Taking a quick look at the market after some time away. #bitcoin funding rates look very high at the moment. Not great for the short-term bullish traders.
Anyway, Im heading back into Christmas activities.
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Percent of Profitable Days holding #bitcoin now at 93.8%.
Only the top buyers of 2021/22 would be underwater assuming they did a one time purchase and did not DCA.
Spoke to wealthy normie friends this weekend about #bitcoin. Can be split into two groups:
1. "I was going to buy at $15k, didn't, now it's already up loads"
2. "I got burned last cycle because of Bfolio/FTX/ Celcius. Not buying again"
All of them still sidelined. Incredible.
@theficouple Bitcoin is decentralized money.
It can be self-custodied and sent to others without relying on centralized counterparties, or brought with you globally, and is supply-capped unlike dollars.
When thinking of the value of these traits, think globally, not just in the US.
#Bitcoin is entering Belief / Denial zone. This is when 25-30% pullbacks can start appearing regularly. Make no mistake, the compulsion to sell will inflict itself on every holder.
However, onchain, we can see, based on metrics like illiquid supply/long-term holders etc, that…
I like the idea of regular people (not just those who are financially privileged) having access to information that encourages them to make their own financial decisions.
That's why I wanted to build Look Into Bitcoin and make it free / very affordable.
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