pull down to refresh

If I were still interested in stock trading, I would have viewed this article as a major contrariant indicator. It may bother some ngu people, but this kind of attention could be a huge "sell" signal. Of course I'm not selling, but I can see this sentiment predicting a major crash in bitcoin's fiat price. Maybe some stupid bitcoin treasury company CEO over leveraging his stack, spooking all the low knowledge ETF buyers?
We may all get another crack at buying some bitcoin for a low fiat number.
Honestly, these big cycles ain't ever gonna be the same. I'd even go as far as to say they'll never happen again, at least not with the kind of crazy volatility we're used to.
reply
So - this time is different? That sentiment always scares me 😀
reply
36 sats \ 1 reply \ @0xbitcoiner 4h
Yeah! Once big companies get into Bitcoin, that's a total game-changer. My 2 sats!
reply
We'll see. I guess either way we win in the long run.
reply
36 sats \ 3 replies \ @ladyluck 4h
That's a very sharp observation. The amount of media hype lately does feel a little frothy. Do you think this correction would be a quick 'flush' or a more drawn-out bear market, like the one we saw after the 2021 bull run?
reply
I don't pretend to be an expert. I can see the weaker "treasury" companies who really only bought bitcoin to shore up shitty balance sheets get flushed. I guess it depends on how many dominoes start falling.
reply
36 sats \ 1 reply \ @ladyluck 4h
A lot of balance-sheet buyers were momentum hedges, not conviction. When the CFO needs liquidity, “digital gold” often becomes “available-for-sale
reply
Exactly what I'm thinking.
reply
Ah, the good old 'everyone's talking about it so it must crash' indicator. Classic. Wouldn't surprise me if some overleveraged firm does indeed cause a temporary wobble. Here's hoping for that 'low fiat number' opportunity!
reply