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It's the greater fool theory. I lauched at friends of my fatherinlaw back in 2018 when they were buying bitcoin at 15k. Obviously it popped. Today it's down 5
by iso1210 4y ago
It's the greater fool theory.
I lauched at friends of my fatherinlaw back in 2018 when they were buying bitcoin at 15k. Obviously it popped.
Today it's down 50% on ATH, but it's still more than double it's 2018 bubble level.
- kgwgk 4y agoIt's not more than double 15k, is it?
- iso1210 4y agoYahoo finance says its 30,279.67 at the moment after a collapse in everything over the last week or so.
- kgwgk 4y agoYou wrote “it's still more than double it's 2018 bubble level”. If you meant “in the future it may be again more than double its 2018 bubble level” you could have phrased it more clearly. The 2018 peak was above 19k, by the way.
- DebtDeflation 4y agoWe will almost certainly see pre-2017 prices at some point.
- eric_cc 4y ago> It's the greater fool theory. Is BTC any more greater fool than USD? If so, why do you believe so?
- capitalsigma 4y agoPeople don't buy USD to HODL, they spend it.
- eric_cc 4y agoThis is bullshit and you know it. Source: savings accounts.
- capitalsigma 4y agoSavings accounts are not speculative investments that are expected to appreciate over time. They are for people to store easily accessible money in, so that they can spend it in the future. Nobody is banking on selling their USD to someone else at a 2x markup in the future.