I've been in this space for 8 years, so I was there when China discovered Bitcoin, in 2013, and drove the market 10X. I was there in 2017, when the CME Futures took Bitcoin to $20k.
The market has stalled around the ATH, and news is light. We all expect Bitcoin to surpass $100k this year, but something has to happen to spur the Bulls into running.
Bitcoin doesn't run up on pixie dust. You have to do something, after the halving, to get investors excited. Right now, the scent has gone cold, and I don't see anything happening any time soon.
The Spot ETF is the easy answer, but Gensler doesn't seem to be in any rush to balance out that market against futures. There is one up for Christmas Eve, but if that doesn't work for his agenda, it's gonna be months. SEC disclosures of major companies buying it are also probably not coming until 2022…..
You can't start a fire without a spark. What sparks a fire under the Bitcoin Bulls this year?