Below you will see a prior article extracted partially here and shown verbatim along with an update since that time of publication. This is not financial advice nor any type of prediction on where Bitcoin may or may not trade today, a week from now, or years from now. These are observations, ideas, and analyses.
Here is a link to the entire article published here on this platform:
What Is Needed To Unleash The Next Mega Bull
Prior in italics, update in normal text.
1. Flush The System Of Grifter, Charlatan Scammers
SBF. Lingham. Samani. Cardano guy. And the many, many more. Still need a more destructive beat down by the market. Nothing personal, just necessary. More progress will happen when the ecosystem participants stop falling for the "Yeah Bitcoin is great, but here look at my shiny new token and how it is better" affinity scams and other tactics they use. They grift off of Bitcoin and impede overall progress.
Update: Making progress here. SBF is in the can and it is quite obvious multiple politicians are connected to this money laundering. Samani is getting sued in what may be just the tip of the iceberg considering Solana keeps crashing like the pile of trash it is.
Update to the Update: Samani blowing up other people's cash:
2. Accept What Ethereum Is And Is Not
Long past the time when the market needs to finally accept what Ethereum is and is not. They tried the DAO in 2017. Emperor Buterin turned back the clock and recreated history to bail out cronies. Now, the code hasn't been written yet for stakers to be able to unstake. Yup, sure is decentralized isn't it. Gone from the POW game now. In this piece titled "The Submerge" we highlighted the numerous structural issues with The Merge, much to the chagrin of the Ether fan boys. "Just wait until the xxxxx upgrade!!!!" How many more times will folks fall for this?
Update: Vitalik seems to be awful quiet on Twitter these days. Gensler is basically screaming from the rooftops that the only one that does not appear to be a security is Bitcoin. Google recently chose to give Tezos a real good look and that was after dabbling with Ethereum and Solana. New video below that is very useful:
3. Witness The Death of High Profile VC Cult Copycat Scam Chains
Solana. Cardano. Polygon. Ripple (seriously?). Polkadot. And the rest of them. Solana finally imploding might be the most effective shot fired if we had to choose one. Seeing SBF behind bars, though perhaps an emotional jolt to some, won't pave the way for clear skies ahead. All of these scam coins pumping VC bags are a major drag. The SEC is now reinforcing its message that regulation and enforcement is coming. It's only a matter of time before the next major hack or exploitation or meltdown like LUNA and FTX to set the whole market back again.
Update: In progress as we speak.
4. Turn The Tables On ESG Cult
Bitcoin will boil the oceans!!!!!!!!!!!!!!! Thank you for that gaslighting Senator Warren and Rep. Ocasio-Cortez. Now, let's see what the mature adults have to say. Bitcoin can turn environmentally harmful waste from energy production into value. Bitcoin can turn literal trash at a dump into value. Can you do that Senator Warren merely by tweeting out propaganda? We didn't think so.
When the masses realize and understand that not only is Bitcoin not harmful to the environment, but it is rather very helpful to the environment - this is a game changer. Just look at BlackRock now with its clients telling them they have had enough of the ESG Cult and forced "climate change" wokeness. Bitcoin is also Digital Energy.
Update: In progress here. Nice work here recently from Bitcoin Magazine on the ESG nonsense.
5. Real Wage Growth
See below. Hey, look at that. Ever since Biden took over, real wages have been negative in America. Kind of tough to throw a few bucks at some NFTs or a weekly deposit into a crypto account when the Average Joe in America is struggling just to keep up with inflation. GameFi for example, heavily relies on its projected participants having disposable income.
Update: No progress here other than CNBC cheerleaders doing their thing.
6. Market Emphatically Prices In No More Rate Hikes
Don't "have to" get the proverbial "Fed Pivot" or literal announcements of YCC (Yield Curve Control, which is coming) or QE or whatever new acronym they create. Just need the market, not the Ivory Tower geniuses, to tell us as investors no more hikes are coming - with emphasis. This removes the guillotine hanging above the "Risk On" trade and like it or not for a little while more BTC will be either Risk On or Risk Off.
Update: We would characterize this as a see-saw at the moment. In recent weeks more hawkish chatter has picked up regarding some sort of number for the 2YR to hit or FFR before the rate hikes stop, perhaps something around 6%. There are also plenty of participants in the "let's get this over with" camp expecting YCC and some of the things we have been consistently stating for years now. Perhaps there is a need to officially "be in a recession" to give the Fed the political cover, just as the Treasury's projections unravel along with a debt ceiling kabuki theatre performance from the heroes in DC.
Conclusion: Tracking. Not perfect, but grinding away towards a new frontier.