/biz/ - Business & Finance

Did you consider that maybe the market has simply discovered the correct price?

Isn't that a good thing?

Half of the cryptosphere is crawling in its skin because Bitcoin is no longer volatile. But they do realize that, in order to actually be functional, a currency should not be fluctuating by double-digit percentages, and certainly not 2x or 3x or 10x'ing? Right?

Functionality and value-stability IS the goal, right? Well, it looks like stability has been achieved! So shouldn't the cryptosphere be celebrating? That's funny though, they're not! They're bored and anxious.

If I didn't know better, I'd say it's almost like the vast majority of the interest in BTC is in it rising in value versus USD, not in how it will "change society for the better." But of course, I'd never be so cynical as to believe that this is the true motive!!!

>>11118949
BitMex has become extremely popular and it is now estimated that of the total BTC float there's about 10-20% locked up in BitMex accounts. These Bitcoins won't be sold, they'll just be bet on future price. That's A LOT OF BTC. If you want to long, you need an opposing player that's willing to go short at the price you want to long. So as the big ass monstrous Mt Gox whales all go long market buying and obliterating shorts. New Bull run commences.