Replying to Avatar MAHDOOD

Those drawdowns happen because of leverage I think. FTX and other exchanges going under is just too much sell pressure. I can see it happening again if coinbase explodes and saylor loses his IOUs.
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Toxic Bitcoiner 11mo ago

Leverage, rehypothecation, and the Dunning-Kruger effect.

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Zach⚡️ 11mo ago

Big boys are here, if they do that they'll be too big to fail and the bailout would pump price.

But maybe you're right. I just don't see how it would be possible. It would be too easy.

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Toxic Bitcoiner 11mo ago

Someone always has to book the losses.

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MAHDOOD 11mo ago

The big boys will get humbled too