Subnostr

I like to check out publications like #Forbes from time to time to see the general take on #Bitcoin since I am pretty lost in the weeds these days and want to know what they feed the average person

The narrative seems that #BTC has been crushed by several frauds like Luna and FTX and now with higher for longer interest rates, people don't need to be risk on so they're not putting their money into Bitcoin (as a risk asset)

While companies in the space are finding it harder to operate, raise capital, and expand their user base

Sure sounds like music to my ears, I remember staking at those nosebleed prices of 58-70k thinking what a mountain it is to climb

I am enjoying the below 30k, Long may it last.

https://www.forbes.com/sites/digital-assets/2023/09/23/bitcoins-fed-nightmare-is-suddenly-coming-true/

343PG 2y ago

The real story is that the US 30 year bond yield is now above 4.5%, whereas a couple of years ago it was under 2%. Combine that with the fact that Bitcoin still sits above its 200 week moving average despite this.

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Discussion

TheBitcoinManual 2y ago

I'm still seeing a bunch of articles of late saying bitcoin is primed to break down even further under these conditions, not that I think BTC is a concern for the fed but I guess its still seen as a risk asset and needs to be taken down a peg like the stock market as part of this tightening cycle

343PG 2y ago

Here’s the rub.. the lower you force Bitcoin, the less there is available in dollar terms to buy and the stronger hands it ends up in. As a wise man once said “My bitcoin can remain in cold storage far longer than the market can remain irrational.”