etc).
What was that saying about supply and demand?
For all I know, the price of bitcoin depends on the supply and demand. There is no other factor that it depends on. When the demand increases, bitcoin’s price increases and when demand falls, the price also falls. As simple as that!
