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The case for BTC, as that is what is under review here, has bifurcated outcomes in that real value (and therefore price over time) is dependent on many things, but centred on real use cases.
If liquidity continues to tighten, it is not the strongest aspect of an asset that will determine value and therefore price, but the weakest aspect.
The BTC maximalists have good arguments, I agree on that. However corporate power is significant and they will continue to seek presence in the crypto space and thus continue to challenge BTC. iow it is more than a one horse race in finding real use cases.
This is excluding government involvement, and at least in the West, corporate power can influence government thinking too.
Binance concerns, and the overall withdrawal of crypto, including BTC, from exchanges because of potential governance issues, should bring even more volatility to the crypto market.
MoWS did a good one this morning. The synopsis is:- the Fed wants to see DOWN in markets to control inflation, and that would include crypto too. Are crypto nerds in a mood to "Fight the Fed" while Sam Bankrupt Fraud issue is ongoing?
i.e. no change in outlook. already sounding like a broken record, but being right is more important than sounding boring :-)
