It will be up or down because it can't be sideways forever
I'm almost as amazed by the long-term sideways move in Bitcoin as I was by the rise and fall. For something so volatile and speculative to flatline is remarkable. Even moreso because there's no way to properly value it. There's no dividends or cashflows; it's a disconnected market.
It's driven by sentiment and that's what makes me wholly confident that a move is coming and nearly certain it will be a big one. Bitcoin is either the flagbearer of a future way of everything or a new chapter in the 'Extraordinary Popular Delusions and the Madness of Crowds'.
My expectation is that the move is violent, downward and coming soon. There will be some kind of flashpoint like a hack or more bad news on ETFs that finally breaks the support at $5900 and then it will quickly get ugly.
I'm sure there are some promising technologies around blockchain but there were way too many get-rich-quick schemes and it's increasingly clear that most tokens will never deliver. More importantly, Bitcoin isn't going to be the technology that changes the world. It may still be the idea but the first mover is rarely the winner. Xerox invented much of modern computing and is now a fading memory. Blackberry invented the smartphone.
Bitcoin has name recognition and a wide user base but history has always shown that in technology, the better technology eventually wins out and a Bitcoin implosion may be ultimately be the next step in building something great in crypto.
