Oddbean new post about login | logout https://m.primal.net/KqOR.png According to the #bitcoin M2 pricing model, the price *should* have reached a high of ~$100k ish in 2021 before the bull market was cut short, making a retracement down to $50/$60k completely normal.
Yes, I agree. It should have hit $100k in 2021, but for the main inefficiency in the #Bitcoin markets: centralization: the centralization of exchanges/scammers/rehypothication, and the long time hang over of stolen Bitcoin being liquidated by malevolent parties likes US Gov, Gox Trustee, etc etc.
