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Nothing stopping it from going right back up again like it always does. The long term trend is up and to the right like nothing else. Buy the dip. Bitcoin is a
by Sammi 6y ago
Nothing stopping it from going right back up again like it always does. The long term trend is up and to the right like nothing else. Buy the dip.
Bitcoin is a black hole that swallows every other asset, because it is a better store of value than everything else.
- lamontcg 6y agoNot how a panic works. Markets have too many positive feedback loops and they overshoot. And since bitcoin is actually backed by currency once it is all drained in a panic then it goes down the drain.
- Sammi 6y agoAre you trying to describe a panic such as a run on a bank? Because that only makes sense with fractional reserves. Bitcoin has a known and fixed supply with no fractional reserves. There have already been three separate huge "panics" where the Bitcoin price has gone down 90%. But these don't even register any more if you look at the long term price chart. Zoom out. The Bitcoin price is going up and to the right like nothing else. It just keeps on going.
- lamontcg 6y agoBitcoin is fractional reserve. There isn't $982B in currency backing it. If everyone tries to sell at the same time it'll collapse after $10B or so leaves. Prior collapses have been from small enough heights that individual Billionnaires like Jack Ma have been able to rescue it. At some point its going to hit a crash where a billion here or there won't be enough to bail it out when it goes down.