According to my analysis and reasoning from a few months ago, based on Bitcoin's accelerated price appreciation after the ETFs got approved, we were supposed to be way higher right now than we currently are. My expectations were demolished.
I was at that time envisioning a $100,000 BTC this summer, and my world would have been full of abundance had my predictions come true. Instead, the market is under heavy suppression, with most altcoins significantly lower than they were a few months ago when BTC was at the exact same level. To me personally, this translates into personal finance suppression as well.
Bitcoin has entered its fifth month of consolidation from its 2024 ATH and no one knows when the consolidation will be over. X is full of charts showing that we'll soon see a rebound, but so far, nothing significant has happened. $70,000 remains a strong resistance level, and we'll probably have to wait until Q3 (as with every halving year) for the market to resume its parabolic move.
I don't know where else to turn, so I'm waiting here for that to happen. I am no longer overly bullish but haven't slipped towards becoming a bear either. We're just a few months away from the halving after all, and that's a proven catalyst for parabolic runs. It takes time for the supply shock to kick in, though.
I was reading on Twitter earlier today that Russia is planning to give crypto (probably a handful of them, not the entire plethora) the same status as any other foreign currency in the world, and it's said that Putin has become somewhat of a crypto bull. I haven't seen anything official yet on this matter, so I'm taking it with a grain of salt.
It seems that El Salvador has already conducted trades with Russia using Bitcoin, and if that's true, then the current bull market will not only be a hell of a great one but also mark the point in time where Bitcoin is seriously getting recognition at a state level.
Trump and RFK have already made clear their pro-crypto stance, especially Bitcoin. That's not something to be overlooked. We've had Bitcoin ETFs live for a few months now, and that was a sign of recognition coming from Wall Street for Bitcoin as an asset class. Now we're talking about presidents discussing Bitcoin.
The whole world needs decentralized blockchain and cryptocurrency, and the whole world is blindly seeking it without even knowing. Just look at Venezuela and how Maduro rigged the elections to secure himself four more years in office. It's no longer just about money.
We need to integrate decentralized blockchains into all sorts of governance systems. It seems that the Thai government is about to airdrop its citizens $13 billion worth of digital cash, but they won't be doing it with non-KYC HIVE or Monero. Instead, they'll use the country's upcoming CBDCs.
You know my take on CBDCs already - I consider them digital slavery. We're at a crossroads right now, and whether BTC reaches $100,000 next month or not is irrelevant. Just being part of crypto-making history means so much. That's just my two cents...
Thanks for your attention,
Adrian