
This is a short post I want to keep sweet and simple.
The less there is of something desirable to many people, the more the demand for it rises, the more its price is likely to go up. When the supply is so sharply diminished by a gargantuan growth in "asks", the price can exponentially rise.
- Cold storage of Bitcoin is significant, as reported. People want to hold and see where it goes as nobody really can say where it will "peak", or if it even has a "peak". Cold storage means less Bitcoin available for exchange between people.
- Lost wallets. Enough said.
- Satoshi. If he comes forward, the price will likely only increase. Reasoning: Satoshi carries a mysterious aura and we delight in mysteries. When he is unmasked, it will create a brand story for Bitcoin that will lead to its adoption, familiarity and legitimization. Think of how the Google founders' backstory helped them create warm, heartfelt connection to their search engine users early on in the dotcom era.
In summary, Bitcoin and satoshis can only go above 60k, 120k, 1m and whatever other bets you wanna make, make them now.