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It's no more illogical than, say, the progression of the SPX500 and Dow Jones Industrial stock market indexes between 2019-2020-2023. "How does the market not
by crtified 3y ago
It's no more illogical than, say, the progression of the SPX500 and Dow Jones Industrial stock market indexes between 2019-2020-2023.
"How does the market not care vis-a-vis the gruelling recent pandemic, ongoing supply shocks, mounting climate change disasters, population curve declines, military instability ....... ?"
In Bitcoin's case, it needs be remembered that:
* Bitcoin as the original (and, in some ways, least sullied) crypto asset will have the greatest resilience
* Despite these exchanges having the greatest Trade Volumes, they are each only involved with a minority of the total global assets. That is, most Bitcoin that exists, has never touched Binance. Even more, most Bitcoin that exists, existed before Binance did.
* Markets aren't that predictable - attempting to trade a market in a buy/sell manner based upon whether today is a seeming Good News Day or Bad News Day ... well, if it was that easy, we'd all be doing it trivially
* The previous point is also adjunct to the fact that, for example, "obvious selling time" is most often leapt upon (with leverage) by amateur traders - whom the market then liquidates with a sudden contrary movement. A cynical manipulation certainly not unique to crypto markets, but yes absolutely ripe for them.
- pid-1 3y ago> It's no more illogical than, say, the progression of the SPX500 and Dow Jones Industrial stock market indexes between 2019-2020-2023. > "How does the market not care vis-a-vis the gruelling recent pandemic, ongoing supply shocks, mounting climate change disasters, population curve declines, military instability ..... The progression was completely logical. Central banks deployed trillions in QE. Market participants decided that betting against institutions with so much money was not wise and joined the bull ride. We are now paying with inflation.
- crtified 3y agoI agree. Remove the double-negative in my phrase "no more illogical", and my argument is that there is logical cause-and-effect in both situations, despite the easy potential for assuming a different outcome based upon select, surface assumptions.