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In addition to the normalcy of corrections after runups, we had the unwinding of the unsustainable treasury company fad and Square increasing bitcoin spending.
I haven't seen anything about the volume of new spending at Square terminals, but I did write about how it might reduce purchasing power.
ok, bro. Let's find out. How much sats we betting?
@remindme in 2 months
5000?
ouuuw, not looking good for you mr. @freetx. You did say February, so does that mean technically we have to wait until Feb 28 to settle these 5k sats?
nice! At this rate, 5,000 sats is worth nada anyway.... getting cheaper for you by the minute.
(but I just checked, and we actually made the deal on Nov 22, with bitcoin trading in the 80s, so I guess you remain directionally right for now!)
Ladies and Gentlemen
Please put your money where your mouth is and Place Your Bets!
Bitcoin has always had sizeable corrections after big runs. None of this is mysterious....
By Jan / Feb I'm willing to bet that price will be back up ~110k.