Finally, after 8 months of waiting we have a dead cat bounce! And all this because of the "good news" of some ponzis paying fiat debt and getting back their BTC collateral. Once again the market is irrational. These ponzis are specialized at coordinated BTC shorting to give the clients the proper yield in BTC. My guess is that they will wait for the cat to stall somewhere in the 26K-35K range, to resume the shorting.
~snip~
I was hoping that all these companies would fail, which would be the best sequence of events regardless of the negative impact on Bitcoin in the short term. However, as things stand, this crypto circus will continue and people will continue to believe in fairy tales after all - because irrational behavior during the pandemic has become even more pronounced than before.
Can't agree more. There is hardly any prediction that has gone true regarding bitcoin price, evident from historical dafa. Yesterday I read a tweet where its written by a popular social media crypto guy that "bitcoin wont be traded under 20k again".
Everyone can predict there future price but the fact is there is no way we can determine future price of bitcoin. That's positive or negative aspect of decentralized cryptocurrency aka bitcoin.