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by NicoJuicy 1265 days ago

Evidence of history?

It took COVID to get Bitcoin back up. That's it

Not history, just a rare event.

No one cares about Bitcoin anymore.

2 comments

You seem to have forgotten the other... IIRC 3 (?) times it has gotten back up ?

(But feel free to short bitcoin of course - not the kind of risk I would take.)

Other 3 times?

Error. 1 long streak before COVID and a large decline then too.

And 2 times jumping around during COVID-19 = over a very short period.

The previous times the bubble popped : around $30, $300, and $3000 per BTC.

The ~$300 one immortalized in this parody music video :

"Blame it on MT.GOX" :

(Note that this one was NOT about MT.GOX going bankrupt...)

And one of the biggest jumps in Crypto ( the one outside of Covid) was when banks jumped on it ( end of 2017 i think).

I'm not replying here again fyi. I don't care about crypto anymore ( went out at 2018 before the crash), I do care about others losing money :).

If you think it will rise again, fine. Go for it.

Almost every speculative asset was up then, capital was desperate to go anywhere as borrowing was cheap and savings rates were high.

Explain why Bitcoin went down before COVID then.

As you say, borrowing was cheap. There was no reason for it to decline after 2018 till 2020...

Reminder: other speculative assets didn't decline then :)

As I said before, Covid, with boredom and free money. No one used Bitcoin as investment and not many would borrow money for buying crypto.

Still: no one cares about Bitcoin anymore except some select people that live in the past.