Posted 1/1/2024, 7:06:00 PM
Institutions Recognize Bitcoin's Long-Term Value Despite Price Volatility
- Institutions realizing Bitcoin not in a classic bubble due to its long-term price uptrend over 15 years
- Bitcoin has had 3 major drawdowns of 75% or more, each followed by a higher high
- Once institutions see Bitcoin survive a 3rd major correction and print a new high, it becomes impossible to ignore
- Bitcoin displays different characteristics than a traditional bubble like the 17th century Dutch tulip mania
- Bitcoin is trading around $42,742, up slightly over the last 24 hours