what's your future expectation and why?

(http://www.autoadmit.com/thread.php?thread_id=4613374&forum_id=2#40830371)

rationale is simple: demand for crypto has been ratcheting up over time with each bubble. after each bust, the price of BTC (and other cryptos) finds an equilibrium price that is much higher than what prevailed prior to the bubble. for example, prior to the massive pump in 2017, BTC's price was around $1000. after the bubble burst, the price fell to what felt at the time like a catastrophic low of $3500--3.5x the price that prevailed just 2 years before. this is a continuation of a pattern that has occurred at least 3x before.

of course, that begs the question: why would demand for crypto rise over time. this is where most normies and even some very smart investors make a crucial mistake, because they cannot imagine demand for crypto rising over time. they think "dur hur fake money go to zero" and pat themselves on the back during the crashes while having forgone 100x returns.

crypto demand comes from several places:

1) speculative demand, which is to say crypto has value simply because it is an instrument of gambling. lots of assets have speculative demand (e.g. TSLA stock). volatile, lottery-like assets tend to be persistently overpriced because of it. the gambling industry is huge, which is why casinos, horse tracks, robinhood, lotteries, etc. experience in aggregate of hundreds of billions of dollars in flows every year. it is undeniable that crypto has accrued tremendous and durable value simply due to the number of gamblers/speculators entering the ecosystem.

2) ideology. crypto appeals to people who are ideologically opposed to government control and value their privacy. prior to BTC, most of these people--many are kooks--tended to hoard gold, guns, and ammo. now some own BTC.

3) utility. crypto is now liquid enough that you can store and transmit large amounts of value across borders, regardless of government regulations. there is a lot of demand for illicit money and crypto's utility for these purposes has gone up over time because it's now mixed in with "legitimate" speculative activity. five years ago, you'd have trouble cashing out $1m BTC in thailand or whatever due to lack of liquidity/fiat off-ramps; now you can do that fairly easily.

the # of people willing to seriously consider crypto as a legitimate asset to own--even if for gambling purposes--is going up over time as boomers die and young people who have been raised with BTC start to earn more money. also, the longer crypto sticks around, the more liquid it becomes, the more people who were previously resistant will consider it to be a "legitimate" asset to own, which is what we've seen in xo. five years ago, few owned BTC. now many own something.

of course, the processes driving crypto's value upward will eventually find an equilibrium. but given how little penetration and the stench of illegitimacy crypto has, we are likely a long way off.

(http://www.autoadmit.com/thread.php?thread_id=4613374&forum_id=2#40830905)

crypto *does* deserve its stench of illegitimacy

(http://www.autoadmit.com/thread.php?thread_id=4613374&forum_id=2#40831225)

no, they should be simple enough to state but backed up by in-depth reasoning. yours is on par with a first-year analyst at any of those hedge funds you look down on.

i failed to make money because BTC 4x'd from my entry point, while i was attempting to make 100x gains.

(http://www.autoadmit.com/thread.php?thread_id=4613374&forum_id=2#40831275)

I like how this was viewed as "crazy" a few years ago.

Haha yeah, "trillions of dollars," I mean holy shit, that's unfathomable wealth -- money printers just don't just, like, print that sort of money, retard!

(http://www.autoadmit.com/thread.php?thread_id=4613374&forum_id=2#46935732)

(http://www.autoadmit.com/thread.php?thread_id=4613374&forum_id=2#43284516)

I remember it was something like BTC, ETH, XTZ,

(http://www.autoadmit.com/thread.php?thread_id=4613374&forum_id=2#40832593)