/biz/ - Business & Finance

>>50383859
if we're talking about individual whales, it was true, from about $10 to 20k, when many cashed out, but there wasn't enough exit liquidity to keep the price from collapsing.
the whales who didn't get out, combined with institutions, eventually pumped it to 65k, and anyone with two functioning brain cells sold when it was above 50k.
the problem with bitcoin is there's vanishingly little exit liquidity available to anyone with a large position. the michael saylor's of the world need a lot of dumb money to enter the system, and it's difficult to see where that's going to come from, especially as we enter a recession.
i won't even say what my price target is for 2023, but it's lower than the year.

>>49672834
nothing but air down to 6k