Now BTC is at $51k, its was up to $65k on some exchanges, $54k is -20%, so now we're at -25%
A sustained down of -20% is the legal definition of "Bear Market" get over it. Live with it. Sure HODL on or buy more, hell buy the falling knife, sell your house and car, and buy BTC on the way down,
Like I have said all along, it was the MUSK billionaires who sent BTC from $20 t0 $60k in the last six-months, not the geeks with stimmy-checks, they're over on DOGECOIN
Now MUSK & billionaires MUST take profits before all that money evaporates.
Given that CHINA owns BITCOIN, and MUSK with his $1.5B purchase drove the price, one can say that much of the corporate USA loss on BTC investment is just easy money transferred to China.
One mans loss, is another mans gain. In this case with +67% of all mining done in CHINA, they own BITCOIN.
MUSK was a BIG believer in China, but now with the people jumping on his Teslas, and his reaction, MUSK is seen as a pariah in CHINA for what he is, also in CHINA while the USA buys the bile because USA media peddles bile, in CHINA the people are aghast that he says "The Tesla that crashed in Texas, was NOT on autopilot", Chinese people see this as an assault to their intelligence, maybe for the USA the USA people are a nation of idiots in the eyes of MUSK, but in China with the single child policy of 60+ years, everybody makes sure their kid gets the best education, unlike USA where everybody is fed WOKE bile, in lieu of education.
BTC dropping like a rock, or reverting to the mean, is not a new problem, easy to go from $1 to $100, wasn't likely to go from $6k to $60k, but now stimmy checks are kaput, and the USA corporate balance sheet is crap. The single reason that MUSK, and dozens of other CEO's parked their corporate cash into BTC is hoping they could show a profit on their books. Not unlike GM, back in the day GMAC made morning money loaning its cash, than they did making cars, until they figured out that nobody was paying that money back.
Classis MUSK was John Delorean, who spent 100's of millions of company cash on Cocaine, so he could keep his car company afloat with drug sales in USA urban crack zones.
The entire BITCOIN narrative is now public, everybody knows that 100% of the BITCOIN 'story' is based on lies, there is not a single truth propagated by the pumpers & dumpers in BITCOIN land.
Just like USA today, where liars rule the media, here on BITCOIN liars rule the narrative, truth doesn't make you rich. But if your eyes are open, the truth can keep you from losing all your money.
Beautifully written. Have you confirmed, as I have done with pure math and science, that bitcoin is going to fall to around $100? It's easy to see. Get the word out fellow scientist!
