@invernere there will always be someone holding, DCAing etc. There are people in the world who can spare money to have it lying in $btc or w/e token for years
@invernere other question is can speculative asset really have "fair value". Perhaps in Bitcoin's case is the electricity spent would be that. Anything above that is speculation.
we will see how low we can go, I'm not saying it's certain, but I wouldn't be surprised to see sub $10k
if we compare the price of bitcoin between current one (~20k) and one 10 years ago (~$10), I'd say fair value of bitcoin is closer to the price 10 years ago than today
@invernere I think it's been digested well, just not by retail, which will get milked before actual moves down happen. there's just a lot of liq in ~21-23k range to be grabbed, market makers will use the little time they have until CPI reports and possibly even FOMC meeting to make some $$
China's most liquid coking #coal futures open down 2.8% at night, coke down 2.6%, crude oil down 2.2%, #IronOre down1.6%, #steel rebar down 1.6%, #aluminum down 1.6%, #PalmOil down 1.2%, fuel down 1%, #tin down 0.9%, #copper down 0.9%. #OOTT
there's nothing more telling about #NFT market's state for new collection than AI generated art
this wouldn't fly half a year ago, because there was actual competition from human artists. It's just talentless devs squeezing cash & flippers flipping. Zero longevity & no vibe