3 ms·
NFTs and DeFi was this pump. New NFT "drop", someone purchases, takes a DeFi flash loan, "purchases" it from themselves for a ridiculous amount, sells it to th
by tjbiddle 5y ago
NFTs and DeFi was this pump.
New NFT "drop", someone purchases, takes a DeFi flash loan, "purchases" it from themselves for a ridiculous amount, sells it to the sucker, pays off the loan.
I'm bullish on crypto, but this is just another cycle. Same as - what was it, 5 years ago?
Maybe 40k BTC will be the bottom... maybe it'll slowly taper down to 30, 25.. then it'll be quiet for a while, then...
- mikro2nd 5y agoS'ok. Remember when 21k was the ATH...
- throwhauser 5y agoWhy such a narrow range? Why wouldn't it fluctuate between $0.10 and $10,000,000.00?
- telxosser 5y agoI hate crypto but I think this is a pretty easy trade long at $40k. I am bearish long term though because the narrative that anyone can get rich from crypto has time decay. It doesn't just have to go up but it has to go up so much that the guy investing $10k thinks they will be "rich" from it someday. That is just so unsustainable as price goes up. When that narrative is lost then it is just standard commodity speculation like gold/silver. It took gold and silver 27 years to take out the 1980 high. The oversupply from mining that very high prices create makes the boring bear market longer.
- HeadsUpHigh 5y agoBoring bear market is great. Now there are a ton more things to do. Maybe we'll finally get some proper value deals off defi coins.