the same game is still being played. pump alts with btc bough for free with tether, use btc to pump alts including bch. dumps alts while buying btc and cashing out some real money. so sick of it.
I’m a little disappointed that Bitcoin dropped from 60k to 38k in a few weeks. But it was also something that I expected could happen since it also went from 20k to 50k in just a few weeks. People are calling this a crash based on the dollar amount. If you look at the margins in which Bitcoin has been swinging however, this is pretty normal imo.
All assets, whether they are stocks or gold or houses, what have you, have periods where they inflate to a high price, then it drops when it gets overheated. A pump and dump scheme happens once and then is gone forever. The fact Bitcoin is still relevant after a decade shows that this isn’t the latter; but the former.
Everyone is focused on the 60k-30k in a few weeks. They’re not paying attention to the 10k-30k in one year timeframe. Market corrections need to happen to validate and reaffirm the strength of an asset. Going up and up forever makes an asset look shady.
I’m hodling.
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