Like every market it relies on three large groups existing. One large holding the asset with no intent to sell over the next “horizon” whatever that’s defined a

Like every market it relies on three large groups existing. One large holding the asset with no intent to sell over the next “horizon” whatever that’s defined at. One group holding the asset and needing to sell it soon. And finally one group holding USD (or your local context equivalent) looking to buy into the asset. The winners and losers as far as appreciation of the asset (I made money holding it!) or depreciation of the asset (I recovered 70% of my value) are determined by how large each of those groups is. The stock market has been great because the population has been booming. The holders looking to sell have no trouble finding buyers looking to buy so they lock in their appreciation. The real estate holders in Detroit and now maybe SV (recent buyers) didn’t do great because demand for their asset cratered. It’s anyone’s guess what will happen to Bitcoin. Will it go mainstream causing the buyer class to massively outstrip the seller class and lock in huge gains for the current holders (to the moon!) or will it become as illegal as heroin in the major markets causing all legit holders to exit and the price to tumble to next to nothing? Only one thing is certain, in this time of uncertainty, you will certainly have no trouble finding lots of people willing to tell you which one it’s going to be with absolute certainty in their conviction.