Keep dreaming. The rats are fleeing the ship. It's just a scam. There is no substance. You are buying hot air. It's just a scheme propped up with fake tethers. Why do you think they are dumping the tethers and all other coins; they are (soon to be) worthless.
This (bull market ) cycle is very different, retail is not participating, perhaps because of job insecurity (i.e. tech jobs) high inflation not enough liquidity, high interest rates, too much debt (CC at all time high), Good thing we got new players with big money absorbing all these sellers, corporations mstr, metaplanet, rumble, smlr, tsla, central banks, sovereign wealth funds thanks to spot etf's Still good to count our blessings, even as 95k feels too boring and we all want to get to new bitcoin highs again...
You are absolutely right that the retail trader isn't here. So on the one hand, this bull market has been disappointing since its my first one from the bottom, but at the same time, maybe we are still waiting for more players. I watch lots of podcasts on global liquidity, and we are definitely not in favourable territory yet. Its just that we don't know if it for sure is coming. If DOGE manages to greatly cut government spending, I more worry about deflation. I wonder how they will get the money out there, how they will increase liquidity, if they can't do it through government spending. And then I wonder about what do the whales know if they are selling all of this bitcoin in these huge OTC transactions that aren't really impacting price. Don't get me wrong, I fully believe that Bitcoin is the answer, and now more than ever when DOGE has shown how corrupt the government is with printing money and handing it out via all of these government agencies, and bitcoin clearly fixes this. But I just don't know the sequence of events that gets us to a bitcoin standard. It could be a deflationary bust rather than an inflationary one, and if the goal is to always accumulate more bitcoin, sitting through a 50% drawdown isn't the best strategy. (I am still accumulating though)
Bitcoin price would always seem to be too expensive. This is true at $1k, $5k, $10k, $20k, $50k, $100k All bitcoiners feel emotional pain during bear markets, bitcoin goes down 70-80% from the high To the outsiders, bitcoin seems like a very bad risk-reward investment, given the risk of it going down a lot But if we setup a scenario in which we are forced to buy an asset for $100k and it must be worth over $1M in 10 years, or something very bad will happen, for example we lose our life.... The asset to pick would be bitcoin... I cannot see any stock, bond, real estate, art, or anything else that has a good chance of achieving that kind of return in 10 years
Or you could apply common sense and see that people don't need Bitcoin for anything, and outside speculation, there is no use for it. This leads to the obvious factor that if speculators don't play, the market does not function. For Bitcoin to reach those insane levels that you talk about you would need a horde of buyers, and you are already seeing that retailers don't want to be under the guillotine anymore, you can attract suckers once, but right now everyone has seen those drops and are expecting to catch the ride. The obvious plan that everyone has in mind is to "wait for it to drop so they can buy at a cheaper price". On the other side, you have mental individuals like Saylor, buying everything he can. That leads to a market that is slowly but surely draining month after month. Bitcoin rallies happen if institutions can catch retailers, if they don't enter there is nobody to profit on. They need suckers.
All you need is for governments to keep doing what they are doing. Except that you need bitcoin to function as a proper form of money. You Bitcoin haters honestly make me sick. You will cry all day about how things get more expensive, how the government wastes money, how illegal immigrants get shit for free, how healthcare is too expensive, the homelessness, the drug pandemic, etc, and you don't for one second think how all of this is a direct result of the government having the ability to print money. Everyone hates something, be it war or DEI mandates, or inflation, and every single one of those problems is directly tied to money printing. And then when Bitcoin offers a solution, all you can do is shit on it. So keep praising the virtues of fiat and continue to enjoy getting fucked over.
Perfectly said, however the bitcoin holders will not believe anything you just said. They actually believe that fairytale bitcoin is the future.....its nothing but the greater fools theory, I have said this countless times. Its a suckers game ...it will never be used as a form of payment... MicroStrategy is playing a game, in the end it won't work , he is buying it up and shouting that each coin will be millions. It's just hype to get everyone in...once bitcoin drops below the average accumulated price he's been buying at mstr will lose half its stock price in weeks. Sit back and watch. Won't be long.
And you believe that the government will fix everything. You have been screaming for a decade about how horrible everything is. Who made it horrible? The government? And who do you think will fix it? Oh yes, that same government. Good luck with that. You are getting raped by the same system who you hope will one day stop and make it all better.