Is Bitcoin a Bubble 📉 Crash or Next Big Run

Crypto Robot

Is Bitcoin a bubble, or is it the future of money? In this video, we take a deep dive into the ongoing debate around whether Bitcoin is a bubble ready to burst, or whether it’s a revolutionary asset that continues to grow despite volatility.  We’ll explore Bitcoin’s price history, market cycles, and comparisons to historic bubbles like the dot-com era. You’ll also learn why many analysts argue Bitcoin’s decentralized nature, adoption curve, and limited supply make it completely different from past financial bubbles. This is your complete guide to understanding if Bitcoin is a bubble or a long-term investment opportunity.  👉 Subscribe for daily alpha on crypto market trends, bold Bitcoin predictions, and altcoin gems that could 10x your portfolio! – https://www.youtube.com/channel/UCpjN8bNE-CoAgpfMatghM9g  📧 Email: cryptorobothelp@gmail.com  💰 Affiliate Links  Sofi Checking & Savings – Get $25 free ➝ https://www.sofi.com/invite/money?gcp=16a53d0f-b4b2-441d-9100-cfb506305260&isAliasGcp=false  Sofi Investing – Free $25 in stock ➝ https://www.sofi.com/invite/invest?gcp=ab31edd8-701e-4109-9225-51b41e35d246&isAliasGcp=false  Coinbase Exchange – Earn up to $300 BTC ➝ https://coinbase.com/join/YPUQLCY?src=referral-link  Tracking Tools – CoinGecko | CoinMarketCap  Trading Tools – Get $15 off TradingView ➝ https://www.tradingview.com/pricing/?share_your_love=cryptonextsteps  #Bitcoin #Crypto #BTC #CryptoNews #CryptoTrading #Blockchain #Altcoins #CryptoInvesting #DeFi #Web3 #BitcoinBubble #CryptoCrash #BitcoinPrice #CryptoMarket #Investing

Transcript

00:00welcome back to the deep dive today wow we are tackling probably the most talked about most

00:11polarizing maybe the most confusing asset out there right now bitcoin i mean seriously you

00:17open any financial news source and it's like whiplash one minute it's hailed as you know the

00:22future digital gold the ultimate shield against inflation and then the next minute you've got

00:26these huge traditional finance names calling it the biggest bubble since was it the 17th century

00:31tulip mania just pure hype basically based on someone else being foolish enough to buy it later

00:36for anyone trying to figure this out whether you're investing or just trying to stay informed

00:40it's it's a lot these price swings are wild up 20 times and crashing 80 it's dizzying absolutely and

00:46that's precisely our mission today to try and uh cut through some of that noise we've pulled together

00:51a pretty wide range of sources we've got the crypto native stuff you know the deep data dives from

00:56places like glass node coin telegraph but we've also got the big institutional reports the skeptical

01:01takes from bank of america jp morgan which you really can't ignore anymore look we're not crystal

01:06ball gazing here we're not trying to predict the next price target our goal is more foundational we

01:11want to lay out some clear objective criteria for what actually makes something a financial bubble a real

01:17one that's doomed to pop then we'll weigh the evidence for and against bitcoin using those criteria

01:22the idea is to give you the listener a framework something to help you sort the genuine signals of

01:27adoption from just you know the short-term speculative frenzy yeah exactly you need to understand the

01:33mechanics the risks involved so the next time you see some crazy headline you can actually place it in

01:37context is this real institutional movement or is it just another wave of retail hype actual knowledge

01:44that's the aim couldn't agree more hey before we really dive headfirst into this whole bubble or future

01:49of money debate just a quick reminder if you find this helpful please do like subscribe and hit that

01:54notification bell it just genuinely makes a huge difference you know telling the platform you're

01:58engaged helps us grow it boosts visibility and frankly it lets us keep digging into these crypto

02:03trends and bringing you this kind of analysis so thanks for that okay let's get into it defining a

