This cycle is NOT the same, this bullrun is not FOMO...there will be no 80% correction

Everyone is waiting for the FOMO. It’s not going to be like 2016. The big boys have come to play. They don’t FOMO. They dominate. The positions they take will be colonial. They have long time horizons and they are not buying bitcoin with paychecks. This bull run will cause suicides.

When dumbass traders realize what they had in their hands that they sold for a measly 2-3x. Working class wholecoins will start to be few and far between. Because buying a whole coin will require you to sell your house. This next 4 years is not just “the next cycle” it’s the next phase.

Where governments will have to respond. Where criminals are going to step up their game. Where publicly declaring that you have a whole bitcoin could be dangerous to you and you’re family. This bull run is not going to be a retail FOMO extravaganza.

This bull run is the beginning of the fall of fiat. This bull run will cement Satoshi’s white paper as one of the most important documents in human history.

There will be no 80% correction. There will be no fall from $300,000 to 50k. Grayscale is not a weak hand. MicroStrategy is not a weak hand. Fidelity is not a weak hand.

The institutions that are buying bitcoin couldn’t give a shit about “when Lambo”. They get lambos for free. They control governments. People expect that hyperbitcoinization will occur with government adoption. The companies that are and will buy in the next year, are the ones that have governments in their pockets.

They will be no 80% correction.

Source and credit: https://twitter.com/AnthonyDessauer/status/1328552929083621377

Also, read this great an more detailed article from yesterday on Forbes:

Wondering What Bitcoin Will Do Next? Look At These 5 Indicators

https://www.forbes.com/sites/leeorshimron/2020/11/17/wondering-what-bitcoin-will-do-next-look-at-these-5-indicators/

Edit: Adding these good points by u/gunshotaftermath

1. Most of the new buyers are institutional, including major funds, as well as of course the big players we've been hearing about in the past three months (microstrategy, greyscale at $10 billion, etc), and many of the new funds are looking at 5+ year plays
2. Fiat is a lot more uncertain right now, with both US and Canada printing their way out of this recession. A trillion doars printed in a month is not normal.
3. Google searches for Bitcoin is only at 10% of what it was in 2017, suggesting most retail buyers this time around are more experienced and less skittish.
4. Major institutions have been emerging in the past few months. PayPal would be the largest international bank by user count, Coinbase has a Bitcoin debit/Visa card coming to the US, Square, and now two Crypto banks have emerged in Wyoming.

Submitted November 18, 2020 at 10:03PM by simplelifestyle https://ift.tt/35FG52k