This Bitcoin Bull Market is Different | Get Ready for a Massive Super Cycle ($1,000,000)

hey what's up guys bitcoin supply becomes 
very small in this video i will explain the   diminished bitcoin supply then we'll take 
a look why this bull market is different   this could be a massive super cycle that 
will take bitcoin over 1 million dollars   let's take a quick look at the cryptocurrency 
market as of the time of this recording   bitcoin is trading around 47 000 with the 
market cap slightly below 900 billion bucks   right now bitcoin also worth more than the 
entire cryptocurrency market back in 2017.   currently the entire cryptocurrency market 
is almost at 1.5 trillion dollars this is   insane ethereum is over 1 800 yesterday ethereum 
actually hit an all-time high over one thousand   eight hundred seventy bucks cardano is trading 
slightly below 90 cents in fact the entire   cryptocurrency market pulled back a bit just 
slightly from yesterday we know that grayscale   bitcoin trust cumulates bitcoin like there is no 
tomorrow now they are doing the same with ethereum   since greyscale ethereum just opened in november 
the fund accumulated more than 3 million eth   that is currently worth 5.5 billion dollars 
just yesterday they bought 53 000 ethereum at   the value of 94 million dollars the demand from 
institutions after ethereum continues to increase   here's the chart that will blow your mind this 
chart represents liquid and highly liquid bitcoin   supply from highly liquid bitcoin supply you can 
probably get those coins from the cryptocurrency   exchanges for the bigger players that buy bitcoin 
from otc market is more complicated and therefore   they usually buy btc from just liquid supply so 
all together liquid and highly liquid current   supply is only 4 million bitcoin there is only 4 
million bitcoin you can get your hands on and the   number is steadily declining since the beginning 
of 2020.

Just to give you a bigger perspective   there won't be more than 21 million bitcoin in 
existence ever currently there are more than   18.6 million bitcoin has been minted for the past 
12 years so if there is only 4 million bitcoin   that is liquid and highly liquid it means that 
there are 14.6 million bitcoin are eliquid those   are the bitcoin you cannot buy from the market 
this includes satoshi's bitcoin and of course   my bitcoin sees i am not planning to sell it as 
more and more corporations and institutions buying   bitcoin that 4 million btc becomes lower and lower 
i'm not going to be surprised that by the end of   this year there will be only 2 million or possibly 
even 1 million bitcoin that is liquid can you even   imagine what might happen to the bitcoin price 
in that case bitcoin price will go to the moon   now let's take a look at this super bullish chart 
this yellow line represents bitcoin dermisive   low and the black line represents of course a 
bit comprised bit condermacy flow is the ratio   of the current market capitalization and the 
annualized dermis value measured in u.s dollars   an adjusted dermacity flow can be used to time 
market slows and assess whether the bull market   remains in relative normal conditions it helps 
confirm whether the bitcoin is in the bull market   or bear market if the bitcoin dormitory flow 
reaches 1 million this is a strong indicator that   the bull market just getting started back in 2011 
as soon as the ratio surpassed 1 million level   bitcoin price spiked massively then in 
mid 2012 we had even bigger bull market   the dormitory flow crossed 1 million when 
bitcoin was trading at around 10 dollars   back then in that bull market bitcoin reached 
all the weight still 1 100 dollars and noticed   that dormitory flow ratio did not drop below 
1 million level for the entire bull market   then when bitcoin entered into the bear 
market the dormitory flow dropped respectively   then we had another 2016-2017 bull market this 
ratio surpassed 1 million in january 2016.   this is the time when bitcoin was trading at 
around 400 a coin in that bull market bitcoin   increased from 400 all the way till 20 thousand 
dollars by the end of 2017.

