@CryptoTony__ Yup, pretty much, no volume really, every test is immediately rejected. If we go any higher it’s because it’s being pushed by the MMs that’s all. We’re only at the price because Saylor and Blackrock were buying. Spot demand is terrible overall.
@G_maker Maybe so. Maybe not.
I don’t need a catalyst, I need a price I’m happy to hold at for long term. 50% off an ATH was good enough for me, if it goes down further, I buy more.
It’s the destination which matters, and that eventually points significantly upwards.
@crypto_wan Those arguments are not good enough bc we have been in a downtrend with liq. Drying up while the rest of the markets are ath. We need a catalyst to shift money back into btc. Therefore, i think the market will provide us with better entries when that happens (gen. Entries).
@G_maker I don’t think the broader crypto market will recover like it has before and most of these washed up projects will likely die.
Bitcoin is a totally different kettle of fish imo.
@G_maker Bitcoin and crypto are two different things in my opinion now.
Bitcoin has a relentless bid by Saylor, sovereign wealth funds eyeing it, ETF’s, institutional funds and insane money printing causing inflation.
If that’s not a good enough reason, I’m not sure what more
@G_maker Okay, let’s agree to disagree.
My point is that not every bottom needs to be a “generational entry”. People expecting some large scale capitulation aren’t any more correct than people who think that the bottom may be in.
Truth is, nobody knows only time will tell.
@crypto_wan There is no such thing as maturing asset. Stocks is a good example. If enough money flows into the markets, things go wild.
But most ppl on ct know when the bottom comes. Most do get rich and return everything at the top. I've seen it couple of times already.
@G_maker I think a 50% pull back on a maturing asset is a pretty good entry. There are no “rules” to a bottom, otherwise, everyone knows
It’s the bottom and everyone would be rich by buying it.
@crypto_wan Generational entry is given by extreme market conditions like panic selling, crashes, etc. Eg: covid crash, exchanges going bust -> panic sell off.
A 50% drawback in a normal market condition is hardly generational. Q you need to ask yourself now: why should btc run now?
I disagree with Peter on a lot including his assessment of Bitcoin, but on STRC he is completely correct.
Saylor is a liability to Bitcoin, he is a big reason for the recent weakness, at this point a collapse of MSTR and subsequently BTC (as collateral damage) is unavoidable.
No longer an if, but when.
The main difference between a typical Ponzi scheme and $STRC is that with the former the promoter doesn't tell you it's a Ponzi or that your payments will stop when the pool of new buyers dries up. But the financial dynamics remain the same, despite the warning in the fine print.
@ChartingGuy Your first step is ignoring this app. Open a chart of monthly candles. Look at the low people we’re calling for. Then close said chart in disgust
@westfortbitcoin@saylor He's acknowledged it many time. In fact, he mentioned my name twice during his keynote at the Bitcoin coference in Las Vagas last year, yet refused to debate me at that same conference.
Over the past five years, the price of Bitcoin is up by just 12%. Over the same time period, the NASDAQ is up 57.4%, the S&P 500 is up 59.4%, gold is up 163%, and silver is up 181%. If the appeal of Bitcoin is its superior long-term performance, why should anyone keep HODLing it?
@BigCheds@Mastery_1122 People should use their own brains.
That $60k level was a generational buying opportunity. Who gives a fuck if this chump has $300 of cash on the sidelines.