Honestly, i heard someone (I think it was Rizzo) say on a podcast a couple months ago that it was time for a drawdown. He said he doesn't really look at charts, but at a certain point, every piece of good news pumps the price alot. Later in the cycle (like now,) no matter how bullish the news gets (Terra buying, CAR nation state adoption, canadian trucker financial disenfranchisement, UKR/RUS war disrupting USD hegemony) the price doesn't pump.
Advances are still happening and coins in exchange reserves haven't been lower for a long while. Volitility keeps out big institutions and people looking for predictable gains. These people don't have strong Bitcoin values anyway. They'll eventually come, but I'm sure at a much higher price. 2017 went from just about 20k to 3k. This is what happens.
Personally, I don't want BTC to stedily rise yet. If that was meant to happen, we would't have a halving every 4 yrs, we would have a much smaller block reward decrease every year, month, or even week.
reply
  1. LN is too slow and often cannot find a path and LN is thus useless.
  2. BTC-volatility makes it useless as a store of value.
  3. Stablecoins solve virtually all fiat-problems (e. g. remittances) better than BTC.
  4. People care very little about a 15%/year inflation rate for quite some time. They think prices increase due to capitalists greed.
  5. Even after more than a decade there is not a single place where there is a circular BTC-economy. Nobody in El Salvador gets paid in BTC, except some tiny esoteric BTC-companies doing it as a "thing".
  6. BTC-developers are utterly clueless about userfriendliness of their high-tech apps. Every.single.one. Except two.
reply
BTC needs a killer application, which cannot be satisfied by stablecoins. Please write one:
  • streaming music or movies for sats, anonymous hosting, torrent based.
reply