People are saying the bottom just dropped out of nVidia and all the companies they are propping up.
"The money flows in loops: Nvidia invests in AI startups, startups commit to cloud spending, cloud providers purchase Nvidia hardware, Nvidia recognizes revenue, but the cash never completes the circuit because the underlying economic activity—AI applications generating profit—remains insufficient."
"forced Bitcoin selling ... would drive prices to approximately $52,000—a 42% decline from current levels" (over the next 4 months).
Similar to what happened during the dotcom/telco boom/bust. Telco hardware manufacturers invested in telco providers and the telco providers used that money to buy telco hardware from the telco hardware manufacturer.
Yup, that's even referenced in the article.
It's probably why it was easy to detect. It's something we've seen before, so we know what patterns to look for.
