Disclosure: my positions in Bitcoin now stand at AUD 59K
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New coin issues have dried up slowing the depreciation of all crypto save Bitcoin and inflation has risen. I think this is the biggest drivers, not the expectation governments will issue more coin, which will be adverse to other cryptos for the same reason the 100s of crypto currencies already issued supressed bitcoins rise for quite a while. Likewise, it seems pretty clear no one ever intends to use cryptos for much else than hording, speculation, and shuffling money around. The fact that banks are going to create a regulatory infrastructure that will potentially not make them much more free than cash. That is also negative.
Anyways we will see what will happen especially when more is no longer being made and they figure out who's going to pay the massive electric bill for transaction costs. There is not a well though out plan for this transition.
New coin issues have dried up slowing the depreciation of all crypto save Bitcoin and inflation has risen. I think this is the biggest drivers, not the expectation governments will issue more coin, which will be adverse to other cryptos for the same reason the 100s of crypto currencies already issued supressed bitcoins rise for quite a while. Likewise, it seems pretty clear no one ever intends to use cryptos for much else than hording, speculation, and shuffling money around. The fact that banks are going to create a regulatory infrastructure that will potentially not make them much more free than cash. That is also negative.
Anyways we will see what will happen especially when more is no longer being made and they figure out who's going to pay the massive electric bill for transaction costs. There is not a well though out plan for this transition.