02:09financial bubble where do we even start to build a solid working definition based on history right so

02:14drawing from those traditional finance analyses in our sources we need to establish what a classic bubble

02:19looks like it's not just prices going up fast it's about three core elements structural weaknesses

02:25that almost guarantee it ends badly first you've got that really rapid almost vertical price surge

02:31it's driven mostly by speculation right not by any real increase in the things usefulness or the money

02:36it makes the price just completely disconnects from any fundamental or intrinsic value second that leads

02:42to valuations that are just unsustainable people are basically buying because they believe prices will keep

02:47going up forever justifying today's crazy price that's the heart of that greater fool theory you mentioned

02:52always someone dumber to sell to and third this is the critical part the asset itself has some kind of fatal

02:58flaw built in maybe its supply is infinite or can be easily increased maybe it has no real productive use or

03:04maybe there's just way too much borrowing too much leverage involved whatever it is this flaw ensures that when

03:10sentiment shifts the crash isn't just a correction it's catastrophic often permanent okay that framework

03:15makes sense and those historical examples you brought up they really hammer home what happens

03:20when those flaws exist tulip mania 17th century holland that sounds absurd now right but people were

03:27trading single tulip bulbs the fancy ones like semper augustus for the price of houses in amsterdam

03:32it wasn't just a bit of speculation it was pure irrational madness over something that

03:37well it just just there looks pretty it produced nothing no dividends no industrial use and crucially

03:42it was a plan you could grow more tulips so when the buying frenzy stopped the price didn't just dip

03:47it collapsed utterly back to the value of a flower bowl because there was no demand outside of that

03:53speculative game that's a pure bubble zero utility exactly now fast forward a few hundred years to the

03:59dot-com bubble late 90s this one's a bit different and maybe more relevant because the underlying

04:04tech the internet itself was absolutely revolutionary no question the valuations they were detached from

04:10reality companies the boncom after their name were getting billion dollar market caps with no revenue

04:15sometimes not even a product the bubble was the belief that any internet company was gold when

04:20that bubble burst yeah the market crashed hard hundreds of companies vanished but here's the key

04:25difference the underlying technology didn't vanish the strong companies the amazons the googles

04:31they survived they got stronger the speculative excess died not the fundamental innovation that's

04:36a crucial distinction and the third example the 2008 housing crisis that one showed the danger of

04:41leverage right it wasn't just that house prices were too high though they were inflated the real problem

04:45was the complex financial stuff built on top these mortgage-backed securities full of dodgy subprime

04:51loans when those loans started failing the whole system froze it wasn't just about house prices

04:56it was about the risk spreading everywhere through leverage precisely so the paddam is clear lack of

05:03real utility supply that can be easily increased or dangerous levels of leverage now when analysts

05:09compare bitcoin to these historical bubbles the critical question we have to ask based on our sources

05:14is this is the comparison fair is it just based on bitcoin's crazy price swings or does bitcoin actually

05:20share one of these fundamental fatal flaws does it have infinite supply like fiat currency or zero long-term

05:26use like a speculative tulip and that's the core tension isn't it that structural difference

05:31but hold that thought before we dig into the fundamental arguments against it being a bubble

05:36we absolutely have to stare the volatility right in the face because let's be honest that's

05:40what screams bubble to most people the price charts are just wild especially for traditional

05:46investors used to what maybe five ten percent moves in a year think about 2017 bitcoin starts the

05:52year under a thousand bucks by december it touches nearly twenty thousand dollars a 20x return in less

05:58than a year i mean how can that not look like a bubble it absolutely looked like one and the aftermath

06:02seemed to confirm every skeptic's worst fears from that twenty thousand dollar peak in december 2017

06:08it didn't just correct it plunged over the next year it fell all the way down to around three thousand

06:13we're talking an 85 drawdown in traditional markets that's not a pullback that's a catastrophe it wipes

06:19people out so yeah this kind of violent cycle makes it incredibly easy for critics to just dismiss the

