BTC failed to live up to it's own prophecy by not doubling from the last height of ca. 69420 to at least 140k in 2025. There was a last chance in October of last year, where it seemed to get close but ultimately it just didn't find enough buyers. Now with the narrative broken (bitcoin always goes up over the long term) one sell off will lead to the next as more and more people lose trust.
That isn’t something you can categorically say for sure though. If it hits 125k next month then Bitcoin does go up over the long term. Same if it hits 125k next year.
Wrong. The problem with bitcoin is its volatility itself. If it doubled in value, that means its undergoing hyper deflation, which makes it a terrible store of value.
Bitcoin's proponents are its own biggest liability. People who see it as a speculative asset rather than a currency that needs to be a stable store of value. It, like all currency, has no ingerent value and its stupid to speculate on it
I still find it interesting that the pump and dump still works - it's the same cycle over and over again of building the market to dump crap onto people. I bet some folks have so much crap they've been dumping it gradually just so the market can absorb it.
and it has proven to not be a great hedge against inflation (lately, short term)
the digital gold narrative falls apart when non-digital gold outperforms it and nobody wants it for its digital properties (payments, blockchain, etc.)
