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Because the crash was because of the stupid people at Celsius doing stupid things, not because crypto was bad.
Hey is that you looking into my window? I’m naked!
Because it went down for no reason
Conversation Starter
It’s almost like markets don’t only go in one direction 🤷♂️
Even in a downtrend, we are not going to go straight down. Bear market rallies happen and shorts need to cover. That's why even in a down market, you can't just blindly short and expect to make money. Today was once again correlation with stocks and rate confirmation = green.
volatility, uncertainty, fear, support, you name it, will continue to fluctuate for the near-term while economy is on brink of collapse globally and people try to figure out where things are headed and how to appropriately hedge risk
Conversation Starter
Really? Y'all think this is a good spike upwards? I think this is premature capitulation. It needs to head much down south given what's happening in the macro environment. Stocks too went up today after the announcement
Don't pay too much attention here. People refused to believe we would go sub 30k and sub 20k months ago and look at us now at 22k...
People thought BTC only fell because of Luna even though we were already falling before that. Now it's because of Celsius. Bruh. It is literally following stocks with extremely high correlation. BTC 500 as I like to call it. We've been in a bear market for months. Luna and Celsius are not the main reasons we are down, not even close. They assisted in an already major downtrend. We'll continue to fall if the macro looks cooked. BTC is at least a decade from being an "inflation hedge."
I'm sure when we go to 15-18k someone will say it's because of Elon or some crap.
As for why we went up today, most likely because the 75 rate hike was priced in from yesterday, so confirmation during FOMC was "good news." Markets hate uncertainty. Imagine they announced they're actually raising it 1% lol. Don't fall for this bull trap.
The crypto market is somewhat correlated with US equities, which had a good day today. There was also a lot of crypto FUD over the past day or two, which has diminished.
Bill Gates