I don't post often, but have been part of this forum for 11 years. I'm looking for someone to provide a counter argument to these statements, which is where I believe we are going in the next ten years:
The approval of the Bitcoin ETF should be an absolute game changer in the sense that:
1. Most people buy ETF's for the long term; they are usually not looking for a quick profit buy/dump. They are a crucial component to many 401k programs where as we all know -- funds get bought and held for the long term. Obviously yes, at point of retirement, distributions are taken, but right now - there is much more buying going on than selling and this should continue slowly and steadily into the foreseeable future.
2. Couple this with the fact that around 88% of the total supply is already in circulation, how can we not continue to see a slow and steady growth in price as the scarcity issue gets larger and larger each day?
3. Approval of the ETF albeit even while that arsehole Gensler poo-pooed it gives it even more legitimacy to the consumer that was previously wary.
4. Exchange supply is extremely low right now, and the halving is right around the corner. Our current price may already reflect all of the points I am making, but again, as time goes by and supply remains limited, where else can we go but up up up?
5. I see $100,000 on the horizon but I see us reaching this slowly over the next 18 months.
What a great time to be a proud believer in Bitcoin.