Almost every little 'shithead' on youtube/twitter/tradingview keeps blabbering about 10K-14K bottom.
To me it says that it won't be THAT.
My preference (and it looks like the WO on average) is that the bottom was "already", but the whole cycle is messed up so much that it is difficult to be certain.
One thing is for sure: I believe in btc as a medium of exchange much more than the 'store of value' story at this point. It could change, though.
The fact that there will only ever be 21 million makes this pretty much a forgone conclusion that over time BTC is and will be a store of value
it could be,
eventually, but it does not feel this way if you consider the period since late 2017.
No value stored vs inflation whatsoever, objectively. A negative 20% (vs inflation) vs gold's +25% vs inflation, and I dislike gold.
imho, the involvement of financial institutions 'messed' bitcoin up, albeit maybe only temporarily.
If financial types could pledge bitcoin en masse (and they did), then the 'store of value' and "clean collateral" stories could be affected.
TL;DR a new 'story' for bitcoin is needed (or it could be the "old" story of the medium of exchange). The 'store of value' story is in deep hibernation for now.
but gold is subject to vast dilution of value with discovery of new deposits of it.
https://www.mining.com/web/uganda-says-exploration-results-show-it-has-31-million-tonnes-of-gold-ore/"Muyita said an estimated 320,158 tonnes of refined gold could be extracted from the 31 million tonnes of ore."
quote from link
If true that is more than the 205,000 mined ever see below.
https://www.gold.org/goldhub/data/how-much-goldand the 2016 estimate of gold mined and in the ground was "About 244,000 metric tons of gold has been discovered to date (187,000 metric tons historically produced plus current underground reserves of 57,000 metric tons). Most of that gold has come from just three countries: China, Australia, and South Africa. The United States ranked fourth in gold production in 2016."
google quote above,
so the 244,000 world total mined and not mined yet total to go to over 500,000
mined and not mined yet.
Which means about a 50% dilution of value for gold.
How about that find and a second find in Africa and the asteroid they are looking at all come true in under 20 years.
gold could move from a 244,000 grand total estimate to 1,000,000 total in the next ten years to twenty years.
I consider gold to have more risk than BTC or Silver.
Reason for silver is there is more of it so find a lot more is less likely.
1,600,000 tons of silver has been mine already. I am thinking finding 1,600,000 more tons of silver is less likely .
than finding 320,000 tons of gold (just been found) so I fear gold's staying power.
Do silver and BTC. But I am only talking about what I like to do.