Bitcoin has faced a plethora of adversaries over the years and here it is, a hop skip and a jump from new all time highs
The bitcoin-badger simply doesn't care.
From China banning it, to China not banning, to China banning it again. From Russia banning it. To India banning it, then not banning it?
From legendary investors and CEOs of the largest banks that have ever existed calling it a scam, a fraud, a ponzi scheme.
From Treasury Secretaries saying it won't be around 10 years from now to the president of the united states (POTUS) saying he is not a fan.
From exchange failures to exchange hacks to tunes of billions of dollars.
From a massive tether scandal that may or may not have been real.
From fears surrounding miner capitulaion or a death spiral.
From a global pandemic that has sent just about everyone home without any certainty of when things will return to normal.
Add all of that up over the years and here we are, not far from yearly highs and then not that far off from the all time highs.
In fact, bitcoin has been lower than it is right now 3960 days out of a possible 4203 since it was created...
Which is equal to roughly 94% for those doing the math:
(Source:
)https://twitter.com/RiverFinancial/status/1280933450875363328
- RiverFinancial
Talk about climbing a wall of worry!
The only difference with bitcoin vs. the traditional "wall of worry" phrase as it relates to stocks is that none of these were existential threats to stocks.
Many of these were potentially existential threats to bitcoin.
However, the longer that bitcoin survives the stronger it has become.
What was once possible to kill early on is now basically impossible to kill.
Sure it can be severely harmed should a couple of the largest countries get together and decide they want to regulate it to death and/or ban it... but that wouldn't kill it.
The miners would simply move to other jurisdictions as would it's biggest fans and the party would go on.
Look how well banning gold ownership worked, or how well banning drugs as worked.
Hint:
It didn't...
Bitcoin has taken it all on the chin and continued to process billions worth of transactions every single day.
(Source: https://www.coindesk.com/introducing-the-coindesk-20)
There's never been anything else like it and it couldn't have come about at a better time with countries around the world literally incentivized to debase their currency...
Bitcoin looks mighty attractive by comparison with that finite and limited supply.
The bitcoin-badger has survived come this far and it mostly likely is just going to keep going.
Stay informed my friends.
Image Source:
https://twitter.com/100trillionUSD/status/1280928298382565377
- 100trillionUSD
-Doc