bitcoin price in augustHe is quoted saying that more and more BTC is being moved to deep cold storage. When there is a correction or the price drops below the recent high, there are hundreds of small 0.01 BTC also buys on exchanges for whales to round up the BTC sold by weak hands. Interestingly last bounce which was sold into also resulted in a stack of limit bids being quoted lower. ~ Keep an eye on those bids… pic.twitter.com/3PKHyddNlv It creates a line on the chart above that shows an estimated price level based on the number of bitcoins available in the market relative to the amount being produced (mined) each year. While speaking of the super cycle, he noted that it was not yet time to talk of hyperbitcoinization as this would only become possible when the market capitalization of Bitcoin surpasses the $1 trillion cap of gold and then the $100 trillion cap of the real estate market.