snip~
The fundamentals are not good for btc
Ask yourself this question:
Why would you pay 18000 USD ( a car, food for a year for some, food for 10 years for some ) on 1 virtual coin ( number in your phone or laptop )? That does nothing if you leave it in your wallet The crop on btc was collected at 60k now it has no more apples, the apple tree is dying...
I know such an analogy, from a logical point of view, of course there will be no result if we just keep it in the wallet. But please what if you look at it from an investor's point of view? they know when to hold on to long-term interests. Bitcoin hasn't just dropped once and we've been through that season year after year. There's no need to compare it to buying a car and buying food for a year. Because the portion of need already has its share before we drop money in Bitcoin. Simply put, do you believe in the future that ATH will exceed $70K?
I don't think it will go above 70k ... here is why :
I am trying to start a biz and I am doing simulations / biz plans for different sectors ,they are all failing
- in production I have problems with packaging,energy,supply chains and no space
- in services people avoid services that they don't "need" now
- in commerce I have problem with supply chains , long distance transport and so on
- in e-commerce people don't want to pay transportation cost no more,they prefer local ,also asian prices now similar to west
- also I noticed that people are no longer hiring foreigners, which means the world is trying to localize.
- also climate change is increasing energy prices a lot.
It means no matter where you try to go,no matter what country you go,you will face similar problems,there is no more USA land of the free and Wester Europe that saves the poor ,now it's everybody for himself.
That means people will no longer need BTC for a period to send money abroad,those who will use it ,are gamblers and speculators ...that why I think it will drop.