Trader Top 9: FinCEN, XRP Lawsuit, and a Bitcoin Supercycle?

Scott Knudsen

12/31/2020 16:00

Welcome back to the final Trader Top 9 of 2020. This year will be remembered for many things, but certainly in our little corner of the world chief among them will be the staggering ascent of Bitcoin. Indeed, during the last week, much of the conversation was about just how far Bitcoin can run.

9. Before we get there, however, let's look at some of the less pleasant discussion from the week. The new proposed rules on self-hosted wallets are in a (shorter than usual) comment period (in)conveniently over the holiday.

8. While Bitcoin was thriving, XRP was having a hard time - becoming the subject of an SEC lawsuit and facing subsequent delisting on many exchanges.

7. For some reason - maybe because things were going so well in the bitcoin world, a very strange line of criticism - that bitcoin wasn't scarce because it was divisible - became a thing. Travis had this good reminder of the real story when it comes to BTC supply.

6. And as we mentioned at the top, even some bulls were hearing rumblings of skepticism that BTC could just keep going up. Will we see some sort of mean reversion?

Trader Top 9: FinCEN, XRP Lawsuit, and a Bitcoin Supercycle?

9. Before we get there, however, let's look at some of the less pleasant discussion from the week. The new proposed rules on self-hosted wallets are in a (shorter than usual) comment period (in)conveniently over the holiday.

8. While Bitcoin was thriving, XRP was having a hard time - becoming the subject of an SEC lawsuit and facing subsequent delisting on many exchanges.

7. For some reason - maybe because things were going so well in the bitcoin world, a very strange line of criticism - that bitcoin wasn't scarce because it was divisible - became a thing. Travis had this good reminder of the real story when it comes to BTC supply.

6. And as we mentioned at the top, even some bulls were hearing rumblings of skepticism that BTC could just keep going up. Will we see some sort of mean reversion?

Willy Woo added his take on this thread here:

5. Speaking of Willy Woo, he argued that the bitcoin bull phase is happening even more quickly than he would have expected.

4. Others like Messari published their annual retrospectives of Bitcoin and crypto as a whole.

3. Some celebrated triumphs of acceptance - such as Russell Okung becoming the first NFL player to receive his salary in BTC.

2. While others made some very ambitious price promises.

1. The question now is what happens next: a retrace or something very different? A new BTC Supercycle?

Trader Top 9: FinCEN, XRP Lawsuit, and a Bitcoin Supercycle?

9. Before we get there, however, let's look at some of the less pleasant discussion from the week. The new proposed rules on self-hosted wallets are in a (shorter than usual) comment period (in)conveniently over the holiday.

8. While Bitcoin was thriving, XRP was having a hard time - becoming the subject of an SEC lawsuit and facing subsequent delisting on many exchanges.

7. For some reason - maybe because things were going *so* well in the bitcoin world, a very strange line of criticism - that bitcoin wasn't scarce because it was divisible - became a thing. Travis had this good reminder of the real story when it comes to BTC supply.

6. And as we mentioned at the top, even some bulls were hearing rumblings of skepticism that BTC could just keep going up. Will we see some sort of mean reversion?

Willy Woo added his take on this thread here:

5. Speaking of Willy Woo, he argued that the bitcoin bull phase is happening even more quickly than he would have expected.

4. Others like Messari published their annual retrospectives of Bitcoin and crypto as a whole.

3. Some celebrated triumphs of acceptance - such as Russell Okung becoming the first NFL player to receive his salary in BTC.

2. While others made some very ambitious price promises.

1. The question now is what happens next: a retrace or something very different? A new BTC Supercycle?

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7. For some reason - maybe because things were going so well in the bitcoin world, a very strange line of criticism - that bitcoin wasn't scarce because it was divisible - became a thing. Travis had this good reminder of the real story when it comes to BTC supply.