Post
Topic
Board Speculation
Re: Why was $13,800 unsustainable?
by
cocoadreamboy
on 02/07/2019, 18:29:40 UTC

The 13K USD price was unsustainable because the whales+HODLers+small traders+lucky noobs started selling their btc to cash out the profits and that selling pressure was stronger than the buying pressure coming from the whales+traders+possible institutional investors(I'm not quite sure about the third group).
There's support for 11K USD,which is great.

This is a day or two old, and it is already proven incorrect. 11k was not supported. You did not mention the miners at all. They are the largest "institution" that is active in crypto. They pay for all the new coins and sell them to recoup their costs and make profit. That is the natural flow of bitcoin.

Why does selling for profit make you mad? I am happy when people make profit.

Check out the creation cost of bitcoin here, see the cash flow and the reality:

https://www.amsinger.org

Aaron