It turned out (so far) that bitcoin did not care too much about "normies" thinking about it as a stock.
For normies, momentum is the only thesis to invest in btc ETF. I don't believe in the 'store of value' thesis for bitcoin for regular investors. Momentum...and that's it.
Maybe btc is losing an 'edge' becuase of all those ETF "instruments"?
I don't know and , imho, 2X-3X (from 73K) is still within a realm of possibilities (for the next 12-18 mo).
We have some failure to go up and some stalling, perhaps consolidation within noman's land, but we still have not broken below $60k.. so why all the doomy gloomy?
yeah, we have some ongoing attacks on self-custody.. and are they going to keep ramping up such self-custody attacks?
Even some of the BIG players would prefer for their ETFs to go up rather than down.. so if the powers that be are attacking the thing that actually makes bitcoin valuable (which is self-custody), then they can ONLY make money from the fees, and sure maybe that is all that they want, but I also consider that they likely realize that killing bitcoin would not be to their own interest, and so how do they just "kind of" kill it without really killing it?
A lot of precarious positions in this debt-burdened and contradictory unsustainable fiat world that also wants to sink our lil precious rescue boats.
