Reasons against and reasons for a potential bear market territory are valid - i.e. overextended alt market and fear index creeping in to sentiment early. I have not compared previous sentiment indicators with price action...
Believe in the tech, and believe in your investment. Remember Hodlers have come out on top in every situation such as this in the past.
A quote;
" In human history, no single asset has come under such coordinated assault by the very global institutions that perpetually inflate asset prices in the name of securing prosperity. And yet, through it all, digital asset trading carried on, obliterating the leveraged longs, wiping out the weak.
For the first time in decades, we saw the ferocious beauty of truly free markets operating at scale. Efficiently. Ruthlessly. These assets inhabit a world without a buyer of last resort to bail out its bankers. It was a remarkable display of antifragility.
To appreciate it fully, simply imagine how today’s equity, bond and credit markets would withstand a withdrawal of government support, let alone a full-frontal assault.
It is this independence and resiliency that underpins the longer-term attractiveness of digital assets. But like all powerful new technologies, their promise is poorly understood by most pundits. "
@fx_kieha ICP and other POS tokens IMO. Bitcoins a dinosaur tech wise
what_a_nice_cereal_box
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Institutional investors like old and reliable over new and unproven. It took them ten years to even test the waters with Bitcoin. It’s still too new for some of them. Legacy tech and first mover advantage is going to win this fight. BTC can easily be upgraded as needed in the future. Hell with the Lightning Network it doesn’t even really need much, it’ll be able to millions of transactions per second and smart contracts. And that is already in use by the more hard core users.
jaredlee283
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Your points are valid in terms of tech and hodlers but i think you cannot justify a bull run based on its percentage rise. Going all the way back to 2013, rallies have slowed from 7 digit % increases to now where we are having 3 figure % increases.
This is due to the increase in the price of bitcoin. You simply cannot have another 1000% (1/3 of 3000%) rally because 1000% from $30,000 would give it a value of $300,000
I’m not saying a value of $300,000 is not possible. It is possible. Just not with the current halving cycle.
Wynnsa
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@jaredlee283, Valid points, although I would urge a discussion on the wider aspects of the topic such as the relative market cap in relation to something like Gold. That growth capacity is there to allow for these percentages, although I doubt many would argue the point of seeing the percentage increase associated to the 2013 cycle given todays price. I dont disagree with the points you raise I think they are valid
F1v3am
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Liking this because it's not impossible and I need the hopium.