Yep, time to tread lightly. I’ve been mostly out since last week but hold a bit of ethereum and GBTC that I bought the dip from. I do think we’ll test ATH again though…just need the nasdaq to confirm whatever pattern it’s trying to wrap up.
Bitcoin by nature (due to the cap of 21M coins) a deflationary currency. It’s designed to become more valuable as time passes and enrich its holders (ponzi 101). This is the exact opposite of what governments want in a currency. Controlled inflation forces holders to put their money to work in productive enterprise rather than stashing it under a mattress. Just like gold was confiscated in 1933 in the US and many other times throughout history, bitcoin will be banned by countries that (rightly) want to control their own currency, especially when the SHTF.
The man who claims he is actually Bitcoin inventor Satoshi Nakamoto (aka Craig Wright) won a lawsuit in Florida from a man who claims he was the coinventor.