My New Years resolution is to provide more actual useful info was thinking maybe it would be shitpost less but I don’t like setting up for failure so here’s a thread on how I think about supply / demand imbalances over cycles thus far I’ve lived

1. Bitcoin is an extremely unique asset in that supply cannot react to demand in any meaningful capacity, miners can add hashrate and mine albeit slowly faster but it’s not enough to drive material supply side changes

2. This differs from a lot of commodities say oil or silver or gold or leggos as people want more of these and prices go up producers produce more they feed the ducks

3. Altcoins imo have largely been a market force driven by this issue though a lot of get rich quick and some actual innovation sprinkled but I think this is why the asset class has grown horizontally at its core

4. Either way you have periods where demand clearly crushes supply often halving related but nonetheless fucking up the imbalance and the momentum does the rest