I know there is a lot of leveraged trading on Bitcoin in both directions and that adds to the volatility in both directions. But over a long enough timeframe the accumulators of the physical bitcoin generally move the market up as true scarcity comes into play.
This 6-months range bound falling price action is weird. My instinct is that stackers and hodlers should have broken through this by now.
My gut feeling has always been that when ur too big to fail (central banks and their primary players/institutions) u can make as many losing bets as u want…until ur safety net (USD/fiat) dry rots and then those losses start to matter.
IMHO
Signs of said dry rot will be when govts, institutions, corporations and private citizens start opting (to the extent they can) for stores of value other that your fiat denominated assets (…oh yeah🤔 that’s already happening😳) followed by same players opting outta ur fiat currency as a unit of acct and means of exchange. That latter domino has yet to fall but the Brics+ nations are sure banging that drum….time will tell 🤷🏽♂️
But wtf do I know. I’m an idgit and wrong about almost everything 😂