Also dermacity flow   did not drop below 1 million once again it touched 
the line couple of times but it did not drop below   then of course as bitcoin went into the 
bear market the ratio dropped respectively   in 2019 we had the fake breakout in which case 
bitcoin was consolidating sideways for the most   of the part except the coronavirus massive drop 
and just recently dermaci flow tested one milling   level once again so it will test it again and if 
it surpassed the line i believe this will be a   huge bullish indicator for the massive bull market 
run in 2019 we did not have large corporations and   large institutions buying bitcoin but right now we 
do have that this is why the current bitcoin price   is at forty seven thousand dollars and this could 
be just the beginning in 2012 and 2013 bull market   from the point where the ratio surpassed 1 million 
bitcoin increased by more than 100 acts in that   bull market in 2016 and 2017 bull market the 
dormitory flows are past 1 million when bitcoin   was at 400 as i mentioned earlier in that bull 
market bid consult at 20 thousand dollars and   that would be 50 x out of y right now we just test 
the line if the dermis flow surpasses 1 million   and stays above that line we can truly enter into 
the massive super cycle in the first cycle bitcoin   made 100x in the second cycle bitcoin made 50x and 
in this super cycle bitcoin can easily make 20x   let's say if dermasiflov surpasses 1 million 
level then bitcompress will be at 50 000   then from that point 50 000 times 20 that would be 
one million dollars of course it would not happen   in a single year this super cycle could last two 
plus years this is what dan held is talking about   let's take a look what then health has to say 
about the upcoming super cycle he will explain why   this super cycle is different from the previous 
two and then he will give us his price target in   this upcoming super cycle let's take a look when 
i look at these cycles though what makes me very   excited about this upcoming one which could be and 
i'll go into this in a little bit a super cycle is   that this time is different the 2013 bull run 
the 2017 bull run it was mainly based on retail   driven speculation the macro markets the rest of 
the world was doing fine it was a large bull run   and these were mainly speculative cycles run by 
retail with a very shaky infrastructure especially   in 2013 you had mount cox which was a horrible 
infrastructure and a horrible critical component   that broke down at the at the peak with this 
bull run we've got a lot of different things   lined up one we have covid which occurred covid 
was the catalyst moment that makes bitcoin shine   with the coveted lens when we look at bitcoin 
for most people who had dismissed it previously   now it makes sense you and that's where 
we see this echoed by the institutions   the the managers of all the wealth in the 
world the large portion of wealth in the world   they look at bitcoin as a store of value as a 
gold 2.0 which was my investment thesis back in   2012.

That's what bitcoin represents it's a gold 
2.0 and that is a huge value for the world as we   as we saw governments as the governments had 
their response to kovid being money printing   that will devalue these currencies eventually and 
folks are looking at the 21 million fixed hard   cap of bitcoin they're looking at this monetary 
policy they're looking at bitcoin's construction   and how decentralized it is and i can store value 
in it and no one can take that value away from you   as this incredible lifeboat and you know it's hard 
for people to really understand that you need a   lifeboat until your ship is sinking and you're 
like oh [ __ ] i need a lifeboat but you know   selling selling lifeboats when there's no ship 
sinking there's not a big market for that and so   bitcoins demand or people believing in bitcoin 
that market has grown tremendously to where now   we have institutions we also have a much more fast 
retail customer segment so retail buyers can now   buy bitcoin and paypal robinhood cash app they can 
buy it everywhere and eventually that's going to   reach like brokerages like fidelity like within a 
retail broker fidelity or e-trade and interactive   brokers eventually you're going to be able to 
buy bitcoin everywhere which means bitcoin can   now tap into all demand that wants it additionally 
retail can better understand bitcoin due to like   podcasts like what bitcoin did um some of my 
writings hundreds of other bitcoiners writings   we've now compressed the narrative to where we 
convert someone from a no coiner to a bitcoiner   much more rapidly than before before you'd have to 
spend tons of time reading about it now you could   listen to two podcasts watch one youtube video and 
read one article and boom you might be convicted   so we've got institutional demand retail demand 
the macro backdrop of this this whole world kind   of a flame and then within the crypto community 
we only have really one narrative right now   gold 2.0 store value bitcoin can totally 
dump bitcoin totally dominates that narrative   whereas before that narrative was dominated 
like in the 2017 cycle by ethereum and icos   and so that really diminished the bitcoin's 
resounding narrative of store value and that's   where we're seeing bitcoins purpose for why it was 
