Hello everyone, I wanted to share a few thoughts. I see that the majority of people are going long on BTC and that the funding fees are costing people BTC to maintain the long. On the depth chart zoomed all the way out for coinbase pro, 60 million USD market buy (approximation) would create a price of 14K USD/BTC. This would know the index or basket price of BTC far and quickly upwards on many leveraged exchanges. To me this simply means 2 things, Firstly: people think it is a costly privilege to go long on BTC right now and for several weeks. 2nd: This could cause a temporary market where shorting is a profit low odds gamble.
My second thought is that people are trading goods for BTC. I buy silver coins for BTC and do not care of the BTC price at the time so much as the fact that I have earned it and take my pay in that form currently so that I may have a physical payment. This creates mining revenue. Mining revenue (hint) has been able to direct the price of BTC via buying and selling of BTC from the miners. They have cost and they pay how they can best pay, so this is what happens when they make or loose more, they sell or hold more.
This chart: https://www.blockchain.com/charts/miners-revenue : describes the future price direction because it is like an other (priced to create vs demand) asset.
Check how the mining fees are the support of any dump or rally.
My third thought is that the compound interest paying functional asset coins generate a passive revenue and the development of them in use cases is essential for price gains via demand via need. I also think that this will tell the winners of the top 10 this year due to need for computer applications. Then I believe that the mining fees and difficulty adjustment of BTC mining will create not a massive worldwide adoption but a reserve currency of most liquid and satisfying transactions. The mining fees can overcome the lack of mass adoption because the use case is far greater than the need for a coffee.
Well in summation, upward buying pressure for BTC even though we have a dollar buying spree, gold and silver do not fit the modern needs of money transfer. This will show some resolution for all the buildings and machines and people and work put into this, and now I leave you with a quote.
"There’s an urban legend that Albert Einstein once said compounding [interest] is the most powerful force in the universe."
