The Bitcoin Wars
Act 1: 2013/2014 Dread Pirate Roberts
Bitcoin vs The US Government
Act 2: 2017/2018 The Insider Coup
Bitcoin vs Corporations & Miners
Act 3: 2021/2022 The Woke Mob & Shill-a-coin Valley
Bitcoin vs Cryptocurrency Network Effects
Act 4: 202X The Final Boss
Bitcoin vs Central Banks
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We are currently in Act III, Bitcoin vs The Woke Mob & Shill-a-coin Valley.
Bitcoin is money. It always has been.
Unlike copycats like Ethereum and other altcoins, Bitcoin does not need to come up with new narratives for it to enter a new cycle of adoption.
As Bitcoin enters into a bull market, it attracts speculators, grifters and charlatans to create shitcoins and pump them.
The 2021 bubble was something to behold. Hundreds of billions of dollars were pumped into the triple bubble narratives of DeFi, Memecoins & NFTs. Bitcoin is currently under heavy attack by shill-a-coin valley VCs who are actively ignoring Lightning Network and promoting proof of stake schemes & bubble logic crypto narratives like NFTs & DeFi ponzinomics.
Unfortunately, we have to go through another full cycle of having all of the millions of people lose their gains and realize that the "ultrasound money" narrative for Ethereum, as well as the other crypto narratives (utility is a popular left curve narrative this cycle) are nonsense, and all cryptocurrencies compete with Bitcoin as money.
I expect Bitcoin to drop to ~$20k, I'm not selling any Bitcoin. I'll be buying all the way down, just in case I'm wrong about the prediction.
If I'm wrong and it goes all the way down to $15k, I'll still buy. Bitcoin is extremely undervalued. The lower Bitcoin goes, the better it will be to build a base to launch from next cycle, hopefully with more Bitcoin Maximalists minted from the rektoning of Bitcoin winning the war against the Woke Mob & Shill-a-coin Valley.
Act 1: 2013/2014 Dread Pirate Roberts
Bitcoin vs The US Government
Act 2: 2017/2018 The Insider Coup
Bitcoin vs Corporations & Miners
Act 3: 2021/2022 The Woke Mob & Shill-a-coin Valley
Bitcoin vs Cryptocurrency Network Effects
Act 4: 202X The Final Boss
Bitcoin vs Central Banks
--
We are currently in Act III, Bitcoin vs The Woke Mob & Shill-a-coin Valley.
Bitcoin is money. It always has been.
Unlike copycats like Ethereum and other altcoins, Bitcoin does not need to come up with new narratives for it to enter a new cycle of adoption.
As Bitcoin enters into a bull market, it attracts speculators, grifters and charlatans to create shitcoins and pump them.
The 2021 bubble was something to behold. Hundreds of billions of dollars were pumped into the triple bubble narratives of DeFi, Memecoins & NFTs. Bitcoin is currently under heavy attack by shill-a-coin valley VCs who are actively ignoring Lightning Network and promoting proof of stake schemes & bubble logic crypto narratives like NFTs & DeFi ponzinomics.
Unfortunately, we have to go through another full cycle of having all of the millions of people lose their gains and realize that the "ultrasound money" narrative for Ethereum, as well as the other crypto narratives (utility is a popular left curve narrative this cycle) are nonsense, and all cryptocurrencies compete with Bitcoin as money.
I expect Bitcoin to drop to ~$20k, I'm not selling any Bitcoin. I'll be buying all the way down, just in case I'm wrong about the prediction.
If I'm wrong and it goes all the way down to $15k, I'll still buy. Bitcoin is extremely undervalued. The lower Bitcoin goes, the better it will be to build a base to launch from next cycle, hopefully with more Bitcoin Maximalists minted from the rektoning of Bitcoin winning the war against the Woke Mob & Shill-a-coin Valley.