hehe, this be true and wise. But it happen to be embedded within the quote I was replying to, and so, it had some relevance.
You can edit embedded quotes.
Just Say No, to r0ach. He struggles for relevance, quoting helps that.
Certainly, but what intrigued me most was JayJuanGee's comment:
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No matter how you slice the situation, there are both a lot of people and a lot of money that can still enter into bitcoin, whether $7k or even at much higher prices, and therefore bitcoin, as a market, is not close to being either saturated or mature.
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There seem many here willing to post all sorts of explanations for the current bull run, any of which is plausible, but unprovable, except to realize that not all have entered into buying any bitcoin. In my opinion, this reason is enough to explain every bull run.
Personally, I don't get too animated by any single theory explanations for BTC's price performance.
Surely, BTC development and adoption has increased in the past 7 years, and during that time, and we have had two or three (if you count 2013 as two) bull runs in those past 7 years. BTC's adoption seems to be coming along slow, in terms of total number of people getting involved, yet it is still becoming much more popular, including way more avenues of liquidity through exchanges, ATMs, merchants (not so much on this count) and otherwise. One area of development that still seems to be in its early stages is financialization, and surely more financial tools are coming available, and financial institutions are increasingly studying the bitcoin space and proposing various kinds of bitcoin financial products that they are considering to offer, so even though financialization seems like a double edged sword, it also seem like the direction that an accepted asset grows, and bitcoin does seem to be headed in that direction....
Back in 2011 I could keep up with every new development surrounding bitcoin, but today, I certainly cannot. That it gets absorbed by all sorts of financial instruments was inevitable, and for the most part a good thing.
What I mean by double edged sword is that there are likely going to be various means to manipulate Bitcoin's price up and down, but it seems that through increasing awareness and legitimacy that will come through increased financialization, and through the robustness of bitcoin's code, bitcoin is going to likely survive through these likely upcoming turmoil periods.... Don't get me wrong, I am not arguing that bitcoin needs financialization, but I am asserting that financialization seems to be an inevitable direction for BTC whether incumbent BTC HODLers want the double edged sword aspects such increasing financialization or not.
I have also recently noticed this double edged sword of it being absorbed by the institutions. I can see how some have tried to absorb it for the purpose of price manipulation, but eventually those games hit a wall, the wall of its hard limit of supply. This is a property that has never existed in any other asset, its closest example may be gold.
Its this limit of supply that works to eventually counter any price manipulation games.