Post
Topic
Board Speculation
Re: Bitcoin recent boom tracing back to Mt Gox + FTX/celsius/terra
by
Guessti
on 21/01/2023, 08:26:55 UTC
The most dangerous thing you can do when analyzing something is to look at isolated events while ignoring everything else.

In this case (bitcoin price) you are isolating an exchange scam case and focusing too much on it without considering all the differences.
In 2013 when MtGox bubble formed which popped in November, this exchange controlled almost all the trading volume in bitcoin market (more than 85%) and other exchanges weren't really significant enough.
In 2022 something like FTX barely has any percentage in the much bigger bitcoin market that contains over a dozen big bitcoin exchanges with higher volumes. Same with centralized altcoins like stablecoins, they don't have any significant effect on bitcoin price anymore.
In 2013 not much else was going on in the world considering economy, in 2022 the world economy was (as it still is) in terrible shape with high inflation and recession in most countries that is significantly affecting bitcoin market.

Quote
Binance is ahead having its own token and blockchain. I wish coinbase would follow suit leaving the stock market functions behind.
They would just be creating yet another useless shitcoin that is completely centralized and will most probably die in a year or two when the major CBDCs are dominating the market. By then these exchanges that are creators of these centralized shitcoins and have full control over them would go down because their shitcoin gets dumped hard down to 0.

Quote
Maybe Elon Musk will take doge to mars.
haha. Elon will only pump and dump this shitcoin as long as he can make money from it.