Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
I'm not sure what's going on. Why isn't there more buying pressure? sub $8k seems very cheap to me
I think you'd be surprised how little money from retail investors was the cause of the actual rally during the month of Dec. The whale pump money probably outnumbered Average Joe money like 100:1.
Which also means this isn't Average Joe panick selling, it is whale(s) shorting.
Nobody in his right mind buyin something that has gone 20x for no reason at all , other than to play on very short term bounces
sorry for broken english
Supply and demand.
Plenty things have gone up in cost astronomically beyond inflation such as housing, tuition, healthcare and many IT stocks have gone up far more than that far quicker.
Only precious metals such as gold and silver haven't gone up over the last 50 years when adjusted for inflation. Considering the word's population has doubled over that time that is a shockingly bad performance for something that is supposed to be "precious".
