I think the elections and ETFs are the major factor pushing things back. I do think that the ETFs have changed things quite a bit so I am not sure if we will stick to the pattern as the hedgefunds like to manipulate prices. I do think that it will go up in the long run though.
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Well, for me I think the ETF makes things a little manipulatable, I'm not a fan, and I hope we don't get that much of a drawback with it when the bull market peaks.
Everything would be much cleaner if we were able to see all those ETF's BTC addresses with coins on them...
At this stage, it's just playing with numbers... I'm waiting for the moment when ETFs will own 22M BTCs... :D
Too few... Why not 220m BTC? Everything is possible with derivatives and fractional reserves.
Hehehehe... If BTC goes down 1K, they will add another 0 to the "millions" number... 🤣