So much for the claim the BTC has never fallen below the previous cycle. Just yesterday I feel like Saylor was on tv saying nobody has ever lost money on BTC that’s owned it for more than four years. A shame that is no longer true. I guess it’s a sign of a maturing market, but with all the doom and gloom out there it feels a bit like we’re about to fall off a cliff price wise.
I have said many times that for awhile now, we have already been below the previous cycle top in inflation-adjusted terms (real value, not b.s. manipulated CPI). $19k in December 2017 dollars bought how much in goods and services? How many dollars would now be required to buy the same goods and services?
If this doesn’t stop, then in inflation-adjusted dollars, we will soon approach Saylor’s original DCA (IIRC ~$11k mid-2020 dollars before he started buying more).
This is likely an attack on Bitcoin. The product of high-capital, intentional market manipulation—not organic behaviour of a bear market.
Before, that was a hunch. Now, I think the probability is approaching 1. Have been meaning to write something about that; will do later...
