Newsflash: INFLATION IS HIGH.* Surprise! Reaction: SELL THE DEFLATIONARY CURRENCY, TO BUY THE INFLATIONARY CURRENCY!
Makes sense. To the average “Bitcoin investor” nowadays.
This is the least problem with letting people think of Bitcoin as sort of like a stock.
* Assuredly much higher than the heavily manipulated CPI numbers show. What kind of an idiot believes the CPI numbers? The kind who reacts to high dollar inflation by spending more money (BTC) to buy dollars.
Hm? Your note goes to show that perhaps you do understand Gresham's law? If you have equivalent values of two currencies (dollars and BTC) and you want to buy an apple (or a t-bone steak or a jar/bag of roasted bugs), then which one are you going to spend first?
Now, if you happen to be overallocated in one or the other of the currencies /assets, then your choice about which one to spend first might come out differently, no?
Now, if the market might be trending in one direction or another, then your choice about which one to spend first might come out differently, no?
Now, if there were fees and/or tax ramifications that differed between the two currencies/assets, then your choice about which one to spend first might come out differently, no?
Seems to me, what the markets need, is a mass liquidation event.........
The market only always needs a mega pump....
Hmmmm, I dunno bro, I think to get the pump, we may need to crush a load of longs, then the market can go and crush the shorts.
BTC wise, looking at those longs on finex... they surely need culling at some point.
It is the sideeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeways I fear the most... that is the worst of the worst.
+1 Sideways sucks the most
Call me crazy, if you must.
For some strange reason, on a personal level, I am partial to sideways over down
ity.. but hey, maybe that's just me?
In other words, my order of preference would be: 1) UPpity, 2) sideways, 3) down
ity