CurΞosity Sq

This is the third time a major trend in the price of Gold vs. the price of Bitcoin has been broken. The previous two times marked generational bottoms in the price of BTC: - 4 year trend broken (2010-2014): Mt Gox collapse fallout / Bitstamp hack. - 7 year trend broken (2011-2018): Bitcoin Cash Hard Fork / block wars Both were trying times for the industry. The Mt. Gox hack saw ~7% of the supply of Bitcoin stolen. When Bitstamp (one of the few remaining major reputable exchanges) saw another ~19K BTC stolen - for crypto natives it was painful (obviously with such a huge financial loss), and for outsiders it was difficult to take the industry seriously. I'd argue the block wars / Bitcoin Cash hard fork was even worse than anything we're theorizing about Quantum today. "4 million BTC" wasn't just some theorized number that eventually may or may not enter circulation to the market... the world was forced to ask two important questions: 1) Is Bitcoin truly immutable, and which chain is the real chain? 2) If it can just be forked, is supply truly finite? Many theorized Bitcoin would spend a significant amount of time back under $1,000 after this happened. The market as a whole was dead. There wasn't a new narrative other than solidifying the old one. Obviously - neither instance killed Bitcoin. Both were incredible entry opportunities for anyone willing to buy the fear and go against the grain. I believe several years down the road, we'll look back at where we are now in a similar light. Maximum fear = maximum opportunity.