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@BCG do you even understand how shorts work? Just because someone took a bet that BTC is going down does not make them right about the bet. In fact, if they are wrong about the bet, they will have to cover it, which helps bitcoin price.
2006-07 and every other crash before that, the majority bet the wrong way and the markets did the complete opposite. Predicting markets is a fools fallacy.
Meanwhile, your claim about retail investors picking up bitcoin is false. Real on-chain metrics are indicating that whales are accumulating BTC in the 30-35k range (links below). The Defi Unravel crowd has been clamoring for over 5 years now, meanwhile bitcoin has become almost as valuable as gold, ethereum is more valuable than 450/500 s&p firms, major banks are building defi infrastructure, an entire country has adopted bitcoin as their official tender and the Fed has acknowledged it is impossible to ban crypto at this point (because a lot of the politicians own it, and the mainstream money managers/s&p500 firms are chasing yield - ergo they have exposure too).
Will bitcoin crash? I am not santa to be able to predict that, and neither are you, so stop making outlandish claims and look at fundamentals.
Post from April:
https://www.financemagnates.com/cryptocurrency/news/large-bitcoin-addresses-accumulated-90000-btc-in-three-weeks/
Post from May:
https://www.google.com/amp/s/cointelegraph.com/news/bitcoin-whales-accumulate-122-5k-btc-amid-latest-market-mayhem/amp
Post from June:
https://www.google.com/amp/s/www.cryptoglobe.com/latest/2021/06/bitcoin-whales-accumulated-over-2-billion-since-btc-dipped-below-40000/amp/
Pro
Cryptos aren’t stocks. Don’t analyze them like stocks.
Look at the fundamentals. BTC just now became legal tender in El Salvador, a historic moment. You aren’t realizing how massively important that is.
So Bitcoin is a currency again?
Chief
I’m shorting BCG after this post
Rising Star
BCG, seriously, stop embarrassing yourself
Conversation Starter
Stop embarrassing us, brother. BTC is here to stay.
Pro
Good thing I started investing in crypto 6 months ago !!!!
Cool. You’ll either be right or you’ll be wrong.
This is the definition of FUD
BCG are you giving this advice to clients?
Literally sovereign nations adopting BTC as their legal tender and you’re what…saying Jim Cramer is right about tether?
Conversation Starter
Lol the sovereign wealth nations adopting are el Salvador and pricing it as usd exchange. It’s another hype money grab hoping to get some of the new wealth spend in their country. No legit sovereign nation would let Bitcoin override their control over currency. Digital yuan and fed dollar is the dream of a nation to have complete transparency, visibility and control over spend. There’s a reason why China is slowing pushing out crypto miners and banning national banks from exchanging with fiat as the digital yuan is being pushed. They are warning their citizens to get out and let others hold the bag. Everyone says FUD but be realistic about the ruling class. They would never allow decentralized currency to get to a point where it’s a threat. Right now they are happy to let people play but that won’t be the case for long.
This aged quite nicely
Conversation Starter
I don’t like old stinky cheeses so let’s say it aged like a nice real investment
Rising Star
Yo BCG, I don't think you understand this concept... 🤣 the funny thing is the post reeks of so much boldness too... 😆
Chief
BCG in the mud. BCG in the mud
Conversation Starter
Lol
Does your platform have margin calls?
OP - I was rold to short...whats going on?
Most of this is true except crypto prices WILL continue to appreciate. Bull run will be business as usual in a couple of months after maximum fear has been reached
Due to BIS announcement?
I agree
So what does this mean for our stablecoin earning interest in blockfi
hold on!
Ok BCG, when will this fall happen then.
They don't have a clue.
So…. What do you recommend we do then?
Conversation Starter
https://mobile.twitter.com/Bitfinexed
Protect your downside and keep informed on the counter party’s argument. Don’t accept all hopium for face value. Right now there are a lot of speculative traders and newbies jumping in. Banks are interested cause it’s a another way make money on fees and market making and trading but no one has gone all in long on btc besides microstrategy a stagnant micro software company run a 2008 financial crisis fraudster pumping Bitcoin to keep relevant and to pump his massive holdings