The most dangerous thing you can do when analyzing something is to look at isolated events while ignoring everything else.
I didn't say these scams, hacks, etc. had no effects. I'm saying that these things are not the ONLY reason for dumps.
Even your zoom in this picture showing the dumps is isolated since the dumps started from November 2021 from $69k not 6 months later in May 2022 from $40k.
Some other events during the same period are:
- Russian invasion of Ukraine
- Increased inflation in US and Europe and pretty much everywhere else
- Euro/USD exchange rate dumping hard for the first time in years
- Increased interest rates
- Recession
- Food scarcity crisis when the export of grains halted globally for a while
- Energy crisis
- Other markets like stock crumbling down (eg. in first week of June which is Celsius on your chart, S&P500 dumped 11%)
- Introduction of a New World Order
- ...
a lot more that has been affecting the global economy in a negative way hence affecting bitcoin price also.
No offence, but it seems you are listing a lot of relatively isolated events to support the argument of Bitcoin's dumping -77.5% from it's highs in 2022. The irony being that in 2014 as well as 2018 Bitcoin dropped -83% from it's highs, so in reality Bitcoin has performed better (so far) within the 2022 bear market than in previous ones, given Bitcoin's bear markets remain part of a 4-year cycle. My point is if inflation had arrived in 2021 during Bitcoin's bull market, I'm sure most (including myself) would of wrongly claimed that inflation is good for Bitcoin, while now many still hold the belief that inflation is bad for Bitcoin, whereas as I stated Bitcoin has performed much better than previous bear markets without inflation and other factors - at least so far and based on the theory that the bottom is now in.
I think we will only know if all or any of these factors above are "bad" for Bitcoin will be price drops lower (in % terms) than usual, which would be <$12K, which remains to be seen. If the perma bears are correct and we will go into a global recession in 2023 and see Bitcoin make new lows beyond the "usual", then sure we can probably say that inflation/recession is bad for Bitcoin. It's not that I'm saying that certain events, whether it be hedge fund liquidations or other global economic factors doesn't have an affect on Bitcoin's price, but I only really see it
accelerating in the short-term where Bitcoin price will end up eventually, ie where price was going to reach by the end of the bear market anyway. Without certain events price
could have held $30K until November before dropping to $15K for example.
EVERYTHING effects the markets. It only becomes obvious once you look back, but not during
You clearly did not look at the charts at all. No offense but your just full of it.