But can you honestly say Bitcoin will NOT crash again? My belief is that if anything can crash once, it can surely crash twice. Don't get me wrong, I believe in the future of bitcoin, so I ain't saying this out of spite. But the polemic I hear among some of you is no different from the hystria that I'm so familiar of hearing at the end of the bull run.
Also if you're gonna make a prediction that BTC will go up to $1 million, let alone $2.3 million, why don't you at least wait until the damn thing clears above the 2021 high at 69,000 first? We've only recovered half of that and yet you're already at $2.3 million? Sorry, but I can only roll my eyes.
Anyway, as they say, each to their own. As such, trade/invest well, friends.
I absolutely agree it can crash, and likely will if the market goes down. It is one of the most liquid assets, and even Musk I think sold 1B worth that Tesla had on their balance sheet because he said he needed to do it for operational reasons.
And I agree that we need to clear 69K first. There might well be lots of profit taking here, and certainly at 100k as well. So its not a clear path whatsoever.
But lets look at how different bitcoin is than anything else out there. I mentioned in another post how when bitcoin goes on a rally like AMC or GME, it won't have the same constraints. Its not tied to a balance sheet or income statement. It won't have exchanges turning off the buy button in order to suppress the rally. If people buy bitcoin in a reputable exchange and withdraw to cold storage, that bitcoin needs to be transferred in a 100% verifiable way.
These ETF's are doing well, but bitcoin is still down from the launch date. But if they continue to gobble up 3-5k bitcoins per day, you tell me where they will get it from if mining only produces 900 a day and soon to be 450. The numbers of how scarce it is are absolutely incredible. There will never be every millionaire owning 1 bitcoin as there are maybe just 1 or 2 million coins that are liquid, and even that is suspect. RFK Jr. bought 1 bitcoin for each grandchild after he learned about it during his campaign.
So as it stands today, when the rest of the world wakes up, they won't even have 0.1 BTC allocation possible unless they convert their house fully into bitcoin.
I know this all sounds too good to be true, but I honestly believe in the stupidity of the government to create the shock that sends everyone running towards bitcoin. I spent the last few months exchanging 90% of my silver and buying bitcoin, and let me tell you, it was the biggest hassle. The spread was shit, I had to leave the house, there is only 1 dealer in town that takes it. So essentially, previous metals are a joke. If I was ever to buy it again, it would be the electronic version, but now that opens me up to counter-party risk and I have none of the benefits of bitcoin.
I sincerely don't trust anything as much as I trust bitcoin. Now granted, I don't have huge wealth to protect, so if it ends badly, I'm not that much worse off. But I have enough that when the government sinks the current system, I will do very well on the other side. I have zero faith in the government and have been waiting a long time for this crash and hope that we see it this year. When Powell goes on TV and says the path the US is on is unsustainable, how are not more people scared?
