Crypto – It Is Different This Time
I have been astonished as you know by the growth of crypto.
I remember back in 2017 when I noticed that Stocktwits message volume on Bitcoin ($BTC.X) surpassed that of $SPY. I knew Bitcoin was here to stay and Bitcoin went on to $19,000 before heading into its bear market.
Today Bitcoin is near $50,000.
Back in November of 2020, something new started to happen on Stocktwits with respect to crypto.
After the close on Friday until the open of the futures on Sunday, all Stocktwits trending tickers turned crypto. The weekend messages on Stocktwits have increased 400 percent.
That has continued each weekend.
This is not a bubble…it is a sea change.
I am extremely confident there is enough capital and profits in the digital/crypto world that will never make it back to the physical world that the pace of development and spend will continue to accelerate.
All kinds of unintended consequences lie ahead.