RE: My Take on BTC23 Jan 2021 21:52
I am still waiting for any coherent argument as to why bitcoin SPECIFICALLY will increase with inflation.
Lets try a new question, perhaps you will be able to answer this one. Why if bitcoin is a hedge against inflation did bitcoin fall significantly from its late 2017 high and take 4 years to reach that high again?
1st Bitcoin is limited , it’s supply and demand because supply is reduced and demand is up hence the increase in price. Basic law the more of something there is the less it’s worth.
Second even in btc 2017 it was only 8 years into to its creation that’s still in its infancy stages. So people are working on the cycles right now rather than thinking of the long term adoption of btc. The progress this year of big boys buying and places like PayPal ect adopting are massively boosting the price and will keep a sustained higher price. Btc in my opinion will actually clear well over the 100k mark this year.