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Hasn’t bitcoin repeatedly dropped 70%+ from record highs and then surged over that high again within a year?

ekjhgkejhgk 9mo ago
Yes. Many things which happened before are still noteworthy when they happen again.
jqpabc123 9mo ago
Yes it has. But as they say, past history is no indication of future performance. Current economic conditions are anything but "normal" by recent historical standards. A good indication of this is the fact that "real gold" has risen just as dramatically and at the same time as "digital gold" has fallen.
- DennisP 9mo ago
  Bitcoin has always traded more like tech stocks than gold.
  - jqpabc123 9mo ago
    The obvious difference being that tech stock value is based on some tangible product or service in a regulated marketplace. Bitcoin value is based on --- pure speculation and manipulation in an unregulated marketplace
simmerup 9mo ago
Yes, and such climbs coincide with Tether printing billions from unknown sources (most likely thin air) You can’t pump bitcoin with monopoly money forever, because the liquidity becomes too small
- reisse 9mo ago
  It's expected for Tether to print when the crypto market cap is growing, because most crypto trades in USDT. So you cannot reliably say what is the cause and what is the consequence here. Then, if the price was pumped and the liquidity didn't match it, it'd be a perfect target to squeeze (because the market is so highly leveraged), at least one trading firm should've attempted it.
  - simmerup 9mo ago
    But they rise by perfectly round numbers and mainly in response to falling prices What do you get by squeezing bitcoin? Once the liquidity is exposed as non existent everyone loses their money. There’s no hedge
joshuahedlund 9mo ago
It has, tho the rate of new record highs have been reducing from peak to peak: 10x > 3x > 1.5x
2OEH8eoCRo0 9mo ago
Yes it's a totally safe bet you should put your life savings in there.
zug_zug 9mo ago
Yes, technically. But terms of amount-of-money that needed to be reinvested to bring it back to prior highs (let alone ever go like even 50% past its prior high) is significantly more this time.

Yes. Many things which happened before are still noteworthy when they happen again.

Yes it has. But as they say, past history is no indication of future performance. Current economic conditions are anything but "normal" by recent historical standards. A good indication of this is the fact that "real gold" has risen just as dramatically and at the same time as "digital gold" has fallen.

DennisP 9mo ago
Bitcoin has always traded more like tech stocks than gold.
- jqpabc123 9mo ago
  The obvious difference being that tech stock value is based on some tangible product or service in a regulated marketplace. Bitcoin value is based on --- pure speculation and manipulation in an unregulated marketplace

simmerup 9mo ago

Yes, and such climbs coincide with Tether printing billions from unknown sources (most likely thin air) You can’t pump bitcoin with monopoly money forever, because the liquidity becomes too small

reisse 9mo ago
It's expected for Tether to print when the crypto market cap is growing, because most crypto trades in USDT. So you cannot reliably say what is the cause and what is the consequence here. Then, if the price was pumped and the liquidity didn't match it, it'd be a perfect target to squeeze (because the market is so highly leveraged), at least one trading firm should've attempted it.
- simmerup 9mo ago
  But they rise by perfectly round numbers and mainly in response to falling prices What do you get by squeezing bitcoin? Once the liquidity is exposed as non existent everyone loses their money. There’s no hedge

joshuahedlund 9mo ago

It has, tho the rate of new record highs have been reducing from peak to peak: 10x > 3x > 1.5x

2OEH8eoCRo0 9mo ago

Yes it's a totally safe bet you should put your life savings in there.

zug_zug 9mo ago

Yes, technically. But terms of amount-of-money that needed to be reinvested to bring it back to prior highs (let alone ever go like even 50% past its prior high) is significantly more this time.