I don’t know for certain but the amount of retail investing on vibes around AI companies and metals feels just like the crypto peaks. Just the other day Marvell jumped on the words of Jensen Huang and metal ETFs randomly lost tons of investment earlier this year.
Without a lot of the guardrails of the US regulatory apparatus that has been gutted by the current administration, the market is riff with manipulation. Truly another gilded age.
[0]https://www.penguinrandomhouse.com/books/634502/the-almighty...
Stocks are feeling more and more like this also.
And because Bitcoin is now old enough that most people understand what it is, the hype has vanished, it won't survive the global fear or losing it all.
Related: https://www.bitcoinisdead.org/
It's still a store of value.. I guess?
I have sweatshirts that are older than Bitcoin, brother.
It fits my needs perfectly except for one critical issue --- it won't clean up food dropped on the floor.
Bitcoin is imaginary money. It works perfectly except for one critical issue --- it's not very good for purchasing stuff.
Bitcoin has about the same value as my imaginary dog.
Your imaginary dog can’t teleport value across the globe instantly, but Bitcoin can.
"Someone can instantly and permanently steal your beloved dog and you'll never see it again" is a downside.
It's true that your imaginary dog, like Bitcoin, has no good legal use; but your imaginary dog is harmless. Bitcoin is not.
Truly amazing that the tech elite have replicated everything wrong with the existing financial system while not managing to get any of the actual good, useful parts.