Pepper Brooks said:
Generally speaking, the BTC/USD pricing cycles have driven crypto bull markets in the past. Look at the charts in Q3 2020 through the beginning of 2022 and rises and falls in the ****coin are likely very correlated to the rises and falls in BTC. That said, have you done that analysis in the following way? If so, what is your conclusion?
What would the price of BTC likely need to be to see $800 per coin?
If the price gets to $800 per coin, how much BTC could you reasonably expect to buy at the forecasted price if you did a swap?
Is it more or less BTC than if you were 100% Bitcoin from the day you first invested in adacoin, after factoring in taxes?
Excellent queries.
1. How much BTC do you believe needs to be owned by 2030 to fall into the 1% ? The narrative and players have changed with BlackRock and Fidelity filing for BTC spot ETFs and other institutions doingthe same.
2. I expect some alts to decouple from BTC after the upcoming bull cycle due to utility and adoption.
3. Yes, BTC's tide lifts all boats. However, the overwhelming majority of the space is currently stagnant with the exception of a few alts. Example: MILk and Iagon
Why? Both have been around for a couple of years and have kept developing through good and bad times. The teams are key as is their intentions. I leave it to you to research MILK and Iagon or this would take me all night.
3. I don't like charts generally. Imo, they are revisionist and self fulfilling indicators.
4. I believe BTC can reach $250k by Nov 2025 and would wager on $150k being the low end. My thoughts on the $800 per coin (assuming you mean MILK) are based on BTC being at $70k-$90k and market shifts*. I don't think the same leaders will remain on top. Imo, MILK is superior to Pancakeswap but Cake has a year head start advantage and on Binance. I should have used the largest Dex which is Ethereum based Uniswap because I honestly believe they will lose a large chunk of market share. Lots of investors, VCs, and companies, are in Eth as they were the first mover. Times have changed and folks are realizing that ETH is severely limited to other ecosystems. They are reliant on L2s for survival as opposed to L2s being symbiotic.
* market shifts - I think that we shall see triple the overall crypto market cap this cycle. That amount of new funds will carry known tokens to crazy new highs with volume alone. People will be more knowledgeable and will want to park their money in the tokens with the best tech and security. People looking for value amongst the best tech will migrate to new tokens.
I have BTC and keep buying it. I am likely already in the 1% depending on how the 1% iis calculated. I simply don't discuss BTC.
The amount of ADA I have is irrelevant when considering how much BTC I would own had the funds been allocated differently. I believe ADA to be the quarters, nickels, and dimes, to BTC being an ounce of Gold.
Just my opinions and gut. Good luck.
Edited to add: clarification - I don't see Cardano being in the currency battle per se, I see it being the ecosystem that is used to build on. My reference to coins and ADA was a poor choice but used to offer a distinction from BTC.