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Those running deer certainly knocked a whole lot off the net worth of those crypto holders that is for sure.
No what happens is the Whales attack each other, and those with long positions get wiped out of their positions. Due to leverage this triggers sell orders and a domino effect which activates limit sell orders even when people did not intend to give up their position.
If it was just the new people we'd be at 40-45k. The traders have gotten sidelined as they are trying to avoid the catch a falling knife scenario. Check Tether and other stable coin value. There's about $100B on the sidelines right now.
Exhibit A
Bitcoin is not secure from govts that want to take it. Or perhaps hackers
Yes, which is a major blow to the tech-bros who thought it was anonymous and worldchanging. Turns out it's just another electronic investment vehicle. Or gambling share if you want to look at it that way.
If some of the smartest Hackers in the world made mistakes in protecting their bitcoins what chance does the average bitcoin owner have who knows little to nothing about what is really secure and what isn’t..
The answer is likely slim to none.
I like playing gbtc and yes I do mean playing as in a gamble …quite frankly I don’t give a hoot about the technology or the whys ..it is strictly a gambling vehicle ….. I simply care about the volatility of it for a trading vehicle..
It serves no purpose in my portfolio as a core holding .
Hopefully I will be out again today at a profit before it stumbles
You can NOT easily hide your tracks without using several complicated coin mixers with low liquidity pools and painstakingly structuring transactions over MONTHS....
I am quite pleased that finally some effort is being made to "follow the money." I have always wondered, when I get those spam calls that interrupt my work such as the "Dealer Service Center" or informing me that I have won a free Marriott or Hilton stay, why law enforcement does not find a way to insert itself into the money trail. After all, the perpetrators, whether two-bit operatives such as the "Dealer Service Center" or the Colonial Pipeline hackers need to find a method to spend their ill-gotten gains in the legitimate economy. I cannot go to the neighborhood gas pump with a debit card full of bitcoins and expect to fill my car. Somehow the booty must be turned into "coin of the realm."
It's relevant because this is not fair value, based on an incorrect interpretation of current events.
If the market is made up of….erm paper hands…aka dumb money now selling in your eyes, then why is anyone to believe the price before was the real long-term fair value? Weren’t these masses the same one driving up the frenzied greater fool buying that led to the higher price to start with?
If the market is made up of….erm paper hands…aka dumb money now selling in your eyes, then why is anyone to believe the price before was the real long-term fair value? We’re these masses the same one driving up the frenzied greater fool buying?
Because when you have an asset class which is or was almost cult like in its following it has those involved drawing conclusions about things that don’t add up to what the rest of the world sees.
It is like a religion to them so they can argue for it all day whether facts say other wise or not
If the market is made up of….erm paper hands…aka dumb money now selling in your eyes, then why is anyone to believe the price before was the real long-term fair value? Weren’t these masses the same one driving up the frenzied greater fool buying that led to the higher price to start with?
All the dumb money is currently out of the market. All the FUD has moved BTC primarily into institutional hands.
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