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I'm actually impressed with the price of BTC being where it is.

It's not "under attack". We are currently living in a financial world of very low liquidity. There isn't much money floating around, and so any money people DO have, is going to be needed for spending. And remember, Bitcoin is money.

Since Bitcoin is a unique asset, literally the most liquid money in the world, people, businesses, even countries, are using it as such. In the past year, Bhutan has sold about 6000 BTC to stabilize their own finances. While this would have had some kind of impact on the price, it ALSO saved Bhutan from having to take an IMF loan.

Gold and stocks are far less liquid, so they do not suffer from this penalty for being too liquid.

The fact that we're staring a global financial disaster in the face and Bitcoin isn't at 50k is to be celebrated.🧡

BitcoinSandy 1mo ago

Because of its liquidity, the Market rinses Bitcoin at every opportunity. The more instruments created the greater the rinse. The attacks are multi angled, but tick tock

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Discussion

Sattrio 1mo ago

"Attack" implies their actions are designed to hurt Bitcoin. Yes, there is speculation, scheisty trading, and probably some manipulation, but these are not attacks. They are not trying to bring Bitcoin down. They are just the inevitable result of people feeling like they need to play games to win. Tale as old as time.

BitcoinSandy 1mo ago

Indeed, true. I’m implying from a Bitcoiner perspective that it’s all fiat system attacks against a sound money. Also there is ultimately an attack going on from Central banking to neuter Bitcoin’s true ideology and to only allow a paper controlled version