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In this video, I discuss why Bitcoin has been in a choppy sideways trading range for much of the past 12 months.
For context, I discuss Amazon stock's lost decade from 2000 to 2010, where the stock went nowhere. An investor focused on the fundamentals still would have held the stock, if he understood Amazon's network effects, the genius of Bezos, the exponential growth of AWS, etc.
Similarly, the value prop of Bitcoin has not changed. It is money that cannot be debased or censored-- and as such, it is the most valuable asset in the world. The market has not yet discovered this, and remains focused on Bitcoin's correlation to stocks and dependence on Fed policy.
At some point, Bitcoin breaks free from its current correlations and becomes properly priced as the global reserve asset that it is.
Not investment advice! Consult a financial advisor.
2010 article on Amazon:
https://fortune.com/2010/10/22/the-amazing-amazon-stock-bubble/
Bitcoin's demand curve:
https://twitter.com/TimmerFidelity/status/1494432559807270924/photo/1
Fed funds rate chart:
https://fred.stlouisfed.org/series/FEDFUNDS
Historical Bitcoin prices for March 15:
https://twitter.com/btchistorical/status/1503687621188403204
I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos.
My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.
#Bitcoin
#Cryptocurrency
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