Your Retired Grandmother ‘Never Had As Much Fun’ As She’s Having Trading Bitcoin While Playing Poker In Vegas

Your Retired Grandmother ‘Never Had As Much Fun’ As She’s Having Trading Bitcoin While Playing Poker In Vegas

Listen, Bitcoin entered a bear market yesterday. I know the crypto crowd won't like that characterization and they'll trot out the usual list of excuses for why you can't think about Bitcoin in those terms, but it is what it is. https://twitter.com/Reganonymous/status/936239561717542912 As you're aware, it was a truly manic day for everyone's favorite "money" that isn't actually "money". And the news flow didn't slow down even after the rollercoaster ride from an intraday peak above $11,40
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One thought on “Your Retired Grandmother ‘Never Had As Much Fun’ As She’s Having Trading Bitcoin While Playing Poker In Vegas

  1. Maybe we’re just a touch early calling this a bear market? I mean you certainly may be right but… this dip was overdue, is still well within the parameters of former corrections – wild as they may be, and not much has changed about the fundamentals.

    Some people didn’t pay taxes. The IRS has plenty of resource aimed at people in other markets as well. Apparently most folks don’t like paying taxes. Who knew?

    This disruption is making a mess, just like every other before it. Doesn’t mean its not going to sort itself out.

    This space was way overbought, as we all know, but maybe yesterday was triggered by a redeployment of capital out of the space by certain players based on a clearer sight picture of the regulatory hurdles to institutional adaption. This market was fine before institutional money and I suspect will be fine waiting for it to show up.

    Maybe it was a trap set by whales. Wouldn’t be the first time in this market or others.

    Maybe it was just sheer volume on the exchanges and they really did just crash and that started the cascade. Maybe, maybe, maybe. These are just a few of the potentially real causes for yesterday. And if you were covering any of this market, beyond just requoting people who are generally directly threatened by this new technology, I have no doubt you’d be shedding some light, but as it is you just sound like a hater with a lot of emotion to spill because this thing won’t fit in the box.

    My, believe it or not, respectful two cents.

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