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Could someone explain me the intuition behind the BTC drop? Why changing the owners of a small fraction of an asset that is not affected by any policy should re
by melenaboija 5y ago
Could someone explain me the intuition behind the BTC drop? Why changing the owners of a small fraction of an asset that is not affected by any policy should reflect this? Is it just the feeling from some investors that BTC can not be taken seriously?
It is hard for me to understand the logic of it and the only reason that could come to my mind is that some investors don't understand what they are buying.
- im_down_w_otp 5y agoInsofar as I can tell I think it's the opposite. They know exactly what they're investing in, and acting accordingly. Investment activity around cryptocurrency doesn't look at all like the incredibly boring world of currency swaps.
- Geee 5y agoMaybe it was someone protesting, or sending a message. It was a big trader(s) selling or shorting a lot of bitcoin and causing a cascade of liquidations on leveraged trades (over $1B). However, when the margin traders have been liquidated, the price has a better support for continued upside.
- cwkoss 5y agoThe tinfoil hatters all believe it is the global banking cartel trying to punish El Salvador for fighting dollar hegemony. Seems a bit farfetched, but maybe.