Bitcoin
Bitcoin
Out of context: Reply #1812
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- Bennn1
Iam still a newbie with Bitcoin and learning but i now understand the scheme... Some rich people manipulate the thing by buying many Bitcoins, it start a wave up, lot's of people jump in, the bubble inflate and suddenly these rich people pull out with massive profits and the bubble burst. Repeat.
Am i right?
- Certainly seems that way.Continuity
- except for 'rich ppl' and 'bitcoin' ... it's just how markets work.
And there is still lots of value in bitcoin, lots of the big investments will hodl.uan - they a re betting against gold and the dollar as value keeper. and they expect bitcoin to stay around for years.uan
- Nothing to do with rich ppl, Bennn. It just lingers around until volume kicks in and people start buying. It goes up and what goes up must come down.NBQ00
- Nothing just goes up in a straight line all the time. Bitcoin already went from like 10K’s to 40K’s on this wave which is a big move. So naturally...NBQ00
- https://twitter.com/…drgs
- ...it has to correct the move a bit. Just how markets and technicals work in trading and charts.NBQ00
- And most of the time the majority of people usually buy at the top or close to the top because they hesitate and then they chase due to FOMO.NBQ00
- did you look at volume in relation to price movement to draw that conclusion?shapesalad
- you're perfectly describing bubble scheme, like beanie babiesmonospaced
- there's no other reason the price changes than the volume of trading, nothing at allmonospaced
- Unfortunately, it's not based on news or anything related to anything tangible or significant like a business would have.monospaced
- A regular market works the same, except you can buy on futures prospects, business decisions, transparent competition and reporting. So, not the same, uan.monospaced
- Mono, you should’ve invested in Bitcoin 10 years ago. Or bought Beanie babies lolNBQ00
- they just don‘t have them yet for bitcoin but they (big banks) made those calculations and they know it‘s here to stay.uan
- or they bet on it...probably because they know technolgy behind it is superior than what we are used to.uan
- @uan show me one US financial institution what openly invested in bitcoin.
not alt-coins or "creates its own crypto" stuff.sted - paypal though idk if they are still USowneduan
- according to a lawsuit in 2002 paypal is a fintech company not a financial institution.
NEXT.sted - May 2015 lawsuit about PayPal credit accounts also makes it clear that it isn't a financial institution.sted
- I wasn't aware of those categories. so I bet cashapp is also fintech.uan