Everything has been lining up perfectly for Bitcoin, but will it be able to finally take its seat at the table of dominance, or fumble the opportunity?
One could argue that this current Bitcoin cycle is the most important in the history of BTC up until this point. It very well could end up deciding if Bitcoin absolutely takes over the financial market and world, or simply fades away into being an investible asset, nowhere near its true potential.
It's easy to forget just how dire this market was looking just over 2 years ago.
We were coming fresh off the SBF and FTX fraud scandal, one of the largest financial frauds in the history of finance. There seemed to be an endless supply of companies that were going bankrupt. If that wasn’t enough, the Biden administration, led by Elizabeth Warren and Gary Gensler, had appeared to make crypto enemy number one. Finally, Chokepoint 2.0 had taken place, with these politicians hoping to suffocate the crypto market.
There were real worries that the death blow had been dealt to the cryptocurrency market and that it would never be able to recover.
But then the shot heard around the world took place.
When BlackRock applied for a spot Bitcoin ETF, it changed everything. Arguably, the most powerful company in the world had entered Bitcoin, and it signaled to everyone else that Bitcoin was here to stay.
Since then, the ETFs were approved, countless Bitcoin treasury companies have been created, and the Trump administration is going all-in on Bitcoin. Corporation and Nation-State game theory for Bitcoin appears to be just taking off. Just a few years ago, just one of these bullish options would have been considered impossible, yet all of these events occurring at the same time could set up the ultimate bull scenario for Bitcoin.
This is why analysts have been predicting a potential BTC price of $500k, and there are several calling for a price of over $1 million within a few years.
Everything does appear to be lining up perfectly for Bitcoin, but never forget that nothing is guaranteed in this market.
What if Bitcoin disappoints with all of these bullish scenarios?
As much as we like to ignore this possibility as Bitcoiners, the truth is that its future isn’t certain. I’m of the opinion that years from now, it will either be worth millions per coin or zero. There won’t be anything in between.
So, for the sake of this article, let's consider the possibility that Bitcoin disappoints this cycle. What would that do to the mindset of Bitcoiners, and would it prove to be a result that Bitcoin couldn’t recover from?
I truly believe we are reaching a “now or never” type of moment for Bitcoin.
If it can’t take its place at the top of the food chain when company treasuries are investing billions into it, while nation-state FOMO is just kicking off, when Wall Street is finally entering the game, and while the most recent BTC halving took place. This would prove to be very bearish.
Everything bullish we could have possibly dreamed for Bitcoin’s future is currently taking place. This is the moment where it needs to solidify its dominance and also skyrocket in price. IF not now, when?
The harsh reality is that if Bitcoin delivers below expectations, we will all need to have some difficult discussions about its future.
Perhaps we got too far ahead of ourselves about what is possible for Bitcoin in the short term. Therefore, we need to take a much longer-term approach with it.
Or maybe, we will need to begin having the discussion that Bitcoin has become a disappointment and will never deliver on those expectations.
With all of that said, I have never been more bullish on BTC. So far this cycle, we have reached a high price of over $120k, and there is still so much room to grow. Taking into account all of the bullish factors surrounding it, it's hard not to believe that Bitcoin’s time is now. However, it is always fun to think about all possible outcomes.
How about you? Do you think Bitcoin’s time is now or never?
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As always, thank you for reading!
