Bitcoin is just trying to mimic gold as an asset that cannot be manufactured like fiat ccy. It has no backing besides the ‘out of CB hands’ and can float through banking regulations whether sovereign or global. Classic choice for those trying to evade tax, launder or just plain covering tracks of ill gotten wealth. If a metal such as gold went on an expo rally then come crashing back down and still very much down after 7 years, I suspect the sell off of BTC has a long way to go before it can recover if it can!
The only asset of BTC is the blockchain model and we are already seeing a few enhancement in other crypto. A very useless entity that is eating up coal energy source for basically producing nothing but a utopian idea.
Bye bye crypto. Soon they will market the color to its poor cousin Silver.
