@cryptosymbiiote A few things:
1. big boys have paper btc. the game is they spot buy btc and short it on paper. eventually they dump the btc, and their paper profits. There more paper than physical, so they profit
2. There is billions in alt coins that cant exit because they are shit.
@DojoNobody@MaxCrypto fiat is debt based currency. Its not perfect, but it has value because people have debt denominated in it. BTC has ZERO value. No one needs it. in a hyperinflationary economy, people have sold it to buy bread. It might rise out of the ashes after it goes to zero, but i doubt
@DojoNobody@MaxCrypto why should you buy btc then. do you think when eggs are $100, all of a sudden people are transacting in BTC?
Here is the uncomfortable truth that bitcoiners don't understand. USD has value, because people have mortgages, so they NEED USD to pay off their mortgages.
@chroe_trades long it but remember that BTC does absolutely nothing, and the promise of more liquidity (i.e. ETFs) has already been provided. There is zero reason btc makes new ATHs short of it being a B wave on low liquiditiy
@0xSweep hey bro, just fyi, theres a massive liquidity problem where hundreds of billions in alts have no ability to exit at current prices. This is going to drag BTC down into a slow bleed until it capitulates to zero as its only value was number go up. Number not go up = value is 0
@totjsr this is why im bearish. everyone sees this, and yet its repeating, meaning, not enough participants care, and bulls are holding this baby up before it crashes to sub 30k
NVDA (largest company in the world) going from 240 to 150 in less than 40 days shows how illiquid and unhealthy the market really is. I think these are all bear market rallies. Perhaps the B wave makes a higher high for SPX