06:23whole thing as a speculative mania arguing anything this volatile is fundamentally broken and it wasn't

06:28a one-off was it the next big cycle leading up to the 2021 peak was arguably even crazier in terms of

06:35dollar amounts bitcoin runs all the way up to about sixty nine thousand dollars now okay that time the

06:42narrative was a bit different there was definitely some early institutional money coming in which we'll get

06:45to but the end result same story different numbers another massive painful crash followed exactly

06:51right from that 69k peak we saw huge drawdowns again depending on how you measure seventy percent or even

06:58more the price got pushed all the way back down towards the sixteen thousand dollar level over the

07:03following year or so it's these repeated incredibly sharp boom and bust cycles that provide the ammunition

07:09for the bubble argument the critics look at the speed and the sheer depth of the crashes and say see the price

07:14was never real it was just air which naturally leads us to the whole social aspect the psychology

07:19behind these peaks and tross our sources definitely highlight that get rich quick mentality it feels

07:24like classic retail mania sometimes oh absolutely it taps right into basic human psychology this idea of

07:31extrapolative expectations the belief that recent trends will just continue indefinitely people see the

07:37price rocketing and they jump in not necessarily because they've read the white paper or understand the

07:41having cycles but because they think hey i can buy this today and sell it for more next week to some

07:46other guy that's the greater full theory in action and the media plays a huge role amplifying everything as the

07:53price climbs you get wall-to-wall coverage non-stop positivity this fuels that fear of missing out

08:00FOMO people who really shouldn't be anywhere near such a volatile asset feel compelled to buy often right near

08:07the top and then what happens when it turns the same media outlets often pivot instantly to panic

08:11mode headlines scream about the crash that just accelerates the sell-off scares the latecomers

08:16into selling at a loss and reinforces the whole bubble narrative for everyone watching from the sidelines

08:22it doesn't matter at that point what the underlying tech or scarcity arguments are the appearance is pure

08:27chaos right this whole roller coaster of euphoria than despair it forces the big question we want you the

08:36listener to grapple with when you look at bitcoin right now wherever the price happens to be do you

08:42see an asset trapped in another speculative bubble doomed to crash again or is it just going through

08:48another one of its characteristic albeit brutal cycles before potentially heading towards a new high

08:54because figuring out whether it's a bubble or a cycle that hinges entirely on the fundamental

08:59arguments we need to unpack next okay so let's shift gears let's look at the evidence the arguments that

09:04strongly suggest bitcoin doesn't actually fit that classic definition of a doomed financial bubble

09:09this is the fundamental case and the absolute starting point the biggest structural difference

09:14that sets bitcoin apart from say tulips or fiat currency or even those dot-com stocks with no

09:19revenue it's the supply the hard cap this is really the bedrock of the whole digital gold idea

09:24bitcoin's code dictates that there will only ever be 21 million btc period that number cannot be changed

09:30by any government any central bank printing press or any group of miners deciding they want more it's

09:34immutable and that point alone fundamentally breaks the comparison with most historical bubbles doesn't it

09:41like you said the dutch government could have encouraged more tulip growing if they'd wanted to

09:46governments print money all the time that's monetary policy you can build more houses but you can't just

09:50make more bitcoin beyond that 21 million limit its scarcity isn't decreed by a government it's enforced

09:57by math by the code itself and that's where the digital gold analogy really gains traction gold is

10:03valuable largely because it's scarce and hard to get out of the ground bitcoin shares that scarcity

10:08digitally precisely so the debate immediately shifts it stops being about can this thing be infinitely

10:14copied or printed into oblivion because the answer is clearly no the debate becomes okay it's scarce

10:19but does this scarce digital thing actually have any utility that justifies people wanting to own

10:24it and giving it a market value and increasingly the answer to that utility question seems to be

10:28coming from some of the biggest financial players on the planet which brings us to institutional

10:33adoption you know this is a huge piece of the puzzle the idea that bitcoin is just for you know

