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GM. This is Milk Road, the crypto newsletter that’s as thrilling as Michael Saylor’s latest price predictions.
Here’s what we got for you today:
- ✍️ Price predictions from Bitcoin 2024
- 📊 COTD: Weekly crypto fund flows
- 🥛 PRO “Where are we in the cycle?” indicators
- 🎙️ The Milk Road Show: US to Buy 1 Million BTC? Bitcoin Nashville Recap & Highlights w/ Tyler D
- 🍪 Hamster Kombat hits 300M users
Prices as of 9:30AM ET. Click here for our Fear & Greed Index
PRICE PREDICTIONS FROM BTC 2024 🫣
GM, crypto comrades!
Remember those days when Bitcoin was just a blip on the financial radar and people thought Satoshi was a type of sushi?
Well, fast forward to 2024, and The Bitcoin Conference featured some high profile speakers and some HEFTY price predictions.
Whether you’re an OG Maxi or a fresh HODLer, you don’t want to miss these predictions from the legendary Michael Saylor and Jan van Eck.
Let’s jump in.
1/ Michael Saylor (Microstrategy)
Michael Saylor, the man who's so bullish on Bitcoin that he probably has a pet bull named Satoshi, made waves at Bitcoin 2024 with his milk-dropping predictions.
He's forecasting a base case that Bitcoin's market cap will reach a whopping $280Tby 2045.
If you stacked all those dollars up, you could probably reach the moon and back, and then build a nice little Bitcoin-themed resort up there. 🌙
Saylor didn’t stop at $280T, though. He's also got his eye on a bull case market cap of $1,030T (wait, is that a QUADRILLION?!).
If you’re anything like the Milk Man, you pulled out your handy dandy calculator to do the “how many X is that?”
YUP! A 754x from current prices… 🤯
Even his bear case features a 52x from current prices… Saylor only sees up!
2/ Jan van Eck (VanEck)
In the short term, VanEck is predicting that Bitcoin could reach a new ATH (all-time high) in Q4 2024, driven by political changes and regulatory optimism.
Their long-term forecasts (2050) are even more juicy:
- Bear Case: Bitcoin at a minimum of $130K.
- Base Case: Bitcoin at $2.9M per coin.
- Bull Case: Bitcoin soaring to $52.4M. (WAIT that’s higher than Saylor’s 😱)
VanEck thinks Bitcoin will be adopted as a global medium of exchange and a reserve asset, handling 10% of global trade and 5% of domestic trade.
Their base case has central banks holding 2.5% of their assets in Bitcoin, leading to a potential market cap of $61T.
Michael Saylor and VanEck are painting a future where Bitcoin reigns supreme, potentially hitting mind-bottling valuations.
Whether we’re talking trillions, quadrillions, or just a few million, one thing is clear: Bitcoin’s journey is far from over.
In fact, it hit the 15 year mark which usually is a great longevity indicator in the tech world. (S/O Ian Rogers, CXO of Ledger, for this insight)
As always, stay informed, stay curious, and maybe keep a little space in your digital wallet for the next big thing.
Who knows, in a couple of decades, we might just be tipping our AIs with Bitcoin from our moon bases. 🤖
This brings us to a Milky question: As some know, there is ZERO $BTC in the Milk Road PRO team’s portfolio.
Be honest, is this a dumb move? Hit reply and let us know with your thoughts!
A/ “Retardio” level dumb (if triggered talk to Hugo Martingale)
B/ Not crazy dumb but surely not smart
C/ Smart! $SOL and/or $ETH have more upside potential PS: You can keep up with the PRO Portfolio here.
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COTD: WEEKLY CRYPTO FUND FLOWS 📊
Hold onto your digital bags, folks! The Ethereum ETF launch brought in a whopping $2.2B, but the old guard selling put a damper on things.
Digital asset investment products saw a modest $245M of inflows last week, hiding a mixed bag for various digital assets.
Let’s dig into it 👇
Here are the flows:
Bitcoin ($BTC): The king continues to rule with healthy inflows of $519M, bringing its month-to-date inflows to $3.6B. 👑
Ethereum ($ETH): The US spot-based Ethereum ETFs launch saw massive inflows of $2.2B.
However, Grayscale's incumbent trust saw $1.5B in outflows as investors cashed out. This, plus other ETH ETF outflows, led to a net outflow of $285M. 😵💫
This played out similar to the Bitcoin trust outflows (GBTC) from January 2024's ETF launch.
Regional rundown:
- The US: Leading the pack with $272B in inflows.
- Switzerland: Chipped in $40M.
- Brazil: Had minor outflows of $5.6M.
- Hong Kong: Also saw minor outflows totaling $3.5M.
Seems like the US election comments around Bitcoin as a potential strategic reserve asset and the increased chances for a FED rate cut in September 2024 might be boosting investor confidence.
PRO “WHERE ARE WE IN THE CYCLE?” INDICATORS 🤔
Crypto moves in cycles, and knowing where we are in the current cycle is crucial for capturing the best opportunities.
The goal is to spot the bull market peak before the inevitable bear market hits your bags hard.
Since timing the top perfectly is almost impossible, we use various indicators to give us a better shot at taking profits before it's too late.
Below are the 5 indicators we track, with a color-coded system to show how close they are to signalling the market peak:
🟢 Plenty of room to run 🏄
🟡 Getting closer to the top signal, but haven’t yet reached the mark ⚠️
🔴 We’ve hit the market top indicator 🚨
Every Tuesday, we update these 5 indicators exclusively for PRO members.
Our advice? Don't wait for all of them to hit 🔴. It's better to take profits as they get closer to that point.
Let's dive in and see if we're anywhere near the top of this bull market. 👇
