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It is possible that Bitcoin (BTC) still has a use case, hedge against inflation. But this is not going to happen. The big funds know this is a volatile highly speculative asset and will never accepted it as such, leaving everything to be just for speculation. All the maximalists still blame bankers for everything on Reddit, Twitter, and other sources. It is very possible that all these self proclaimed Bitcoin maximalists are just tools and represent the same interests they accuse.
There is a growing scepticism on all those that used to be bankers at Goldman Sachs and the CEOs that find an interest all of the sudden, and asking for regulations. It is hilarious these are now laser eyed holders in Bitcoin (BTC).
It is sickening watching bankers getting away with murder with everything they did until and since 2008, and not one of the real criminals arrested or charged for the destruction of lives of millions.
But it is equally disgusting watching the same guys today making all these comical remarks on how Bitcoin (BTC) will dominate transactions with the Lightning network. The reason it won't is very simple, nobody needs the Lightning Network, it doesn't offer what Bitcoin used to offer, or what Bitcoin Cash and a few more blockchains still offer today.
BTC Is Not A Hedge To Anything
I do not wish or care to explain, others have done the same hundreds of time, it is very simple though, and the bitcoin maximalists are just creating fake impressions once again, and beguile the naive investors with their fancy words and quotes.
It is the same gang with the farcical fiasco of meme stocks and the Reddit group of so called investors that was supposedly fighting for the little guys but instead was serving the masters exactly as they wanted.
Not the same people but in the same frame of mind were luring oblivious retailers that got their hands on money they shouldn't hold or didn't deserve. This is the invisible hand of the market grabing from the poor minded that wonderously won the lottery but didn't know how to keep the money.
I don't accuse WallStreetBets, they did great to pump and dump stocks, although there are laws against this behaviour and the half-witted proposals and ideals were deceitful.
As we know them well the Bitcoin maximalists have now convinced funds and also have reached at heights that can be convincing with sudden price moves that create bullish sentiment even though there was none.
We have the scam, Tether, and most recently it was announced the SEC has subpoenaed Circle for the unrealist USDC minted. It is getting close to Tether and it is at a dangerour territory.
Finally
The use case for inflation is still fake for Bitcoin (BTC). It is supposed to has become a safe haven, and many now think that 1 million USD is not enough, of course aiming for that price as the ultimate, but probably the real collapse will be way before that.
It doesn't make sense to have a blockchain network running just to have 21 millions of coins as a hedge to inflation but the network being slow and asking for high fees. This is not how money works, and not what progress demands, this is retarding progress and innovation.
I'm going this once give the time when this parody bull run will definitely end, this is not right now though. The real crash begins with MtGox Rehabilitation Plan.
There was a proposal back in May and there is an deadline that will soon expire. It is about liquidating everything under the same Japanese Trustee, the guy that started selling back at 20k in 2017 and created havoc to whales. Whales this time are watching and will try to dump BTC before the trustee.
Anyway, nobody told you anything like that, but pay attention, in a few days we will have some news on the MtGox remaining 200,000 BTC and how they will be liquidated to pay those that bought in 2013.
There are also 200,000 BCH from MtGox at the same addresses. And these can also be liquidated along with 200,000 BTC. How will this liquidation affect the price of BCH? Perhaps less than it will affect the price of BTC, because BCH is less speculative than BTC. But still, at least in the short term, the price of BCH may crash also.