In light of keeping things simple: When the money printer goes burr, inflation goes up, your purchasing power goes down, and that is why you buy hard assets.
This is a cool chart from Sylvain, which breaks down when and at what price Bitcoin will flip these assets. When Bitcoin gets to $123K, it flips Amazon, $158K it flips Apple, $191K it flips Microsoft, $217K it flips NVIDIA, and at $1.115 million it flips gold.
In 2017, during the peak, Bitcoin’s price was about 4–5 times higher than the 200-day moving average.
In April 2021, it was over 3 times higher.
Today, price is only about 18% above the 200-day moving average. The potential for more upside in this cycle lean favorably.