Let me start of by saying this is not at all driven by technicals. In fact, the underlying properties of bitcoin, its potential, and the way our society/economy is doing is what created this.
All of this going on with WSB and Gamestop just makes my conviction on bitcoin stronger. People are starting to revolt seeing that the stock market has always been manipulated by hedge funds/institutional investors. Now that retail investors are joining in, they want to move the field posts around to benefit their positions. I'm not saying the market is in a bubble, but valuations and returns have been through the roof the last few years. Quantitative easing and all of the stimulus has been destroying the dollar and propping up our market.
Wall Street doesn't care making money at the expense of retail investors and the narrative is starting to turn. The currency for all of this has been the dollar which will continue to suffer as all of this occurs. The perfect mix of a pandemic, money printing reaching insane levels, increasing deficit, and artificial market stimulation tells me that this won't end well for the dollar.
$BTC literally benefits from all of those things I just mentioned. Its quite the opposite of the dollar. Its properties are deflationary, asymmetric, and decentralized. Its almost as if Bitcoin is the missing puzzle piece to solve (or should I say to save) our financial system. This is only the beginning of a revolutionary technology that people will try to desperately fomo into in less than a decade.
Oh, and don't worry about the bears. We need them; it lets us know we are still early and have plenty of room to go.
TLDR; Retail investors are shedding light on the fallacies of Wall Street and the USD will be next. Dollar cost average into Bitcoin long term and thank your genius self by next the next halving. Remember, the dollar's weaknesses are literally Bitcoin's strengths.
Submitted January 28, 2021 at 10:48AM by BM7K https://bit.ly/2KUiT91
No comments :
Post a Comment