I am not reading this topic as I used to do because It is not fun for me anymore since I don't have any horses in the race but...
Image deleted
I am not going to lie, I was jealous about the price rise... till I saw this.
You'll probably see this as FUD but hey, I am not good at holding back from saying what I think.
I can feel bitterness here...
This is happening... the transformation has started: mindrust ----> the next roach
let's see what will happen after we'll reach a new ATH....
In March coinmarketcap showed 1.7 bil increase of the market cap and now 2.5 bil. It is unusual. This may lead to a new ATH sooner than expected. I think everyone knows it but just in case I'll remind that the jumps of tether's cap in certain days do not mean necessarily someone bought such huge sums instantly or fake tethers were 'printed'. In an official response to questions about these jumps, coinmarketcap explained that tether's data has some lags. There is one article that mentions the problems with the various blockchain tether uses:
https://www.coindesk.com/bitcoin-climbs-as-tether-gets-500m-injection-in-5-minutes("..However, archived versions of the page show similar readings over the past few days, suggesting CoinMarketCap's data did not capture the full supply previously. USDT runs on several different blockchain networks, including Omni, ethereum, Tron and Liquid....)
Regarding mindrust. I'll try to summarize his in my view very controversial explanations (if not contradictory with the sound mind). He sold at $4Kish, because:
1. He was shocked in the middle of the night and the fear made him sell.
2. He was overinvested, which in his case meant $40K in bitcoins and $80K fiat reserves.
Many of us are 100% in Bitcoin regarding fiat savings, including myself. In his case mindrust had the luxury to defend his positons by buying more at lower prices. Or just wait for the recovery, which is only a matter of when, not if.
3. He felt betrayed because holders decided to sell and abandon ship. In reality not many holders sold everything. Rather many sold small portions of their stash at the same time in preparation for the next weeks without income.
4. He bought one whole bitcoin just before the crash and having 10 bitcoins turned into a heavy dissapointment. I also bought a greater amount than usual just before the crash. So what?
5. Tether is scam and when it dies, Bitcoin will die too. I can remember 2017 when tether almost died and logically people bought bitcoins with it, so the price increased 3x.
6. Bitcoin is too volatile, while the fiat and other assets are more stable. Yeah, sure. Crude oil, ahem. Fiat printers brrrr causing international financial crisis and inflations, ahem.
7. Covid-19 is so scary, so no point in keeping his bitcoins. Seriously? I can understand this only if someone is sick of some nasty illness requiring a lot of money for the treatment. Although, many of us would prefer another way of finding the money for that.
8. It is better to trade shitcoins because they are more volatile than Bitcoin?!?!?!?. For his bad luck shitcoins are doing really bad. As always.
9. It is better to trade USD vs EUR, since there was a lot of volatility recently. For his bad luck the exchange rate is almost frozen in the last weeks.
I think the only reason for mindrust sell was No. 1. The next reasons he made up as excuses not to buy again at $4500, as he claimed. I'm really sorry for him because these two decisions obviously made him unhappy. And it is all about hope and happiness, which Bitcoin brings to the true holders. He may not realize it but he is becoming slowly into the next r0ach.
Poll
