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1/n- I have been saying for 3 years now.
Bitcoin benefits from liquidity, just like any other asset, and that while bitcoin was uncorrelated to traditional assets, it& #39;s performance was correlated to overall levels of global liquidity.
It& #39;s primarily Risk On, High Beta.
$BTC
Bitcoin benefits from liquidity, just like any other asset, and that while bitcoin was uncorrelated to traditional assets, it& #39;s performance was correlated to overall levels of global liquidity.
It& #39;s primarily Risk On, High Beta.
$BTC
2/n- The romantic narrative has been talking about how Bitcoin is an incredible hedge when the time comes, and all this was during one of the greatest bull markets in history for traditional assets.
The time came & the response was not there. Bitcoin has a LONG way to go.
$BTC
The time came & the response was not there. Bitcoin has a LONG way to go.
$BTC
3/n- If you are listening to current crypto fund managers for opinions on BTC, you are listening to someone who& #39;s job it is to give you slanted opinion, their survival and relevance relies on it.
$BTC
$BTC
4/n- The likely reasons crypto was majorly uncorrelated to traditional assets to begin with:
-Too small to even matter
-Detachment & Friction, i.e. No sharing of platforms with traditional financial products, and therefore an inability to flow conveniently between.
$BTC
-Too small to even matter
-Detachment & Friction, i.e. No sharing of platforms with traditional financial products, and therefore an inability to flow conveniently between.
$BTC
5/n- What is all this getting at?
Anyone who thinks that Bitcoin is just going to do an about-face after showing its hand in a time of crisis is still at the whim of too many cognitive biases to name.
The dollar is going to suck up liquidity, Gold as well.
Anyone who thinks that Bitcoin is just going to do an about-face after showing its hand in a time of crisis is still at the whim of too many cognitive biases to name.
The dollar is going to suck up liquidity, Gold as well.
