What's the rationale for that? Looks completely crazy to me. Fundamentals are off the chart. And as I said, I think it's way off to use previous timelines as any kind of measuring stick for the future in bitcoin. Acceleration is everywhere in Bitcoin.
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Replying to @hodlonaut
the rationale is: 1) the past 2.5-3 cycles extrapolated further 2) a $100B asset moves slower than a $10B asset, more time for the bubble to pop, more time to get the money/attention for another bull from scratch
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Replying to @MustStopMurad
Point 2 is a valid argument. Thing is extrapolating past cycles doesn't account for difference in fringe movement of retail buyers compared to massive influx of institutional money.
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Replying to @hodlonaut
Institutions aren’t buying yet. Its still too crazy for them / no one wants career risk / custody risk, regs risk. The bolder among the institutions Institutions would rather buy below 5K imho, let this bear play out, let the weak get shaken out.
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Replying to @MustStopMurad
My initial argument was that things are moving faster. In every facet of the world, and in Bitcoin even more so. Every narrative plays out faster. Bullshit is being called out faster. Wokeness is increasing exponentially. I don't see room for this bear to 'play out' any longer.
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Replying to @hodlonaut
It takes some time for the wokeness to “ripple” through society (no pun intended).
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Replying to @MustStopMurad @hodlonaut
I like the chart in theory but I agree with hodlnaut. Network effect is exponential & sentiment can easily flip at the drop of a hat, for many reasons. Too many people already thinking 100K, the path of least resistance will be up long before 2023
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Replying to @devilninja777 @hodlonaut
it's actually not exponential but logarithmic. each subsequent 10x takes more time to achieve.
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I think it's rather parabolic, because the Y-axis is itself logarithmic :). This conversation is super interesting. I side with you Murad on this one, I see Bitcoin permeating society in a "rampant" way with each new cycle likely longer than the previous.
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Replying to @jleophodl @MustStopMurad and
Society is decades away from adopting Bitcoin as real money. And Bitcoin itself and its ecosystem are decades away from becoming mature and ready for society. We need to be patient and think long-term :)
2 replies 0 retweets 2 likes
I’d give it 12-18 years
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