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RE: Bitcoin appears to be Flagging
It has a decent track record of being stable,
Unfortunately, it has zero track record of being stable during a recession in which crypto exists. This is the only track record that matters, and there is none. We are entering uncharted territory. We can't look to the past for answers.
I use this same logic in a lot of my posts. Crypto is not comparable to dot com or corporate entities. The Halo Effect and projection of the past into the future is now our enemy.
Well if that is the case bitcoin and crypto would have to change how they have traded the last few years. If you look back at recent price action, bitcoin and crypto has traded very much like a risk-on asset. At the far right end of the spectrum at that. I am not saying you are wrong, but it would mean crypto would have to start trading much differently than they are now...