Bitcoin: The End Of The Throne (BTC-USD)
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On June 18th, Bitcoin broke below its previous cycle high of $20k/BTC. We believe this is the beginning of Bitcoin's decline as a market leader. Bitcoin's only actual use case is to convince others to buy it. We expect Bitcoin to bottom below $10k around September - November 2022. Bitcoin is experiencing a paradigm shift unlike any other. A paradigm shift is taking place, eventually leading Bitcoin to relinquish its throne. A simple mental model follows: Bitcoin is a store of value, widely used as a decentralized application of money, follows the mental model of money: A mental model: Bitcoin follows a simple mental approach to money. A model to compare Bitcoin as a form of money is a simple, a simple form of Source