The institutional legitimacy #Bitcoin has gained, seemingly overnight, will be an influential catalyst for this cycle. Institutions going long on derivatives markets is another reason to focus on your stack rather than its fiat value…if #BTC only went up forever, then people using leverage would always do better than people trading spot…but this isn’t the case in real life!!! In real life whoever can hodl harder and take more blows will win.

Not to say there isn’t money betting on both sides, but spot allows you to weather the storm with 0 chance of getting liquidated.

Holding spot is essentially the tortoise to trading with leverage’s hare.