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How 2020 set the stage for the 2021 bitcoin bubble
- ephbit 4y agoShe writes about Tether basically injecting non-existent money into Bitcoin to prop the price up after it had dropped to ~ $4000 in March 2020. She also claims that by late 2020, miners stopped selling Bitcoins and instead .. > They took out loans, which allowed them to buy their equipment and hold their bitcoins. Marathon even bought additional bitcoins! > Borrowing against mined bitcoins, and not selling them, reduced selling pressure on bitcoin’s price in dollars. US-based miners used this model heavily from July 2021 onward
- stevenjgarner 4y agoSo is the implication that the current ~$20k BTC is a "floor" in response to the discussed selling pressures from stablecoins, end of stimulus and holdings by miners?