So it seems Bitcoin set a new ‘high’ low at $40.5K. Even though we’re currently 38% lower than November, $40.5K is also a whopping 40% higher than the flash crash to $29K last May. That new, higher floor will not be missed by institutional investors.

Even if we see another dip tomorrow, next week or next month, given the pace of adoption, accceptance and real life utility that crypto has been seeing these past months, that new low is far higher than many expected and is reason to be bullish going forward. The key metric for acceptance of any asset class as a store of value is twofold: scarcity and desirability.

ALL securities have varying degrees of risk, but crypto has traditionally been seen as exhibiting far greater exposure to risk than Equities, Bonds, Commodities, Property or Cash. At the point when the new ‘low’ for BTC is a balmy 50K+, the psychological aspect of NOT owning BTC is going to see major institutional adoption. Particularly if (imho when) another country adopts BTC as legal tender and/or a ‘pure’ BTC ETF is finally approved by the SEC.

In other words, there is a LOT to look forward – even when we’re so far below the $69K we saw last November.