This time… might be… different???

Those words together in a sentence trigger PTSD from late 2021, but there has definitely been a shift in people’s mindset. It’s palpable.

In the past few weeks, Bitcoin price movement has clearly decoupled from that of stocks. Until recently, many in tradfi would consider bitcoin as a “leveraged NASDAQ” investment. By use of the key word there, prevailing wisdom was that bitcoin was a “Risk ON” asset. Just a riskier tech stocks play for investors/ gamblers.

With the failures of multiple banks recently though, the fragility of the TradFi system is on full display (AGAIN). This time, people seem to actually be paying attention. Distrust in government is very high currently. People actually seem to be a bit more aware of the unscrupulous bullshit of backstopping/ bailing out these banks, and the lack of useful reforms from 2008.

Recently, we’ve had the cascade of revelations about banking-level bullshit occurring at crypto exchanges. In the past, I feel like this would have caused people to sell crypto and withdraw back to fiat in banks.

But banks are fucked too! Where should money go!?!?

Instead, “this time,” people are actually withdrawing their bitcoin and Eth from exchanges in record numbers. People are actually doing the thing (finally) and taking custody of their assets! As intended!!!

I think the next year or so could be “fun.” Get the antacids ready. Liquidity on exchanges is low. This brings volatility in both directions. But I see a lot of support at btc 27k… next price movement up might be fast.

The price targets will be lofty. Insane things will be said. The FOMO will become tangible. I’m DCA-ing. I’m excited.