No idea, I usually avoid alts unless I get a strong feeling its going to work. its a tough game, you got to time it really well, they are like hot potatos
I think Trump making Bitcoin a national strategic reserve is huge news that hasn't really been reflected in its price yet. Sure, there was a bit of a price bump when the news first leaked, but the idea of global central banks buying BTC? That's definitely not priced in yet. This could totally change Bitcoin's usual 4-year cycle and make the market act in ways we've never seen before. It feels more and more likely that Bitcoin will blow up into a massive bubble sometime in the next 5-10 years. The tech is too groundbreaking, and the story is too good for it not to happen. People who get in early will reap the rewards, while those who jump in late will be stuck holding the bag when things go south. But if the US makes BTC a strategic reserve, it will: Give Bitcoin even more credibility with both regular and institutional investors around the world. Make countries that are not on great terms with the US rethink their stance on Bitcoin. Places like China, Russia, and parts of the Middle East might start to realize they were wrong and could begin buying it. After the Ukraine war, I wrote that I considered gold, uranium, microchips/semiconductors, and Bitcoin to be key national strategic assets. It looks like that idea is becoming more and more a reality Imagine a country like El Salvador if/when BTC hits $500K. Their president will have single-handedly turned the nation into a creditor by acquiring a strategic asset early. By issuing fiat debt and buying BTC when it was cheap, they can pay off the debt later and pocket the difference. This move would enable them to fund tax cuts or social programs. The incentives for countries to play this game will be huge, and retail investors and institutions will try to front-run it. This could become the greatest bubble of all time, with everyone globally involved.
This is exactly the thoughts that I've been having and sharing here as well. I think the 4 year cycle is broken in some way, and I think this cycle will be the end of cycles. After the high on this cycle, its not going to drop 70-90% again. Everyone who starts selling at 300k, 400k, 500k better start buying back in again. But my more immediate reply was that Adam Back agreed with Trump that Bitcoin will flip gold, and he said this cycle likely. So I think we are kind of entering a new era of bitcoin price discovery. The mechanisms that caused 80% price crashes will probably not be playing out this time around. And even if bitcoin starts selling off hard, everything else will I think sell off even more in some deflationary collapse, so all assets will get hit hard, and this will likely be because the authorities choosed to save the dollar vs. the economy and the debt system. But with all the talk of a strategic bitcoin reserve, Bitcoin can easily do a 10x or 50x to reset the debt/GDP ratio and pull the US out of the debt spiral.
Snowden already said this would happen early on this year. He still knows how to tap into encrypted phone calls by CEOs and government officials, so why would it not be priced in? With US debt spiraling out of control, what other options are there? Austerity is not an option by western standards. They want NOW NOW NOW. There is no such thing anymore as delayed gratification. A problem is if BRICs countries use their own fork...