Fixed your post. Someone barking at the moon (aka a looooooooooooong bull move, regardless of why it is moving higher) is a fool, not a hero. Peter Schiff has been barking about the long sustained bull run in equities for at least 2 decades. Eventually he might, repeat might, be right. In the meantime many will have earned small and large fortunes. PRICE is always right, fack the reasons why. Reasons can't be spent.
The ones that bark at the nonsense we are seeing (me included) , try to apply some common sense to what a market should be. But there is factor that breaks everything apart -> Tether. The day Bitfinex dissapears, and that might never happen, those coins will fall horribly. Have you seen at the crypto market website the general move of the coins there? There are an 80% of coins that have gains over 10% in the last 6 months. I am talking about fartcoin and names like that. Surely that money does not come from people. Even that shit that Trump is trying to sell, the Tron coin has gained incredibly. There's no debate, just nonsense.
It's really genius in a sense. Let the Tether fraud run wild and free creating this bubble, enrichening the entire industry. And then take down Tether to pop the bubble. The industry will probably never die because Coinbase has amassed like $10B of cash reserves. Tether is not too big to fail for crypto at this point. It will be ravaged. Coming soon to cinema.... When?
@semperfrosty @NoahA @SunTrader @Tokenz @johnarb I'm still waiting to see what was so monumental about 100K???? You guys were relentless spamming the forum about 100k being some pivotal moment in bitcoin lol....so far crickets.
These drops are nothing compared to when we get the mother godzilla of all dump candles. See how easily we drop $10k. Like butter through knife. When the real dump begins we will not drop by $10k, but below $10K per bitCON real quick. Just cascading liquidations as margin gets liquidated with the grand finale; Tether going bust. It's just nothing but extreme leverage. Loans collateralized with Bitcoin and used to long on margin (that's Tether ponzi in a nutshell). This will not end well. Has the music already stopped? Or are they going to print some more Tethers and try pump it higher?
You could talk about bitcoins technology in the meanwhile. Oh wait, maybe better not because of what of a garbage it is. Bitcoins only technology is Tether printing faux dollars and number going up.