A barrier to people buying bitcoin is that the price has gone up so much that they think they missed the move and don't want to feel stupid for investing if the price falls.

A bitcoin ETF will drive the price higher but isn't positive for long term adoption.

would have liked that historic average to include the late '90s

An impact that isn't being talked about is the impact of fiscal policy in the fourth year of Biden's term. It is highly likely the impact of the 'Inflation Reduction Act' will still be felt and the administration will do anything to juice the economy heading into the election. Could that stoke asset prices or inflation?

Shin Asakura House. Love how the roof accents make the angular roof appear more curved.

2024 consensus trades:

Yields down

Credit spreads wider

Stocks up (US over international, but value over growth)

CRE down

Housing flat to down

Crypto is back

If gold holds here it is bullish

Commodities mixed?