poorbaldmonkey on Nostr: Bitcoin could easily hit 10kb again. There's a ton of Bitcoin owned by institutions ...
Bitcoin could easily hit 10kb again. There's a ton of Bitcoin owned by institutions that have done understand it and just see at a any other asset to trade. That means they'll sell it off in an attempt to save themselves if they find themselves being allowed to fail b as they should.
The bitcoin price denominated in dollars will, over time, take care of itself. It will always eventually continue to go up. But, if bitcoin is doing what bitcoin is meant to do, until it becomes a reserve currency (which I think is likely to happen before or at the same time as hyperbitcoinization) it's still going to have swings because, at the end of the day, the market is people. And people, especially those in the institutions it seems, are panicky and often don't really understand what they're doing.
So, I'm not going to rule out another round of 10k bitcoin any more than I'm ruling out a 10+ million bitcoin.
The bitcoin price denominated in dollars will, over time, take care of itself. It will always eventually continue to go up. But, if bitcoin is doing what bitcoin is meant to do, until it becomes a reserve currency (which I think is likely to happen before or at the same time as hyperbitcoinization) it's still going to have swings because, at the end of the day, the market is people. And people, especially those in the institutions it seems, are panicky and often don't really understand what they're doing.
So, I'm not going to rule out another round of 10k bitcoin any more than I'm ruling out a 10+ million bitcoin.