Weak hands getting out. Happens after ever massive pump. People think they will get rich in weeks if not days and sell when they get bored.
Google banning crypto ads helped
Will the crypto faithful see this as a buying opportunity, since they were pumping it big time at these price levels ... or is their faith waning?
The price of bitcoin is based on greater fool theory. You only buy it because you think someone else will pay you more for it later. When people see the price dropping, they stop thinking that. There is no fundamental value supporting it
The same can be said of gold
Or any investment ... i sure as shit don’t buy stock because I think someone else will pay less.
This is a good thing and was expected. I think the next bull cycle should begin soon
When it goes to 0 and people forget about the last cycle...
Good time to buy, might dip some more though.. buy it even with blood on the streets.. “even if they are your own.”
Many forward thinking leaders are looking into to erupt corruption in the system. I see a growth to it.
Very few people give a shit about this. All of the people that did knew about it years ago when it was ten bucks or a hundred bucks. That is as much value as bitcoin has for those reasons. Now all the new people just care about making $$ off it and the price is pumped to the moon. If all of the new people got bored of making money the price would plummet again.
Last week with John Oliver
Selling for taxes. That is all.
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The hype wore out
It totally whored out