Speculation is older than the mountains ⛰️ "Speculator" is a neutral term, not a derogatory one. Speculators and believers are simply different styles of market participants. Speculators provide liquidity for the efficient pricing of BTC. Believers provide a value anchor for the efficient pricing of BTC. The current collapse of BTC's price and the lack of innovation in Crypto do not stem from speculators. If one had to find a scapegoat, it would be the greed and short-sighted exploitation on the supply side. Of course, I've always believed that Crypto's current failure is not related to speculation on the demand side or greed on the supply side. Large. Because these are the underlying environments of Crypto. The main reason is that since 2008, in response to the financial crisis, the US government's policy of increasing leverage and the Federal Reserve's balance sheet expansion, providing extreme liquidity injections to businesses and households, is about to end. While BTC nominally opposes the dollar's excessive influence, it is actually the biggest beneficiary of this. When MAGA fully gains control and its ideology systematizes the US system, the dollar supply will enter a historical contraction cycle. Gold, silver, BTC, and US tech stocks will simultaneously enter a de-bubbling cycle. 26 years, let's say goodbye to 2008 together.