"At what point does consistent demand override technical resistance?"
#Bitcoin moves unpredictable (to me 😉).
My take is we are setting up for a next phase.
In my mind the next phase will be the scarcity discovery.
It will be where too many want the real deal, as opposed to accepting paper Botcoin).
My take is it won't be a fun phase.
Probably a general loss in fiat currency trust will trigger that new demand as most people need a trigger to embrace Bitcoin.
The transition from current state where there is a balance between people who want to sell vs the demand wil not be smooth.
New supply from mining is very small (Strategy alone demands more than what is currently mined....).
If new demand will outdo supply price must go up.
That will collide with less people willing to accept paper Bitcoin, fewer people willing to sell, etc etc.
Current company demand is basically Microstrategy who owns the majority of Bitcoins owned by companies.
Goverment demand is basically none existing compared to available reserves etc.
More and more Bitcoin are taken of the market by strong hands while new issued Bitcoin only reduces every four years.
When the situations flips price moments will be huge.
I expect the most volatile period is ahead of us not behind us.
Yes there is a chance Bitcoin won't become the next world reserve currency...
But one of the few options to prevent that would be they stop abusing fiat (ever increasing debt / printing)......
CBDC could temporary save (since it will hide their abuse better at first) the fiat system.
But their new ways to control and steal from the population that CBDC provides them will be abused !
And that will be an even bigger trigger for people to embrace Bitcoin...
Think this over and place your bet !
Don't ask me what the breaking point will be.
I never thought they would be able to mass manipulate like they did with Covid, I don't understand why people still absorb current inflation numbers, I don't know why people still pay those insane and ever increasing taxes, I don't know why people except ever expending goverment that never delivers what they promise always eat away more freedom to even being unelected (EU).
That people don't go into the streets to fight I can understand (just barely), but Bitcoin is a non violent alternative..
Embrace it...
