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63 sats \ 3 replies \ @ek 20h \ on: Market Prices Are Truth: What is BTC/USD Telling Us? bitcoin
I didn’t look at the chart right now, but hasn’t every cycle been the worst one and the fundamentals have always been mostly the same?
Isn’t paper hands always the answer to some degree? But I guess that’s as insightful as answering the question "Why is bitcoin crashing???" with "Because people are selling," lol
I would say prices are eventually truth
hasn’t every cycle been the worst one
Pretty much, which is exactly what you'd expect and I've seen @denlillaapan express that expectation, too.
As more value is stored in bitcoin, it's just harder to move the exchange rate by the same percentage. Alternatively, as we get nearer to equilibrium purchasing power there's less arbitrage opportunity, so there's less incentive to get in.
I wouldn't say so: fundamentals are much better, while return/acceleration much lower. (From a finance theoretical view that's sort of what I would expect, but not if we're a new neutral reserve asset)
As for paper hands, that's a lovely explanation... but as you say, pretty unsatisfactory!
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