Cornelius on Nostr: Vivek4real_ I have started to realize that the price is driven by leverage ...
Vivek4real_ (npub1ptv…nk9f)I have started to realize that the price is driven by leverage manipulation on exchanges, that pricing mechanism is a small fraction of the market. The majority of #BTC / #Bitcoin holders do not trade BTC and do not influence the price. They are in the stands watching the game.
Expect more volatility upwards and downside pressure as the leverage is there and will be sniped. Remove the exchange element and you realise the price of BTC is 1 BTC = 1 BTC not what the exchanges are telling you the price is.
The best you can do is that you keep some cash on hand so that you do not sell BTC at he wrong time when needed for life impacts.
I felt bad about not having all my cash in BTC and recently had a car breakdown, a dental expense, A dog vet bill and home repair expenses all in 6-weeks. If I did not have the cash to pay for those I would've had to sell some BTC at the wrong market time.
Some will say use debt in those instances but I just do not follow that principal in life. A cash & BTC life is a lower stress life.
#Cash is still needed for life until we get to a new Satoshi world where more people accept the new currency.
Published at
2024-09-02 11:20:44Event JSON
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