The 4 steps of the bitcoin boom.

[Rexler]

Yes, we are at step 2 but I feel there has been investment from institutions already which helped bitcoin to cross the barrier of $15k when it was struggling for long time.

True we are at the second step already, and IMHO those investments was all bitcoin needed to get the bull run started as we can see right after those institutions decided to trust and invest in bitcoin thats when it started pumping.

Your article reflects the positive side wherein we also need to consider what could go worse like countries banning Bitcoin, institutions cashing out.

I guess he's just wants to be all postive about bitcoin, but it's also good to always plan for the worst scenario, just incase things go side ways, news like "countries banning Bitcoin or the institution cashing out, will definitely bring a negative impact on Bitcoin current price, and I just pray that wouldn't happen, instead bitcoin should be adopted more or accepted by the government rather than been banned.

[MCobian]

I am very worried if central bankers decide to buy Bitcoin, Due to the limited amount of Bitcoin supply, central banks easily control
the Bitcoin market. By buying Bitcoin in large quantities, they are able to manipulate the market for their personal gain. But the good
news is that it is unlikely that in the near future central bankers  will buy Bitcoin, so we can feel safe as individual investors.

[cynical]

Its a good list, we are probably at #2 or just before it but it doesnt matter we will see the full list fulfilled, there is no alternative.

[jahepahit]

I like this analysis it's very simple and straightforward. But it's going to take a long long time. This second stage will be the most important stage. At some point along the journey it might likely go back to the first stage and then move up to the Second. Not going to be smooth. But achievable.

[Coinsfera]

Step 2 is not just about institutions buying Bitcoin on their own. Institutions have supported Bitcoin in this process and have stated its value many times. Bitcoin has proven itself as a decentralized cryptocurrency, both as a payment method and as a store of value. It has been steadily rising and growing steadily over the last period of economic downturn and pandemic.