Of course when regulatory uncertainty ramps up... its not going to drive panic stricken altcoin holders towards bitcoin. When the overall outflow of stablecoins doesn't replenish over a period of time, anticipate the floor to fully bottom out. The drop to 10k appears to be gradual, but the 2K plummets or $4K drops in price means the casual volatility could have us testing 10k in a couple of weeks if not a couple of months. I've charted February as a courtesy.... but the downtrend has increased in angle and is approaching faster than anticipated.
The FTX scandal has left a poor impression on the world, and the perception of what crypto is... a lot of people who could have been attracted to market are otherwise discouraged. It just is what it is. SBF did what he did, got out on bail, an SEC chairman resigned ... and the dominoes haven't stopped falling. There isn't any new "retail trader" money entering market. We're going to crabwalk sideways until the riptide pulls us under... I don't see bitcoin as having any catalyst to price increase.
Usually there's some rumor of "mass adoption".... but we're not seeing it. There's nothing in the grape vine too boost a flat bitcoin. To some degree we have to thank Elon for deboosting the entire twitter platform. A lot of shill accounts got vaporized w/ all the bots he deleted. To some extent we could also attribute a weak bitcoin price due to the supression of platform users. Everybody has felt a significant decrease in their interactions on twitter.
It is noted that despite buying twitter for $44 billion ... nothing has been done to improve the "bitcoin" payments feature on the platform. It remains just a tipping feature. There have been no updates about the progress of the "nft marketplace", and or whether that marketplace would accept #bitcoin payments.
NFT Tweet Tiles:
The integration—NFT Tweet Tiles—works with four specific partners: Solana-centric marketplace Magic Eden, multi-platform NFT marketplace protocol Rarible, Flow blockchain creator Dapper Labs, and sports-centric platform Jump.trade. Its only available to select iOs users... only supports Ethereum NFT's... and no information exists on whether users will be able to make/take payments in $BTC
The FTX scandal has left a poor impression on the world, and the perception of what crypto is... a lot of people who could have been attracted to market are otherwise discouraged. It just is what it is. SBF did what he did, got out on bail, an SEC chairman resigned ... and the dominoes haven't stopped falling. There isn't any new "retail trader" money entering market. We're going to crabwalk sideways until the riptide pulls us under... I don't see bitcoin as having any catalyst to price increase.
Usually there's some rumor of "mass adoption".... but we're not seeing it. There's nothing in the grape vine too boost a flat bitcoin. To some degree we have to thank Elon for deboosting the entire twitter platform. A lot of shill accounts got vaporized w/ all the bots he deleted. To some extent we could also attribute a weak bitcoin price due to the supression of platform users. Everybody has felt a significant decrease in their interactions on twitter.
It is noted that despite buying twitter for $44 billion ... nothing has been done to improve the "bitcoin" payments feature on the platform. It remains just a tipping feature. There have been no updates about the progress of the "nft marketplace", and or whether that marketplace would accept #bitcoin payments.
NFT Tweet Tiles:
The integration—NFT Tweet Tiles—works with four specific partners: Solana-centric marketplace Magic Eden, multi-platform NFT marketplace protocol Rarible, Flow blockchain creator Dapper Labs, and sports-centric platform Jump.trade. Its only available to select iOs users... only supports Ethereum NFT's... and no information exists on whether users will be able to make/take payments in $BTC
Everyday above ground is a blessing we often take for granted... remember to go outside and touch grass.
- God Bless
- God Bless