Benzu

HUMBLE.

Also better than you

[Benzu @0xBenzu]

Everyone is expecting the last dump to 50K to be the bottom of this bear cycle. But what if bitcoin:native just keeps dipping?

Here are some facts:

Bitcoin has existed during the most prosperous time in recent history. It started gaining traction in the 2010s when the world was bouncing back from the 2008 GFC, and since then an unprecedented amount of money has been printed.

During these times of prosperity, people and institutions had excess capital they could dump into risky assets for huge potential upside, and Bitcoin benefitted greatly from that.

The problem is — that’s all Bitcoin is: a risky speculation for people with excess cash to throw at it.

At the beginning, BTC was supposed to be a digital payment currency. After almost two decades, it has clearly failed at this purpose.

When we realized nobody in their right mind would use BTC to pay for anything, a new narrative was created: “store of value.”
Sure, so far on the LTF it looks great — if you don’t mind 80% of your capital evaporating every four years. But as long as those extreme drawdowns remain part of the asset, big money will never choose it over gold or bonds.

That brings us back to what Bitcoin really is under all the narratives and stories that function as bait to lure new money in, so old money can dump their bags on them. It’s a risk-on asset — something you buy if you have spare cash to burn and it either works out or not.

If that’s all Bitcoin really is, what happens when the excess cash runs out?
What happens when another recession hits?
What will be the next catalyst that kicks off the next bull run and the ones after that?

Trump is the most pro-crypto president there will ever be. He uses @worldlibertyfi to launder bribes from foreign countries and to sell pardons.

Trump made most of his net worth from crypto and has every incentive to send the crypto space to the stratosphere, yet crypto is bleeding while tradfi is booming.
So I ask again: what will kick off the next bull run?
Who will buy the coins old holders are already holding?

Let’s not even get into how BTC mining has become a hobby instead of a business because profits are dogshit, and using the compute for AI is clearly the better play for the foreseeable future.

What happens when there are no more retards willing to buy the useless coin?

BTW: I’ll keep DCAing just in case this time is really not different, but I’m still way more worried than I was in 2018 or 2022.
Idk if the algo will show this to anyone, but I hope everyone is right and we bottom at 55-50K.

Hyperliquid

[Rekt Fencer @rektfencer]

One final shakeout left.

Next bull run loading: [█████████░] 90%

[Benzu @0xBenzu]

Do we have to wait another 15 years to play a truly realistic looking game?

[DiscussingFilm @DiscussingFilm]

First official look at gameplay from GTA 6.

[Benzu @0xBenzu]

@blknoiz06 So you think people will enjoy losing money over and over again more than doom scrolling brainrot and asspics?

[Benzu @0xBenzu]

Plebs still trading memecoins after getting r*ped by KOLs and cabals over and over again for years genuinely deserve to lose it all.

The whole on-chain trading system is literally just a mechanism for the poor and retarded to donate to the rich, nothing else, no other use case

[Kai @kai_xbt]

Threadguy explains why on-chain trading is more addicting than any social media app

"I just watched Martin Shkreli log on to Pumpfun. He had a million dollars in Martin coin sitting there waiting for him, then he called his cat, watched the cat go 50x in 15 seconds, and vamped his own cat under a different name, all in 5 minutes. Watching this live it's just so obvious why people are going to trade on-chain. It's so addicting, especially if you're a big name. You log on, you're new to it, and there's $500k sitting in a coin waiting for you. Is it good, is it bad, what does it mean? I don't even have a take, but it's the most addicting thing there is."

"These are the most addicting social media apps in the world. It's more addicting than Twitter, more addicting than Instagram. Seeing what your friends are financially speculating on is the stickiest act in all of social media. Watching people make and lose money in real time, it's so sticky. It looks like a scam, it ends in ruin every time, of course, but the apps are unbelievably sticky."

[Benzu @0xBenzu]

@BreezyDegens Everyone knew for months that KYC is coming to HL frontend why are you surprised?

[Benzu @0xBenzu]

@TNTCapitalC RSI doesn't work on BTC

[Benzu @0xBenzu]

I don't see how holding spot crypto is better than holding treasury companies like $BMNR $MSTR $PURR

You get exposure to the underlying asset with leverage without risking being liquidated or drained

[Benzu @0xBenzu]

@jakusg09 @PChickenMemes @unusual_whales Don't control it my ass, the price already moves at the whim of the government

[Benzu @0xBenzu]

@rektober Send it

https://t.co/ik9WsCT8bh

[Benzu @0xBenzu]

@CoinDesk @nvidia @OpenAI Gon take a while to pay for that shit with -$38.5 billion yearly profit

[Benzu @0xBenzu]

@DJTRadar Twice 😭

[Benzu @0xBenzu]

@mitchdmoore That's exactly what I've been thinking about. A lot of people are certain the bottom has to be near/in

https://t.co/oeyMelgI1Q

[Benzu @0xBenzu]

That one 4Chan post predicting the market top did irreversable damage to CT.

It seems like everyone believes bitcoin:native will copy last cycle, meaning one more dump and bottom in October which everyone will catch and everyone will be rich.

If another leg down comes after the upcoming one literally 99% of people will give up on crypto

[Benzu @0xBenzu]

That one 4Chan post predicting the market top did irreversable damage to CT.

It seems like everyone believes bitcoin:native will copy last cycle, meaning one more dump and bottom in October which everyone will catch and everyone will be rich.

If another leg down comes after the upcoming one literally 99% of people will give up on crypto

[Rekt Fencer @rektfencer]

In 1-3 months $BTC bottom will be in.

But almost nobody will recognize it in real time.

Large caps will start recovering.

Every green candle gets faded.

Every breakout gets called a trap.

Then suddenly the bottom is obvious.

And when people finally turn bullish, they will be buying much higher.

That's how it works every cycle.

Get ready.

[Benzu @0xBenzu]

@Borg_Cryptos You will delete and try again later

[Benzu @0xBenzu]

@FalconyFalcon Because they give that much of a fuck about a Joe copytrading Burry with 250$ in NVDA puts

[Benzu @0xBenzu]

@QVN_QVN that's a whole lotta bullshit drawn on the chart buddy what kind of voodoo shit is this

[Benzu @0xBenzu]

@FacedSchiff @glassnode @anti_fragile Everyone that has their SL at 57 763.9

[Benzu @0xBenzu]

Economy will be in the gutter until a Democrat wins the 2028 election on the back of Americans feeling the economical hurt of Covid and Trump, the situation will stabilize it for a while until the early 2030's finally catch up with the bullshit that has been happening this decade, the US economy finally pays the price. After all that in 8-10 years the cycle can slowly start resetting

[Benzu @0xBenzu]

Trump will never admit he made a mistake, in 90 years of his life he never once did, won't happen now

Can't send stimulus checks he already borrowed historical amount of money and the US debt is skyrocketting

Can't lower interest rates the world would literally blow up in 6 months