Supply & demand.
Yes - there are similar effects on the way down.
Bitcoin is the only resource that has a purely inelastic supply & so all supply for new demand must come from existing stock. Most resources don't have a multiplier this high over long timeframe since production can be increased.
Plus with all the exchange collapses last year, self custody/not rehypothicating is top of mind. Less paper bitcoin suppressing price. It’s bearish, btc is going to explode to the upside
Being early can feel a lot like being wrong.
My greatest regrets have come from giving up too early.
So long term hodlers refusing to sell creates a multiplier on new capital coming in . Thank you
