/biz/ - Business & Finance

[Anonymous No.22676981]

What's your explanation for why the last little bullrun topped where it did?
1) ETH got congested and it became impractical to use, causing the whole hysteria to come to a grinding halt; or
2) Whales saw that the inflow of dumb money was petering out as we got to F tier "food" scams and that it was time to take profits;
3) Some combination of the above, or a third cause not listed?

[Anonymous No.22677010]

I honestly think those all had influence, but I think fear about tech stocks, BTCs correlation to the S&P, and a small bounce in the dollar got people spooked and everything started to dump.

[Anonymous No.22677021]

>>22676981
About 5000 new shitcoins were added between 2019 and 2020 to cmc.

Five fucking thousands.

This means that the entire crypto market cap is totally and 100% fake.

[Anonymous No.22677060]

>>22677021
99% of that is penny stock bullshit with no real volume, i don't see it as having any effect on the major players.

[Anonymous No.22677079]

the biggest scam in the world is tricking people into believing correlative things are causitive
financial markets
global warming
covid

[Anonymous No.22677098]

>>22677079
td;dt everything is priced in

[Anonymous No.22677192]

>>22676981
I miss this little nigga like you I wouldn’t believe.

[Anonymous No.22677267]

>>22677079
I think you're right. All of a sudden people have been talking about BTCs correlation to the S&P so much that its becoming self fulfilling at points. Same with the stupid CME gap narrative.

If people keep repeating it it almost becomes true because a million TA people start drawing it on their charts like its some fundamental truth of how crypto moves now.