When the price of #Bitcoin  drops, those who do not understand it have weak hands and sell to those who do understand it aka The Hodlers of Last Resort.These cohort of individuals understand #Bitcoin ’s potential and they’re not selling with a very long low time preference.

Supply on the market available for sale decreases every time weak hands sell their #btc  during a price draw down to the true believers of this technology.

So not only do you have the supply shock of the halving but also less #btc  on exchanges for sale with market price cycles.

Thoughts inspired by @parkeralewis on the @TIP_Network episode titled ‘#Bitcoin  is not a hedge’