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In May 2019 a prominent Bitcoin Core developer called Matt Corallo posted a Twitter thread calling for DEI recruitment into Bitcoin development.
The same month, John Newbery hired a new co-organiser for Chaincode Labs' developer residency.
It took 14 days to go from ~5000 nodes to ~6000 BIP110 nodes.
Since there is a BIP110+core version now, expect more and more people running BIP110 than ever before.
Shitcoin core days are NUMBERED...!!!😎
@EricBalchunas Overheard boomers at my local diner: “Just ramped my daily DCA, way oversold here on the weekly and Mayer multiple is at -1sd levels. Sure we might chop around $55-$75k for a bit but we’re in deep value territory. Oh you’re bearish NOW, Charlie? How brave of you. ATHs this year.”
@CanexBTC the big bitcoin influencers (50k+) and corporate sponsors of Core all share the same social groups at this point
some of them are unaware how big the movement against Core is, but the ones that are aware don’t care because they dont respect plebs
Every mean reversion model, from technical to onchain is trading within bottom formation levels, typically seen after the price capitulation event (which Dec 2018 and Jun 2022 were examples of).
Both sell-offs in Nov and Feb are in the hall of fame of Realised Loss onchain. Not the biggest in relative terms, but by far the largest in USD terms, over $7.5 Billion over just those two days.
We're in the bottom 20% of the most conservative, and bottom 5% of the most aggressive deviations from any sane anchor model.
Either Bitcoin is dead, will no longer mean revert, and all your models are broken...
...Or you should be ignoring the bears, staying very humble, and quietly DCA stacking sats from here on.
Price pain is largely behind us imho, however time pain likely remains. It will claim many who don't want to see the rest of the movie.
We often experience retests of the lows, leaky price charts, powerful rallies...and then lower lows...often with a final capitulation event to book-end the time-pain chapter of the bear.
In my view, even though this sounds horrific, it is unlikely we have anywhere near the aggressive rate of decline, nor depth of decline as has already occurred in Nov'25 and Feb'25. The hard part of the drawdown is most likely behind us.
The difference between $17.6k in June 2022, and $15.6k in Dec 2022...was six months (the price delta is frankly irrelevant for any long-term investor).
There is no rush, but these Bitcoin prices are temporary. How temporary we do not know, but it's tremendously oversold, and there are few statistics I am aware of that suggest otherwise.
The bears will spend the next few months liquidating their trading accounts trying to short the bottom of a painful chopsolidation range. The bulls will do the same by getting too hopeful at the range highs.
Investing is a game of picking great assets, accumulating at low prices, and then being patient as fuck.
The 200-week MA is at $58.5k, a mere bees dick below the $60k low we already set. There are still folks out there who want to haggle over the missing 3%.
The Realised Price is at $55k, which from first principles, should stop being visited over time, as it deviates due to unrealised profit in lost coins (a topic for another day). We've already cleared every excess leverage level down to $60k, no stop losses survived February's move.
This is the time to stay humble, and stack sats.
If you're not actively accumulating Bitcoin at this stage, then when? Don't fantasise over lump summing the exact bottom wick. You will be too scared to do it on the day.
Buy the whole bottom. Dollar cost average for the next six months, and remove your emotions from the problem at hand.
A final note; ignore the bears. They will perpetually revise their targets lower and lower, and get plenty of clicks for doing so. Humans love bear-porn because we're wired to avoid risk.
This is literally what a de-risked setup looks like for Bitcoin.
Ignore the bears, they lack ambition.
Another day of Bitcoin influencers not covering the Andy Back allegations and pretending that nothing is wrong-- is this part of Bitcoin's immune system permanently broken due to malincentives like sponsorships, interview access, and conference access?
Are most Bitcoin influencers just going to stay quiet about the Andy Back allegations and hope that it goes away? That's a great way of showing utter contempt for your audience. It's not going to work as a strategy, and people will remember what you did
Core dev Jeremy Rubin pitched Jeffrey Epstein on a crypto deal, which Epstein declined on moral grounds.
When a convicted pedo sex trafficker is the ethical guardrail in your investment meetings, maybe reconsider your career.