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Just looked at the price of BTC for first time in a month, last I saw it was hanging around 29k. Its at 22k now. Theres something really unnatural about how harshly its fallen, the chart is almost a perfect slope instead of the random fluxuation you expect out of markets. Me thinks that the FED and Friends have gone from trying to silently and slowly assasinating crypto from afar to straight up murdering crypto in broad daylight
1 month ago
Bitcoin is still rarely used for commodities purchase, so there's little real goods that can peg to it. But a lot of bitcoin volume is speculation, meaning it's left to wild whims of supply and demand.
Just remember that bitcoin as a currency is still insanely young. So right now it's just being ping-ponged by investors. · 1 month ago
From what I can tell, the crypto markets have been very cyclical since the beginning, with massive returns during the bull markets and 90%+ declines during the multi-year bear markets that follow. A crash from $29k to $22k over several days is not even close to the most severe crash Bitcoin has seen. To my eye, this is normal. · 1 month ago
Bitcoin crashes all by itself. Nobody deliberately leaves money on the table if it's there for the taking. · 1 month ago
Could be all of the above but don't forget that *everything* is down right now, not just crypto. · 1 month ago
That could be, although I think it’s more likely because of recent high-profile rugpulls and scams eroding confidence · 1 month ago