Replying to c1e7b7fe...

Isn’t it a little ironic that in the midst of this, bitcoin is selling off? I mean, this is why it was created in the first place, right?
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Steven Day 2y ago

Not all Bitcoin holders are plebs.

Institutions have automatic sell triggers when having to rebalance their customer’s portfolios and others in turn when a price floor is hit.

Since Bitcoin’s market cap is still relatively small, this has an outsized impact on the price.

As mentioned in this thread if you’re hodl’ing for the long term this is just noise.

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c1e7b7fe... 2y ago

Yeah, I understand some of the mechanisms behind why it is correlated to the broader markets.

I guess I’m just thinking out loud that I’m surprised bitcoin still trades like this. Not that I’m complaining too much. Not gonna sweat a 10% move down, just gonna keep stacking.

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Steven Day 2y ago

I also wonder if the timing with the Federal governments FUD campaign on Bitcoin is also in play here.

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c1e7b7fe... 2y ago

Yeah, could be. I am pretty immune to that kind of shit at this point.