@maretus

What if we’ve actually been in a bear market and the only reason Bitcoin has done well is because of institutional adoption and ETFs? What if Bitcoins 4 year cycle has previously coincided with the business cycle but this time it didn’t? Bitcoin has done well even in an environment of QT/constrained liquidity. This would explain why Bitcoin has done well and alts have not. The business cycle has been in its longest downtrend ever. What do you think will happen to crypto when the business cycle turns and liquidity is less constrained? One of the main counter arguments is that the stock market is also at ATHs; but if you look underneath it’s mostly because of 10 companies. A huge chunk of the market is also in a downtrend but AI has been carrying the major indexes.

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