10:38cypherpunks or retail gamblers that narrative really starts to fall apart when you see the names

10:44getting involved we're talking blackrock fidelity even companies like tesla microstrategy putting

10:49it on their balance sheets i mean think about blackrock they manage trillions of dollars when a

10:54behemoth like that spend serious time and effort lobbying regulators and then successfully launches spot

11:01bitcoin etfs that's not a trivial move they're essentially building a bridge they're creating

11:06regulated familiar ways for huge pools of capital pension funds endowments maybe even sovereign wealth

11:11funds eventually to get exposure it's like an institutional seal of approval reducing the career

11:16risk for traditional fund managers to allocate and it's crucial to understand why they're doing it

11:21according to the analyses we've seen it seems to be driven by a couple of things one is simply

11:27client demand their customers are asking for bitcoin exposure they want an asset that doesn't

11:31always move in lockstep with stocks and bonds but maybe more importantly there's a growing recognition

11:37even within these traditional institutions of bitcoin's potential role as a hedge against

11:43inflation as a store of value in an era of frankly unprecedented money printing by central banks look

11:50at microstrategy their strategy is probably the boldest example deciding to convert large portions

11:55of their corporate treasury from cash into bitcoin that's a direct rejection of the it's just

12:00speculation argument exactly they're explicitly treating bitcoin as a better long-term reserve asset than

12:06holding dollars that lose purchasing power year after year due to inflation that's a strategic

12:11balance sheet decision aimed at preserving value over the long haul it's not about flipping it next

12:16quarter okay but let me push back a bit here play the skeptic for a second this is an argument you

12:20sometimes hear maybe reflected in those more cautious reports from places like jp morgan isn't this

12:26institutional involvement just fancier packaging are they just creating easier ways for big money to play the

12:32same volatile game maybe even capitalize on the retail swings couldn't it just mean the bubble now

12:37has wall street stamp on it making it potentially even bigger and more dangerous that's a fair and

12:42necessary challenge the sources that argue against the bubble narrative tend to address this by focusing

12:47on the nature of the institutional involvement it's not just hedge funds trading futures anymore that the

12:52move towards regulated spot etfs the intense scrutiny from regulators like the sec that goes into approving

12:59these products the development of sophisticated custody solutions by players like fidelity

13:05this all points towards a longer-term commitment building this kind of robust regulated infrastructure

13:11suggests they see lasting value and utility not just a fleeting trading opportunity you don't typically

13:17invest billions in building plumbing for an asset you think is fundamentally worthless and heading to zero

13:22it signals a belief in its potential staying power and integration into the financial system right that makes

13:27sense the infrastructure argument is compelling and this ties directly into the broader macroeconomic

13:32case for bitcoin doesn't it using it as a real economic tool especially against inflation or currency devaluation

13:38yes because bitcoin's supply issuance is fixed predictable and completely outside the control of any

13:44government or central bank it holds a unique appeal especially for people and maybe even businesses

13:51looking for an asset that can't be debased by political decisions or endless quantitative easing

13:56in times of economic uncertainty high inflation globally or geopolitical tension that predictable

14:01scarcity can make bitcoin look like a potential safe haven an alternative way to store value and we

14:07actually have a fascinating real world test case for this right el salvador exactly el salvador's decision

14:13to adopt bitcoin as legal tender and hold it in its national reserves i mean talk about putting your money

14:20where your mouth is this isn't just theory anymore it's a country-level experiment happening right now

14:25bitcoin is being used or at least tested for everyday things like sending money home from abroad remittances

14:31for small business payments and as part of the nation's strategic reserves now obviously it's hugely

14:36controversial move incredibly risky for them but the very fact that a nation particularly one facing economic

14:43challenges sees bitcoin as a potential solution as a functional monetary tool that directly contradicts the idea

14:50that it's just a useless speculative token like a digital tulip it shows some people see real world utility there

