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This was a turning point. The amplitude of the rising exchange reserves on a 45% drawdown is far outside what was expected. We’re headed for a late 2022 early 2023 supply shock. My $400k price target unchanged.

This was a turning point. The amplitude of the rising exchange reserves on a 45% drawdown is far outside what was expected. We’re headed for a late 2022 early 2023 supply shock. My $400k price target unchanged.



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28 Comments

  1. There’s no doubt that at some point we will see a gamma squeeze and it will go parabolic. I think regulation and large institutions need to come into the space first. Maybe 2023. Recession looming and rate hikes are going to affect stocks this year, I can’t help but feeling where we are still seen as risk-on that we’ll see some more pain before we see upwards momentum again.

  2. Where is the demand going to come from? All of the retail bag holders who own 80% of short term supply have an average notional cost of $45k. You think they are going to buy back in after crapping their pants for months on end?

What do you think?

The Miami bull’s balls were removed on orders from TradeStation, the trading platform that commissioned it, to avoid “feeding the gendered stereotypes about finance”. 🤡 “I had designed some huge, mechanical balls,” said the artist.”

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