There is one major aspect that makes current phase very different from all the previous phases in the runup to the next halving, and that's a continuous progress of regulations taking place, allowing Bitcoin to be more accessible to all sorts of parties than ever before. Bitcoin's utility has never been this diverse, meaning that it allows itself to be used and utilized in so many ways, that we can't yet imagine how it will impact the longer term adoption, where Lightning Network is going to play a very crucial role. However, there is one but, and that's Bitcoin's current limitations that have proven to be an obstacle during intensive market times, where the bull run of last year functions as a perfect example.

In order to set that next step, it's crucial that Bitcoin does so with LN being utilized by at least 50% of the market, or at least 100% Segwit. I want a justified increase that allows people to move value back and forth without having to pay top fees during high intenstive market times, otherwise what's an increase worth if Bitcoin itself isn't ready for more adoption? That's why I find current levels to be a more than fair reflection of the situation, and thus not very low as some people think the current price is. If people feel the need to move value through altcoins instead of Bitcoin, then that's a sign that Bitcoin needs to step up its game. It's the hard reality. On-chain scalling isn't going to do it, then let it be off-chain. LN.