Quote from: tomahawk9 on May 19, 2022, 02:34:36 PM

we were led to believe bitcoin was the best "safe haven" in times of economical uncertainty (like the current US recession) and war that eventually hit the world economy (russia-ukraine) because the market was yet to experience something of that magnitude, in a way we were gullible (?) and it was easy for some people to convince others that btc was going to go to the moon during a financial crisis, so the grand majority of the market set high expectations around btc if such turbulent events were to occur. Now we're going through those terrible events and it's ugly and obviously we weren't prepared to the punch in the face (financial crisis and a btc crash). Maybe those things about "btc safe haven" were true before the big investment firms, bankers and wall street entered the crypto market, but that ship sailed a long time ago and the btc price now mirrors traditional markets which are currently on a downtrend and you can be sure (sadly) that btc will follow that trend

That sucks real bad because it ties Bitcoin to the existing financial system (something that it was meant to avoid in the first place). How can Bitcoin become an alternative to Fiat if its price moves in relation to the stock market? That's what happens when big players (wall street, institutional investors) are in play. In the early years of Bitcoin, things were a lot different than what they are right now. People used to believe in BTC as a currency, not as an investment or speculative instrument. But greed took over, so BTC's price will be subject to heavy manipulation by whales and the likes.

Let's see what'll happen within the next 2-3 years as the world's economic situation continues to deteriorate. The more countries adopt Bitcoin as legal tender, the higher the demand for the cryptocurrency will be. Hopefully, BTC will become much more valuable in the future with every block reward halving. Who knows if we become the next Bitcoin millionaires? Just my opinion