Going forward, the biggest challenge to the appreciation of #BTC and #ETH in USD terms could be the returns offered by productive assets. If you think the Fed is actually going to keep inflation in check - ie. at some reasonable rate between 0% and 3% or 4% - then capital will likely flow toward assets that offer a return like public equities, real estate...etc. This could be an environment like the 1980s and 1990s where growth was high and gold went down (see attached chart).
BTC community looks like it's going to have a harder time finding additional use cases that offer positive carry opportunities. It's possible, but the Ethereum ecosystem, given its smart contract capabilities, seems way better positioned to offer returns that can compete with other USD-denominated productive assets.
On the other hand, if you think the Fed is going to end up "inflating our debt away" then BTC could perform very well.
Endlessly conflating crypto with off-chain business based on crypt.
Have any publications written how these blowups haven’t cost tax payers a dime?
Could have seen the low in the S&P for a while. That inside-out reversal candle, which was subsequently confirmed, indicates the end of that nasty downtrend. Doesn't mean we're not in a bull. Just that downtrend was over.
web3 really is amazing. I missed the initial launch but was able to claim a lens handle because I bought a pooly. so cool.