This dramatic price drop over Germany selling a fraction of its coins and the Mt. Gox FUD is interesting. Is there that much of the market trading this asset vs storing wealth? Where is the demand for Bitcoin to soak this up / i.e., why is the demand side so weak? Is this a reflection of general “jumpiness” and lack of conviction generally in the markets? Is it a reflection of low global liquidity? Miners selling to operate post-halving?
Just a few thoughts on the last week. Feels like a major move down might unlock more demand, but might be just as likely to scare it off, as well.
Phil
npub1t4…w2j9u
2024-07-08 16:22:45
Author Public Key
npub1t49wf83gf22szm55ftjullyjs3cv9s7s3hky6f9fwfyjx7xfst6qaw2j9uPublished at
2024-07-08 16:22:45Event JSON
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"content": "This dramatic price drop over Germany selling a fraction of its coins and the Mt. Gox FUD is interesting. Is there that much of the market trading this asset vs storing wealth? Where is the demand for Bitcoin to soak this up / i.e., why is the demand side so weak? Is this a reflection of general “jumpiness” and lack of conviction generally in the markets? Is it a reflection of low global liquidity? Miners selling to operate post-halving? \n\nJust a few thoughts on the last week. Feels like a major move down might unlock more demand, but might be just as likely to scare it off, as well.",
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