14:56okay so we've got the scarcity argument lock supply we've got growing institutional adoption and infrastructure build out

15:02we see potential macro use cases being tested but let's dig deeper into the structure what drives the long-term value

15:08beyond just scarcity how does the network itself contribute this brings us to the concept of the network effect

15:14it's a fundamental principle the value of a network increases exponentially as more users connect to it

15:21think about the early internet or social media platforms bitcoin's value proposition grows similarly

15:27more users mean more people to transact with more transactions potentially mean more utility

15:33more adoption attracts more miners which makes the network more secure so we look at things like

15:39is the number of unique bitcoin wallets growing over time is the volume of transactions increasing is

15:44the network's hash rate a measure of its computing power and security going up these are indicators of

15:50the network's health and growth a growing increasingly secure network becomes harder and more expensive to

15:56attack or disrupt this creates a positive feedback loop more security builds more trust which encourages

16:02more adoption which further strengthens the network this inherent growth dynamic is something purely

16:06speculative bubbles lack they don't usually get stronger as more people pile in they often become more

16:11fragile okay this is where we need to as you said put on our analyst hats and really get into the weeds

16:16with some of the on-chain data sources like glass node provide this amazing window into what's actually

16:21happening on the bitcoin blockchain beneath the surface of just the price it tells us what investors are

16:27doing not just saying let's start with one of the most compelling metrics hodl waves sounds like a

16:32crypto meme but it's actually very insightful can you break down what hodl waves show us and why they

16:37matter for assessing stability sure hodl of course comes from that famous forum typo for hold and it

16:42signifies a long-term investment mindset hodl waves visually represent the age distribution of the bitcoin

16:49supply they basically track every bitcoin or fraction of one and show how long it's been sitting in its

16:55current wallet without moving so you can see what percentage of the total bitcoin supply hasn't moved in say

17:01the last 24 hours the last week month six months year three years five years even longer now if

17:07bitcoin were just a short-term speculative bubble what would you expect to see you'd expect most of the

17:12coins to be constantly changing hands held by short-term traders trying to catch the next wave the hodl

17:18waves would be dominated by young coins but that's not what the data generally shows is it not

17:22consistently no what glass node and others often highlight is that a very significant portion of the bitcoin supply

17:29often upwards of 60 percent sometimes even higher during certain market phases is held by addresses

17:35that haven't touched their coins in over a year or even over five years these are the long-term holders

17:39the veteran hands and what does that imply about the market's nature if so many coins aren't moving it signals

17:45a couple of crucial things first market maturity it suggests a growing base of investors who aren't just

17:51trading the volatility but see bitcoin as a long-term store of value maybe like that digital gold

17:58they're relatively insensitive to short-term price swings second it impacts the actual available

18:04supply if 60 70 percent of bitcoin hasn't moved in years it means the liquid supply the coins readily

18:10available on exchanges to be bought or sold is much smaller than the total 21 million cap implies

18:16this cohort of long-term holders acts like a sponge absorbing supply during dips and reducing selling

18:22pressure their conviction provides a kind of underlying stability even amidst surface volatility it shows a

18:28shift from a market of tourists to a market with long-term residents that's a really powerful insight

18:33okay next metric the amount of bitcoin being held on exchanges why is tracking that important right so

18:38tracking the balance of btc sitting on major exchanges like finance coinbase kraken etc gives us another

18:45angle on potential selling pressure generally speaking when investors move their bitcoin

18:48onto an exchange it often signals an intention to sell or at least have it ready to sell quickly

18:55if the price moves favorably it's making the asset liquid conversely when we see a sustained

19:00trend of bitcoin leaving exchanges it usually means investors are withdrawing it to cold storage

19:06that means moving it offline typically to secure hardware wallets that they control directly and why

19:12would they do that what is that signal it's a strong signal of accumulation and long-term conviction

19:17taking self-custody is a deliberate action it means you're prioritizing long-term security over

19:23short-term trading flexibility you're essentially locking those coins away indicating you have no

