As far as I can tell, bitcoin, having no intrinsic value, is priced entirely by vibes. Right now the vibes are generally negative. The latest bubble of interest has faded. I would wait, the world could become interested again but it may be 2 or 3 years. The bottom will probably be around 70k.
Yes this is absolutely true. Difficult to impossible, I would say.. my prediction of "2 to 3 years" could very well be totally wrong.
The dominant narrative around bitcoin right now is "hodl because in the long term it always goes up." Thats the core premise that the bitcoin price is based on. If that premise were to crack, bitcoin could drop to near zero for all we know.
