Bitcoin Cycle Bottom By The Rebel Economist

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Originally posted on 2023-01-10

The collapse of FTX - the third largest crypto exchange - forced Bitcoin to test lows in the $15k range.

A Greyscale / Genesis / DCG insolvency will likely send Bitcoin to test ~$14k as they seem to be the last variable margin-trading crypto.

Assuming they don't go insolvent, then I believe the bottom is in - barring a macro-economic malaise in the general economy affecting crypto prices.

The last crypto bull run was triggered primarily by retail traders with expendable cash; the next Bitcoin bull run will likely need to rely on heavy institutional investment and adoption as retailers generally lack the expendable cash on hand to spend on risky assets like crypto.