brock on Nostr: I know there is a lot of leveraged trading on Bitcoin in both directions and that ...
I know there is a lot of leveraged trading on Bitcoin in both directions and that adds to the volatility in both directions. But over a long enough timeframe the accumulators of the physical bitcoin generally move the market up as true scarcity comes into play.
This 6-months range bound falling price action is weird. My instinct is that stackers and hodlers should have broken through this by now.
Published at
2024-08-29 11:47:49Event JSON
{
"id": "f79ed358ede28720690192ba9bf2556280edc4c013ef232d1f554477f6b11412",
"pubkey": "bd7e3102639e7ca349ef27e2210df6d02658e019a22ac65939c5e1adcce5db88",
"created_at": 1724932069,
"kind": 1,
"tags": [
[
"e",
"d272df0145ef7b3119e7b070adc7bcdda80dbe9b6094c48cec82bc65487a96e4",
"wss://bitcoiner.social",
"root"
],
[
"e",
"c43870950547f5dd42ccf7e77610eeaa0fa51bda5e6abc51181b9d00c04cdc14",
"",
"reply"
],
[
"p",
"8aa642e26e65072139e10db59646a89aa7538a59965aab3ed89191d71967d6c3"
]
],
"content": "I know there is a lot of leveraged trading on Bitcoin in both directions and that adds to the volatility in both directions. But over a long enough timeframe the accumulators of the physical bitcoin generally move the market up as true scarcity comes into play.\n\nThis 6-months range bound falling price action is weird. My instinct is that stackers and hodlers should have broken through this by now.",
"sig": "7dc60b55141a537f55f73937cef6ecc754e192c1a3a460c34fd8f977724b8ce2d3f4949b2b4393e31ee66f8d4bc04d8a1f63c7b171bfc39e32d943a7f5a8fe99"
}
