Lol, more likely sub 1k, as real money has fear, fake money does not.
The 5 year return of Bitcoin is ZERO today
- Thread starter Pekelo
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Lol, more likely sub 1k, as real money has fear, fake money does not.
That is actually an interesting take, I have to think about it. If this would be true, the whole crypto community should work on exposing Tether.
Is there data on how many Tethers are in small hands? Because I have a feeling big companies holding billions won't be able or willing to dump those, so I wouldn't count on those as sudden extra cash coming in.
That ratio is actually very good.
The DJIA and Nasdaq makes just 6% percent above the risk free rate with 90% historic drawdowns.
But ofcourse Bitcoin is not going to make 93% a year going forward.
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Going back to the topic of extended periods of sideway movement for the crypto market, here is the Nikkei 225 for the historically unaware.
Its ATH was in 1989 November, and 33 years later we are still 20% below that, never coming close to it in the last 3 decades:
https://www.macrotrends.net/2593/nikkei-225-index-historical-chart-data
As Clint Eastwood would say:
Do you have 3 decades, punk?
Its ATH was in 1989 November, and 33 years later we are still 20% below that, never coming close to it in the last 3 decades:
https://www.macrotrends.net/2593/nikkei-225-index-historical-chart-data
As Clint Eastwood would say:
Do you have 3 decades, punk?
Only 2-5% of Tethers are in big companies (exchanges), most of the Tether in circulation are in individual wallets or locked up in defi smartcontracts
You can track Tether balances on the blockchains, it exists on more than one, but most circulating supply are on Ethereum
Fun fact, Tether was issued first on the Omni network
https://www.omnilayer.org/
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Click on the explorers section and choose your blockchain to track Tether
https://coinmarketcap.com/currencies/tether/
OK, so those in smart contracts are highly illiquid, correct? And if (I mean when) Tether goes down, whoever accepted that as a collateral going to take a massive hit.
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defi has liquidation algo built into the smartcontract and will be the first to dump Tether if it depegs but remember what I taught you in previous convos, Tether is the king of liquidity, it will take a lot to depeg it
Tether was attacked recently and hardly deviated from $1. There was even a thread here on ET, lol
You can withdraw from any smartcontract defi platform in less than 1 minute any time, 24/7/365
This is the crypto assets ethos
Very different than TradFi that operate within business hours
And then they remove your ability to withdraw, like Blackstone, Genesis, BlockFi, Celsius, Voyager, FTX and others
People's funds locked up in cefi platforms
I gave it more thought, and I think that is highly unlikely. This is what would happen:
Tether starts to drop, let's say it is at 90 cents. Tether holders get scares and start to buy just about anything. That causes a short term rally, I would say a few days tops. (maybe just a few hours, depends on how fast the exchanges act) Somebody has to be getting all those unwanted Tethers and that is the exchanges. So they quickly realize that they are the ones ending up holding the Tether bag and will suspend Tether trading. Probably other stable coins get dumped too for at least a while. If another stable coin can take up Tether's current role that is still to be seen.
So a short term rally and suspension of Tether trading what I see.
It’s pretty pathetic you cherry pick the absolute bubble high from 2017, and the bear market low of 2022, and the return is still flat lol
what the return since you first were bearish on bitcoin at $30? Would love to hear that one.
what the return since you first were bearish on bitcoin at $30? Would love to hear that one.