Jon Quast

But I think there's still room for a scrappy startup to come in here with a different model or

just doing something differently.

Necessity is the mother of innovation.

I think that there could be room for an AI startup to bootstrap itself and really shock the world.

It's hard to predict when that would happen, how that would happen, but I wouldn't be surprised if it did happen.

Yeah, it does seem like momentum is ending, and it's kind of ending right on schedule when you'd expect it to, at least from the perspective of Bitcoin.

Bitcoin does have some pretty regular patterns, and it seems to be related to the halving cycle, which impacts these

flow of new Bitcoins into the circulating supply.

It messes up with supply and demand.

While those things are still coming back into balance, there can be big swings in the price of Bitcoin upward.

But around a year and a half, two years after a halving event, which we had one in early 2024, things start to stabilize and it seems to peak off.

In the past, we've had

bear markets with Bitcoin with a drop of 80% or more.

You would hope that Bitcoin has grown out of that extreme volatility at this point, perhaps with higher adoption.

But in reality, yeah, the Bitcoin stalling out, the price stalling out, it's pretty much right on schedule.

I find that interesting.

What does surprise me as well, though, you would expect this crypto space to have matured to the point where

Not all of the alternative coins are trading in pair with Bitcoin, but there still seems to be a lot of directionally tied movement with all of the coins to the price of Bitcoin.

Yeah, it is very different this time than, say, four years ago or eight years ago when these other cycles have happened with Bitcoin.

It's so interesting.