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true. the nasdaq is down 25% from its peak, as well, but what i think this guy is trying to say is that today there is a significant break in the long standing correlation between the nasdaq and the price of bitcoin.

obviously way too early to tell if it’s meaningful or the beginning of a new trend

Lysander Spooner 2y ago

Curious: Is there anything stopping a whale from selling to himself for waaay above index price to pump it?

A market determined rate of supply would +/- with demand, stabilizing the price, but Bitcoin opted for a centrally planned rate of supply, artificially fixed in advance, so I can't see any stabilizing mechanism.

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brendan 2y ago

it’s a good question and i’m not sure i can answer it. i do think this sort of manipulation happens, but i don’t know if it has long term implications. it could definitely move things in the short term, cause a rally or the opposite.