A backlash is normal in crypto currency; and if you have paid observation enough, you would notice some sets of individual trying to drag bitcoin into the situation that xrp has with sec. This is normal, creating fud is a strategy even if it does not align with decency. It is up to newbies and professional investors to be at an alert on wheter to take profits and re invest; or continue to hold. The best case scenario is an individual research and a good decision.
4t
I agree. The bigger the jump in price for BTC the more the public and regulators become aware. This is expecially 'jarring' I would imagine to government and
regulatory officials. I mean on December 24th, 2018 the price I sold some Bitcoin for was $3,900 or so with
www.coinbase.com fees.
Now, being 'out of sight' and 'out of mind' these same government regulators/big centralized money and the rest goes from like, I think it was a 'low' this
year. (see
www.cointracker.io), if I remember right on March 13th, 2020 the price was like $5,028.00 or some such. Just yesterday the ATH was $28,261.89.
Thus, 'all hell has broken loose' about this whole BTC/Crypto thing, back in the press and having the attention of wealthy/banks/centralized and government
regulators. In other words, the 'sh*t' hit the fan. You can also tell by how 'upset' people suddenly become again about this BTC/Crypto price and 'most' of the
people complaining the most are 'secretly' pissed off that 1) it is decentralized and they can't control Bitcoin and 2) they never got any BTC and missed the boat
so they think.
So with 'great visibility' comes 'greater scrutiny' ...so we will see what people 'attempt' to do to throttle 'bitcoin growth' or again assistance bitcoin or whatever
again, centralized wealth and power tend to be 'upset' about decentralized wealth and power they don't have access too...especially if the 'mistakenly' dismiss
BTC/Crypto in the past as 'funny money' and are shown otherwise.
pissed off is an understatement
the difference now IMHO is what happens if every time the BTC price corrects say 20-25% or so there is no loss in the price? In other words, if large institutional
money like GrayScale level are into BTC/Crypto for long term hedge against 'printing of $$$ in mass worldwide" and/or inflation and on every frigging dip
more pile in FOMO wise driving the price up and up? I mean, bonds are not gonna protect your portfolio over inflation with the (probably needed recession and
pandemic and all) money printing to get past these crisis. So bonds, say, not providing even protection to keep your buying power even vs inflation because
of all the money printing...gold is kinda 'unwieldy' ....you can buy property..but that usually does not shake out well till the 'end' of whatever inflation or
recession problems you are experiencing..thus you see all the Investment Trusts like GrayScale jumping into the BTC pool and buying. IF that is the case
any 'normal' dump in price will be simply 'grab'd' up by firms like GrayScale on long term inflation hedge and the FOMO may be frigging dynamic and rinse/wash/repeat
But pushback, yep, dubious proposed regulations, yep, pushback from govt and traditional centralized wealth..yep...
But if you are a long term Investment Trust like GrayScale and need some kind of hedge for a 'supposed' future 20-25% correction to the stock market and
With all this inflationary printing of money.....we have maybe not even got to nuts yet in price. $30k/$50k/$80k/$100k etc, etc.
So let the dubious proposed regulations begin! FUD/Fear/Dismay!
But, maybe, just maybe, all this will be 'moot' if many, many institutional long term investment funds run to BTC/Crypto as the prefered hedge on such stuff.
Doom or Boom we will be the first to know.
Pretty heady stuff for a guy who mined his 1st Bitcoin (1 BTC per Day) at the 'gasp' high price of $150.00 in 2013!
Sheesh!
Brad
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