Bitcoin became the victim of its own success

Look here is my ultimate point, I think it's totally fine to have dissenting opinions about bitcoin. But if you have been saying the same thing as BTC went from $10 --> $69,000 you have no credibility. If you are now taking a victory lap when its at $33,000 (still over 300x higher than 2011) then you really have no credibility.

Listen to his man at your own risk, it will likely cost you money.
 
GlobalMacro90 said:
Listen to his man at your own risk, it will likely cost you money.
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There is no reason to diss Johnarb this badly. :)

There were 2 claims/reasons made in the OP, yet nobody tried/dared to refute them. So let's repeat maybe there is a brave boy:

1. BTC moves with the market, period. Expecting a 100+% is just silly, unless the market rallies 50%. Do you really expect that?
2. The ponzi on ponzi nature of crypto inventions gives it an even more risky investment profile. Can you stand that and are you ready for inevitable the fall out?
 
Nobody worships the tulips today. Equally, what is the point to look at past mania other than learn from them? You are the only village idiot who still hangs onto the past. Move on.

GlobalMacro90 said:
Look here is my ultimate point, I think it's totally fine to have dissenting opinions about bitcoin. But if you have been saying the same thing as BTC went from $10 --> $69,000 you have no credibility. If you are now taking a victory lap when its at $33,000 (still over 300x higher than 2011) then you really have no credibility.

Listen to his man at your own risk, it will likely cost you money.
More...
 
Here I go arguing with the guy who has been bearish since $10...

1. BTC moves with the market, period. Expecting a 100+% is just silly, unless the market rallies 50%. Do you really expect that?

This isn't true. Sure it seems like that right now, but the correlation is a number not a feeling. Here is the rolling 26-week correlation between BTC and the nasdaq. Notice that sometimes its positive (like right now), sometimes its negative.

If you average this, the correlation is basically 0 (very slightly positive). If you take the correlation over this whole time period, its also close to 0.

Now you can argue the correlation permanently changed, but why would that be? Some may say bc institutions are now in, but are they? I think most are still waiting/behind the curve.
 

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GlobalMacro90 said:
Thats not true. If BTC hits 21K MSTR has to put up more bitcoin for thier loan (which they have). It doesnt mean they have to sell
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Reading the article, there is a loan. At $21k, red alerts are going off for the company. Markets have a way of testing you.
 
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