For some reason, I think someone (or group of people) is supporting bitcoin and not letting it go below $6k...may be its not worth to mine if the cost of electricity is more, etc... Any thoughts....
I have stayed away from btc ever since future trading was opened to wall street. Those guys are too smart and too greedy. Can never beat their trades
Incurred huge loss in this scam. Shall I sell all & consider it as sunk cost? Or will it ever go to $15-20k level again?
A fool and his money are soon parted, consider it a cheap lesson
In a way, that's how all markets work. By people paying what they think is the worth of the asset. There are whales supporting the price by buying more at that point. Now think why they would buy millions worth of bitcoin.
It’s not an asset. It has zero intrinsic value (metals, commodities) and does not represent any current and future productivity (stocks, bonds). It’s only value is the belief you can sell it to the next mug for more money. It’s a ponzi scheme by definition.
Speak for yourself. I'm holding since 600. Didn't sell even a fraction during any bull runs. Plenty of salty fuckers buying at the top and rationalizing their losses instead of accepting stupidity of buying high.
No Regulation = A suckers game for the masses. The top hodl’ers (1%) manipulate and literally control the market, scooping up millions from suckers each time they orchestrate a move.
This is the case in all markets. The scale makes it harder to spot is all. Whale watching sections are present in most trading books that deal with the sell side afaik.
Manipulation does exist in all markets but not to the scale we see with bitcoin. Ref: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3195066
Lost 40k - it’s a scam
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Kill It Today
The main people getting rich as hell from bitcoin are the people that came up with this shit. Fucking scam