19:28plans to sell them anytime soon so if you see exchange balances consistently falling over weeks or

19:34months especially during price consolidation or dips it's interpreted as strong evidence that

19:39investors are accumulating for the long haul reducing the immediately available supply and potentially

19:44setting the stage for future price appreciation if demand increases got it accumulation into cold

19:50storage what are the big players the whales can on-chain data tell us anything about what they're

19:56doing yes analysts spend a lot of time tracking the activity of wallets holding large rounds of

20:01bitcoin the so-called whales while it's tricky because one entity can control multiple wallets you can

20:07look at the behavior of large utxos unspent transaction outputs or clusters of wallets known to belong to

20:14large holders what's particularly interesting is observing their behavior during major market

20:19crashes in traditional market bubbles the narrative is often that the smart money the big institutions

20:25or informed insiders get out first leaving retail holding the bag right they see the writing on the

20:31wall and sell quietly near the top with bitcoin however on-chain data often reveals something different

20:37during those massive 50 70 drawdowns we frequently see evidence of whale wallets aggressively accumulating

20:43during the panic selling they seem to view the crash not as the bubble bursting but as a discount

20:48buying opportunity so they're buying when retail is panicking often yes that pattern suggests that the

20:54largest presumably most sophisticated or deep-pocketed players have strong conviction in bitcoin's long-term

21:01recovery and future value their accumulation provides buy-side support during crashes and again

21:07contradicts the idea that it's just a flimsy bubble everyone knows is going to zero okay let's circle back to that

21:12dot-com analogy for a moment yeah you mentioned earlier that the crash wiped out the weak companies

21:16but the strong innovative ones survived how does that parallel apply here considering these fundamentals

21:22we've discussed i think it's a really useful lens the core insight from the dot-com bust wasn't that the

21:27internet was a fad it was that most early internet companies were poorly run had no viable business model

21:33and were wildly overvalued based on hype the survivors like amazon or google had genuinely revolutionary

21:39technology and figured out how to build sustainable value on top of it so applying that to bitcoin

21:46the argument is that the underlying technology the decentralized ledger the provable scarcity the

21:51non-sovereign nature is the fundamental innovation that's the internet part and the price volatility

21:56the price volatility is the market trying often painfully and inefficiently to figure out what this

22:03completely new kind of digital commodity this potential amazon of money is actually worth it's a multi-year

22:10maybe multi-decade process of price discovery in this view the volatility isn't the sign of a fatal flaw

22:18it's a symptom of the market grappling with something radically new something with no historical precedent

22:23for valuation the crashes are washing out the short-term speculators the weak hands similar to how

22:28the dot-com bust cleared out the unsustainable businesses that reframing is interesting volatility

22:34not as the disease but as a symptom of price discovery for something fundamentally sound

22:39and there's one more unique structural element of bitcoin that plays into these cycles right

22:43the halving absolutely the halving is key to understanding bitcoin's somewhat predictable cyclical nature

22:49and it distinguishes it sharply from assets whose supply is elastic or politically controlled

22:54can you explain the mechanics again how does it work and how does it influence price

22:58sure the halving is an event baked right into bitcoin's code it happens automatically roughly

23:03every four years or technically every 210 000 blocks mind what it does is cut the reward that miners

23:10receive for successfully adding a new block of transactions to the blockchain exactly in half

23:15miners expend huge amounts of energy and computing power to secure the network and validate transactions

23:20their reward paid and newly created bitcoin is the primary source of new supply entering the market

23:27so when that reward gets cut in half the read at which new bitcoin is generated also gets cut in half

23:32it's a programmed reduction in the inflation rate of bitcoin so it's a supply shock less new bitcoin

23:37hitting the market precisely a predictable transparent periodic supply shock for instance the reward started

23:43at 50 btc per block then half to 25 then 12.5 then 6.25 and most recently in 2024 down to 3.125 btc per block

