/biz/ - Business & Finance

The problem with bitcoin is that only 15 billion dollars actually went into coins, to support a market cap of ~500 billion.

Who are those 15 billion? People like you and me who at the end of the day just want to cash out and buy their lambo.

Problem is there aren’t enough buyers anymore. The illusion that bitcoin only goes up has died. As a result, the holders are slowly selling out, trying to gradually collect their profit without moving the market too much. This will continue until 3k-4K.

Pic related, typical bitcoin order book. Note that the sellers are much larger than the buyers. This was last night and bitcoin has dropped 300 dollars since then.

Just look at this, the size of the sellers compared to the buyers. This shit is going down.