Someone still has to tell me why history should repeat itself now that price is 100X higher than what it was at the end of the 2011 bear market.
Because Bitcoin is the perfect exploit of the squirrel in man. Its utility beyond that is secondary. I mean, look at how gold is hoarded. Underground vaults stacked with bars, what utility do they possibly hold? Anyway, if history repeats it will be 35X.
Bitcoin has no utility if its price goes to 0. It will just be another random byte of data floating in cyberspace.
Conversely, even if gold goes to 0, it has industrial uses in electrical components and heat conduction. Same with silver. So not sure where that comparison stems.
metals have truly limited supply and if they disappear them it will be a real trouble.
Other stuff, like Bitcoin, should be used instead of gold and silver and stuff. It would make industry cheaper because silver and gold would be cheaper too.
