If you need a TLDR just read the Big letters, if you have a bit more time, read big letters + Bold. If you can read this post entirely you may learn a thing or two !

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So Yesterday something big happened. Bigger than any crash, dip or whatever. The question is always about the long term outlook of crypto. Yesterday the long term outlook for crypto was cemented as bullish.

The Energy Fud Was Killed

The most important thing that happened: The narrative that Bitcoin is too energy intensive was totally reversed.

Experts of the sector explained that, Wind Farms and Solar Farms, have a variable load. This variable load means that sometimes they lose money because they produce too much and there is not enough demand. Bitcoin mining provides a variable base load for these projects. What it means is that, mining can be turned on and off depending on demand. It was revealed that most of these wind and solar farms would simply not exist without Bitcoin Farming as baseline customers.

There are still miners that are using coal plants and fossil fuel but the leaders of the industry are developing in tandem with the green energy sector.

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American law makers know their crypto stuff

The law makers yesterday had a pretty good understanding of crypto and of blockchain. They were interested and showed a better understanding of POW and POS than most of us. They didn't let Ari Juels push his narrative that POW is useless now that there is POS. It was the most surprising thing to see.

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There was a good understanding that Bitcoin provides more than a market cap.

Bitcoin is often just measured as a market cap in this sub but yesterday they spoke about more than this. They spoke about the high end jobs provided by Bitcoin, the construction projects, the funding for fundamental research, for Research and Development in the specialized chip industry, for the cooling industry. This shows more insight in the consequence of the Mining industry than simply the price of Bitcoin.

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Yesterday was Bullish long term

While day to day variations are concerning this hearing has dealt a huge blow to the doubt surrounding Bitcoin and showed that there is a road forward for Bitcoin Miners and for the future of Bitcoin. Bitcoin being the coin that dictate the market, the whole crypto market has a radiant future. If you were bullish long term a week ago, your bullish level should now be over 9000.

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Have a good day in the sea of red. I, for one, am still celebrating yesterday hearing.