What a great setup we have here. Market overwhelmingly bearish with retail shorting bitcoin to all time highs at the end of a bear market. Coin supply dwindling and swap rates rising on finex.
All we need now is a spark start a cascade of short contract capitulation, say, the opening of a wall street etf.
All we need now is a spark start a cascade of short contract capitulation, say, the opening of a wall street etf.
With all due respect to the powers that be, I don't think many of us got into Bitcoin giving a shit about Wall Street. I don't see why that should change now.
True. But for bitcoin to attract new participants it either needs a stable value or not to fuck over everyone who invested previously. A great way for that to happen is for it to function firstly as a store of value (e-gold) and then function as a working currency second.
Gold and silver have destroyed as many fortunes as they've made. I don't expect Bitcoin to behave any differently and don't see why it would.
If you cannot see what suddenly allowing the vast sea of investment capital (multi trillion dollar pool) access to btc could potentially do to the price then I can't help you. Just fifty million USD would smash the price into the stratosphere.
Big picture remains that bitcoin is an excellent assymetric financial bet to speculate upon. Why do you think all the trolls and bears are really here?
