/biz/ - Business & Finance

>>57977944
1. NVDA alone accounts for like 25% of those gains, and rightfully so given how much AI is going to fuck with the workforce in the very near future.
2. What? 5% drops aren't "crashing"
3. Bonds are rising on anticipation of the Fed cutting rates, which the Fed themselves have said will probably happen later in the year. I don't see how this is even a point to be made.
4. It's still trending downwards, the "rising" is completely overstated and is not a real concern for stopping rate cuts.
5. "like there's no recession coming" ??? BTC should be synonymous with Gold at this point albeit way more volatile; it makes sense to rise as a hedge against inflation which obviously has been extremely rampant and isn't fully priced into BTC yet.

There's no doubt in my mind that eventually there will be a huge recession as a result of one catalyst or another, but it makes zero sense to claim that this will drop BTC below 10k let alone even 50k. Bitcoin is not the S&P 500, it's a hedge against the US/world economy getting fucked up.

My average entry this cycle was 25k and it's clear now that this cycle is unironically different. Back to point #1, in an event where AI displaces a large percentage of jobs (extremely likely, it's more a matter of when), this would constitute an entirely new outlook on how economic growth is even measured. Labor as we know it would not exist in the same capacity as it has for the entirety of all civilizations, and thus most economic models are instantly deemed mostly useless as a result. THAT is the single biggest risk to the world today and could easily result in a massive recession / civil war / world war / or whatever the fuck else, given how unlikely it is that a smooth transition happens between our current system & some sort of UBI program (if that's even the answer, I have no fucking clue). The rich and poor divide will become even more massive.

ALL of the above is BULLISH for Bitcoin.