23:53this continues until roughly the year 2140 when the last fraction of a bitcoin is mined and the historical

23:58charts show a pretty strong correlation between these halving events and subsequent major bull runs don't

24:03they the correlation is undeniable though causation is always debated historically in the 12 18 months

24:09following each having bitcoin has experienced a significant price increase often leading to a new all-time

24:16high the thinking is that this programmed reduction in new supply happening against a backdrop of

24:22potentially stable or increasing demand creates upward pressure on the price which then attracts

24:27more attention more speculation exactly the halving acts as a catalyst the anticipation of the supply

24:34shock often amplified by narratives like the controversial but influential stock-to-flow model helps kick

24:40start the bull run speculative interest builds fomo kicks in the price potentially overshoots driven by

24:47hype and then comes the inevitable correction the bubble-like crash phase right the market gets overheated

24:53leverage might build up and eventually it corrects sharply then it tends to consolidate and stabilize at

24:59a higher low than before the cycle began eventually setting the stage for the run-up into the next halving

25:04it creates this inherent four-year cyclical rhythm so putting it all together this is the crucial synthesis for

25:10investors isn't it i think so the key takeaway needs to be nuanced based on its core characteristics

25:16finance supply growing network effect increasing institutional integration real-world use cases

25:22being tested bitcoin does not seem to fit the classic definition of a structurally flawed doomed

25:28financial bubble like tulip mania or worthless dot-com stocks it has fundamental differences however

25:35investors absolutely must recognize that bitcoin exhibits dramatic recurring bubble-like price cycles

25:41these cycles are driven by a combination of the halving supply shocks and the resulting waves of

25:45hype speculation and emotion so effective risk management in bitcoin isn't about denying the

25:51volatility it's about understanding its cyclical nature it's about differentiating the speculative

25:55froth around the halving cycle peaks from the underlying slower moving trends in fundamental

26:00adoption like those hodl ways growing exchange balances falling and institutional infrastructure

26:05being built that's a fantastic summary structurally sound perhaps but prone to these wild speculative

26:10episodes so boiling down our key takeaways we've got this constant tension on one side the powerful

26:17narrative of scarcity of digital gold backed by that hard supply cap on the other the undeniable reality

26:23of massive volatility that looks and feels like a bubble to many but the evidence seems to be

26:28tilting doesn't it growing institutional buy-in from giants like blackrock who are putting serious

26:34reputational capital on the line and that objective on-chain data the hodl waves showing long-term

26:39conviction the whale accumulation during dips these point towards a strengthening fundamental base the fact

26:45that the market keeps recovering from these huge drawdowns combined with that finite supply really

26:49does make it structurally different from historical bubbles that just collapsed and never came back

26:53agreed and that really leads us to the final perhaps most important question we want to leave you

26:58the listener with it's something you have to decide for yourself and it shapes everything about how

27:03you might approach this asset if you accept the argument that bitcoin has fundamental strength that

27:09it's not just a bubble waiting to pop definitively the big question becomes what's its future trajectory

27:15do you believe bitcoin will eventually mature stabilize maybe behave more like gold becoming less volatile

27:22over time acting as that reliable inflation hedge influenced more by broad macroeconomic trends

27:28or do you think it's destined to remain this highly volatile asset forever defined by these intense

27:33halving driven boom and bust cycles making it more of a high-risk high-reward speculative play albeit one

27:39with unique properties rather than a stable store of value that's the million dollar question is it or maybe the 21

27:45million bitcoin question indeed and how you lean on that question of eventual stability versus

27:51perpetual volatility really dictates your personal investment horizon how much you might allocate and

27:56ultimately your tolerance for the inevitable wild ride along the way well that feels like a good place to wrap up this

28:01deep dive we hope breaking down the bubble arguments the fundamental counters the on-chain data

28:07and the cyclical nature has given you a clearer framework for thinking about bitcoin and cutting

28:12through some of that headline noise thanks for tuning in we'll catch you on the next deep dive

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