Bitcoin Plummeting 11% to $37,980
- Thread starter RedSun
- Start date
I think there's a "store of value" price where BTC will find support from rich millennials, Mexican cartels, North Korea, Venezuelans and Turks fleeing currency collapse, etc. But it might be considerably below here.
Also, what happens when QQQ down another 20%. All MEME, SPAC and ARKK etc tank another 30% or more? Then money will be tight and all those retail "traders" throw the towels and exit the trading. Then Bitcoin will be dead.
It is all the extra cash in the market, from Biden and some from the hot housing market. They do not last forever.
When markets are down, financial values get destroyed. Cash evaporate from the markets.
It is all the extra cash in the market, from Biden and some from the hot housing market. They do not last forever.
When markets are down, financial values get destroyed. Cash evaporate from the markets.
The gig is up for BTC.
I still believe all the crypto, Meme, SPAC and QQQ stuff are mostly traded by the retail traders. As a whole, money has been leaking from those markets. Cash has been disappearing even if there is no redemption. So traders have less cash to trade.
When stock markets are making records, markets as a whole are gaining paper wealth. But it is just opposite now.
Will be interesting to follow the markets. Cash is the king now. I see all things will go down further. Not doom day. But still a lot of froth in the markets.
When stock markets are making records, markets as a whole are gaining paper wealth. But it is just opposite now.
Will be interesting to follow the markets. Cash is the king now. I see all things will go down further. Not doom day. But still a lot of froth in the markets.
Yes. You're absolutely right. Stay away from Bitcoin.
