Short term, the Fed is out to crush speculation. Bitcoin has been crushed. It’s risen from the ashes before as endless fodder on Twitter shows.
But Bitcoin’s entire life until recently has been in an environment of ever-increasing liquidity and QE.
Now we have tightening. That will reverse, but when? Meanwhile, the pool of eligible speculators keeps shrinking along with sentiment towards speculation.
Sentiment towards speculation is being obliterated and that will not reverse on a dime no matter what the alleged advantage of Bitcoin may be.
Add it all up and the message there will only be 14.7 million to 16.8 million is meaningless trivia.
This post originated at MishTalk.Com .
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