Re: THIS CRASH IS DIFFERENT than previous crashes... The FEDERAL RESERVE is why....
Yes, when institutional money started to get into Bitcoin, I thought Bitcoin would go up far more than it did.
Because you were speculating. And if most speculate the same thing, it's unlikely to happen.Bitcoin going down by such a large amount has ENDED the dream of a lot of serious institutional money investing into Bitcoin. No large institution is going to invest real money into Bitcoin now that it has crashed by more than 66 % in less than a year.
Uhm, have you taken a look at the chart? I suppose you haven't. Jan 2010, bitcoin was valuated at $16, a month later at $213, and then it crashed all the way to $70. (-67%)
Nov 2013, bitcoin reached $1,075, and then it crashed to $230. (-78%)
Dec 2017, bitcoin touched a $17,800, and then it crashed to $3,800. (-78%)
Nov 2021, bitcoin at $65,000, and here we are now, crashed to $20,000. (-69%)
Sure, no institution is going to invest "real money" now.
Ponzi Schemes simply do not survive crashes well... Bitcoin has proven that it will crash along with the stock market in an economic crisis. Welcome to the new reality. I am honest and smart enough to change my outlook on Bitcoin based on market conditions, most others here are not emotionally capable of doing that.
Okay, three things.- Ponzi schemes do not survive when they crash. Period.
- When the entire economy is crashing, it's rational for something to be crashing as well.
- We are not in an economic crisis. We've slipped through a deep recession.