RE: CPI 8.2%
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Even if the bottom is in, we will have a long sideways consolidation period. If they whole world economy is completely fucked as you say, what is going to drive the next bull market?
Too many projects in the space are in its infancy and mostly useless. Real growth comes from real world utility, we are getting there but I would say not quite yet.
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The next bull run comes from all these billionaires adopting Bitcoin realizing that Bitcoin is not a risk-on asset as they previously believed, but a sure thing that consistently increases exponentially in value every halving cycle. A 4-year investment is a very short time to wait for people this patient.
The market cap of Bitcoin is a drop in the bucket right now compared compared to legacy finance.
Any big player that wants to jump in will make a huge splash, no matter how crappy the rest of the economy is doing.
When people realize that USD and fiat can collapse, Bitcoin becomes much more attractive.
Even a banking collapse could spark a bull run.
There's a reason this message was imbedded into the first block:
Again, we are already in the bull market.
The only way we aren't is if we make a new low below $17500.
From what I'm seeing... I doubt it.