I think we are primed for a bounce in bitcoin price in the near future.
Satoshi Nakamoto did not sell his holdings around the 20k high when he would have cashed out billions. So one could derive from this money is secondary to bitcoin to this person. I don’t believe it’s even close to likely he would sell at these low levels which is the only reason that would implode the markets.
The SEC is going to regulate bitcoin however this is not bad for bitcoin. In actuality it is very very good. Regulation are going to Kick out bad bitcoin holders and allow major larger players to get involved. This was confirmed last week.
So this is my outlook on what these regulations will do. Short term loss possible with a monster bounce afterward.
Thoughts?
Disclaimer: I currently hold .0000067 bitcoins.
Regulation is scary in the short term, to some, because it represents an unknown. We dont know how it will directly effect our investments, or the market more broadly. Long term it is nearly certainly a good thing but people are too short thinking to see that at the moment.
When regulation paves the way for billions of fresh investments through thriving ETF markets and that new growth inspires billions more in New investors like you and me... Then people will look back happily.
Regulations are not necessarily good but the trust it evokes in the super wealthy is what I'm excited for. But that takes time.
Good post.
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