built you know shown in this cycle as like in the   in the macro world bitcoin stands out as this as a 
safe store of value we've got more ways to buy it   than ever bitcoin is not going to look like the 
other cycles people go oh well it's just going   to have a typical cycle of it's going to go from 
this up this this you know 10x 20x and then we'll   have a bear market and i'm like i don't think so 
i the world didn't realize why they needed bitcoin   back then they just speculated on it and now they 
realize why they need it i mean governments across   the world are engaging in huge money printing 
operations they're doing wealth confiscation there   is no better moment for bitcoin than this moment 
and then if you look at bitcoin's fundamentals oh   in the 2017 cycle we had a civil war so when i 
talked about those cycles before where you had   people come for the speculation and stay 
for the sound money well more people now   understand why it sounded money because of covid 
they better understand why bitcoin is valuable   and they're not just in it for the quick you know 
flip of a 1x 2x return they're in it because they   need to flee policies uh with their local 
governments where their local governments   are printing tons of money and devaluing their 
currency and that's where i've seen the narrative   shift with friends and family who never believed 
in bitcoin before and now they're like i need   to get my money the hell out of here you know 
this is a this is a way to escape so when that   happens i don't think we see it bear because the 
bear before was just all the speculators leaving   but now these speculators are largely people 
fleeing for good reason so i see the bear   market being much more mild this time around as 
people woke up to bitcoin's value and they come   in and they store value in there permanently 
and so i just don't think we're going to see   that previous cycle from both a bear perspective 
so how much drawdown will we have from the peak   and also the bull a lot of people reference 
the 2017 cycle because that drew in the most   folks before this cycle and they reference that as 
their their anchor point for how a bull run looks   well in 2013 we actually had two bull runs it went 
from 10 to 260 down to 100 in march 2013 and then   later that year from like october through december 
it went from 100 to 1200 so we could see something   like that and i would consider that to be a super 
cycle you know i would say that plus like a much   more mild bear would constitute my description of 
a super cycle i think price is what we look at to   define a super cycle yes sure there's a lot of 
on-chain metrics and volume and everything else   but the price is the cleanest distillation 
or as product folks might call it the kpi   i think you know we look at if we there's a whole 
bunch of ways to look at this right if we look at   what a traditional cycle would look like you know 
people are looking at between anywhere between 100   000 and 250 000 that's using like historical price 
action that's that's looking at like a decaying   rate of return with the cycles there's a million 
ways to slice this right so i think like i think   between 100 and 400k would be def or 100 between 
100 and 300k would be defined as a classic cycle   a super cycle would maybe take that a little bit 
higher to like plus 800 000 right so that's where   maybe a super cycle i would maybe use it that as 
the definition of one is like going past like 800   000 or closer to a million i think that would be 
like if and i don't by the way super cycle is more   of a fun idea to throw around and think through 
and and the reason why i like it too is that   almost every single time i've looked at bitcoin 
over the last eight years in every single market   the status quo is typically wrong like whatever 
everyone's predicting it's probably not going to   do that and no one's predicting the super cycle no 
one's really thinking about like oh wait this time   is very different people are like oh let's look 
at the last two bull runs i'm like yeah but the   last two borons didn't have covet or anything and 
so i think that yeah like i would say like close   to a million is what the kpi would be for a super 
cycle and why i like it is no one's talking about   it no no one even thinks that's possible and and 
everyone just thinks it's going to do what it did   before and it's a very different environment 
dunhill believes this cycle might be different   because other bitcoin cycles was driven by 
inexperienced retail speculators and this cycle is   driven by sophisticated investors big institutions 
large corporations and high net worth individuals   the biggest catalyst of them all of this super 
cycle is coronavirus that was ultimately a free   bitcoin marketing campaign and of course a massive 
money printing in the end of the super cycle then   health believes bitcoin may reach eight hundred 
thousand dollars to one million dollars per single   coin this is precisely what the bitcondermancy 
flow predicts will that happen only time will show   let me know what do you guys think about 
this upcoming bitcoin super cycle leave   your thoughts in the comment section below smash 
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