I understand most of those here are probably bullish on the coin. However I hate seeing market watch set a narrative regarding inflation and how it’s likely to not materialize. What I have seen over the last year has been a strong bull market in agriculture commodities. These appears to be the result of 2021 being one of the hardest for North American farmers in terms of the very dry land and the Ogallala being pumped dry. A water shortage induced inflation appears to be materializing. Now to give people reference this is like seeing a depression forming off the coast of Africa. It could become a Cat 5 that destroys a lot or never reach land. However, it does appear to be a perfect storm of events for inflation. Food supply constraints the year after massive money supply growth still being maintained. And the reason why this is a perfect storm is inflation doesn’t need to rise far to push interest rates to a point of creating large declines in the stock market given our priced for perfection shiller price to earnings in the mid thirties. Only last seen during the tech bubble. I also recognize the relationship between stocks and bitcoin but inflation induced rate rise leading to a stock market sell off will likely push funds to cryptos from stocks. Not to mention we now have an easy on ramp to bitcoin via Venmo so the barrier to mass use just got lower. So we don’t just have the inflation tail wind but seemingly plenty of monetary firepower to make this bitcoin bull market one of the sharpest and largest on record. Please someone correct me. I like to be challenged and hear other perspectives. I believe this is true insight. The ability to hear others thoughts. However, I see this coming together and it’s making me more bullish than ever on bitcoin.
Ogallala Acquirer 5 years ago: https://youtu.be/7CxA8PeDhIc
Current North American farm situation: https://youtu.be/7CxA8PeDhIc
Agriculture Commodities trading at 10 year highs: https://m.investing.com/commodities/
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