Every sell-off ends when a catalyst emerges... easy to find catalysts for things like $ETH (EIP-1559), $DOT (parachain launch) but what will be the likely catalyst for $BTC?
Here are 2 possibilities:
Here are 2 possibilities:
1) People constantly confuse "institutional buyers" w/ "fast money traders"
Ruffer, Blackrock, Minerd, etc - traders. They entered (unemotionally) when $BTC was cheap & underlevered ahead of catalysts (4Q20) & exited when expensive, overlevered, & lost its catalysts (2Q21)
Ruffer, Blackrock, Minerd, etc - traders. They entered (unemotionally) when $BTC was cheap & underlevered ahead of catalysts (4Q20) & exited when expensive, overlevered, & lost its catalysts (2Q21)
But these traders made a lot of money, & will return (with others) when $BTC gets cheap again... when
- leverage is flushed (✅)
- fear gets too high (✅)
- fiscal/monetary stimulus continues unabated
Nowhere else to go with rates heading back to 0% & the USD going down.
- leverage is flushed (✅)
- fear gets too high (✅)
- fiscal/monetary stimulus continues unabated
Nowhere else to go with rates heading back to 0% & the USD going down.
2) When people stop looking at daily/weekly prices and take a step back.
For instance, $BTC is now just a 7% drop away from being negative YTD. That's a pretty crazy, and completely counter-intuitive result given what is happening around the world. That will wake people up.
For instance, $BTC is now just a 7% drop away from being negative YTD. That's a pretty crazy, and completely counter-intuitive result given what is happening around the world. That will wake people up.
I'm personally way more bullish on $ETH, #DeFi, Web 3.0, sports/gaming/fan tokens & other sectors of digital assets that accrue economic value via revenues & cash flows than I am about "digital money", but I'm also objective.
Objectively, $BTC positive catalysts are not far away
Objectively, $BTC positive catalysts are not far away
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