CRYPTO SPRING — SteemCN

The biggest driver of Bitcoin is global liquidity, not just the FED liquidity. If you the global bank balance sheet year on year what you will find is that's the thing. China has already started to print, the UK is starting to change and the European will be very soon. All we need is a turn, the rate change needs to turn and crypto turns. With is why ETH bottomed in June, it is been looking forwards saying the cycle is turning and I think it is right. I think the cycle is turning and it takes a while to play out. People call it crypto spring and spring is the time when it rains a lot, is cloudy a bit, and sunny a bit and that is exactly what the market is like right now.

It is just messy but it is not really going down either, so it doesn't get colder every day. I think we are in a crypto spring. I think that will happen relatively soon because things are getting pretty ugly out there. The adoption of technology is relentless, it is not driven by the capital markets. The capital markets mean more entrepreneurs take a shot. Nobody cares about if the hurdle rate is 6%, look at the hurdle rate in India. Look what India's interest rates are, they are about seven and a half percent. They have got many entrepreneurs, and the number of entrepreneurs in India is going exponentially.

It is is wield narrative that raising interest rates means that nobody does technology. Crypto right now is the fastest-growing technology the world has ever seen. It is twice the adoption speed of the internet in terms of the increase in the number of holders per year. It is faster than the number of users of the internet in terms of growth. This year will be a much flatter year but it was growing at an average of about 160% a year. So we have never seen this kind of technological adoption as fast as this. The interest rate doesn't stop that, it is only a change in interest rate it is the thing that stops it. If the rate of change goes to zero and it flattens out, high interest stays sticky, then the chances are we just get the trend rate of adoption of the technology over time which still gets a 100% of year rise.