All I can tell you is that every year we keep seeing the same exact news where people are speculating that some arbitrary [higher] price like $300, $500, etc. in 2015, $1000+ in 2016, $4000+, $10000+, etc. in 2017, $10000+, $40000+, $100000 etc. in 2021-2022 are impossible and the "dream faded" because the market is over-leveraged. They also always claim the rise so far is not because of "adoption".
In the end nothing changes. The price keeps on rising after each dip after purging the weak hands who thought that arbitrary high price is unreachable and sold.
Topic: Bitcoin ETF Rally Proved Short-Lived, and $100K Dreams Faded - page 2. (Read 222 times)
I don’t see how this is news really, this was well known pretty much a month back when we crashed down close to the low $40K.
And I don’t think this crash was caused by over leveraged positions, sure there was some degenerates liquidated on Bybit perps but most of this was due to the fact that it happened on an illiquid Saturday morning, where nobody trades.
And I don’t think this crash was caused by over leveraged positions, sure there was some degenerates liquidated on Bybit perps but most of this was due to the fact that it happened on an illiquid Saturday morning, where nobody trades.
It was not adoption.
I mean, that's what happens when the price is rising faster than normally, no? Also, we can have an over-leveraged market and at the same time have actual adoption; it's not one or the other. We literally have public companies holding bitcoin in their balance sheets now, which has very likely affected the market sentiment quite significantly.
I reckon that much of the people in the cryptospace are very uninformed on how overleveraged the cryptospace market presently is. This might change on 2022 where much of the mainstream news media and bitcoin news media’s next storylines will be about market leverage and how it was really leverage that pumped bitcoin to $69k. It was not adoption.
In October, the long-awaited U.S. bitcoin ETF approval sent BTC’s price toward an all-time high of almost $69,000. But extreme leverage preceded a sell-off back down to $47,100 by the end of the year.
Read in full https://www.coindesk.com/markets/2021/12/30/market-wrap-year-end-review-bitcoin-etf-rally-proved-short-lived-and-100k-dreams-faded/
In October, the long-awaited U.S. bitcoin ETF approval sent BTC’s price toward an all-time high of almost $69,000. But extreme leverage preceded a sell-off back down to $47,100 by the end of the year.
Read in full https://www.coindesk.com/markets/2021/12/30/market-wrap-year-end-review-bitcoin-etf-rally-proved-short-lived-and-100k-dreams-faded/
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