Nobody seems to think that BTC could ever come back below $4k. This is despite many tech stocks already having taken out their COVID lows.
We've had 3 massive waves up now, with ever-increasing media frenzy at the top of each one.
Who would even be left to buy on a 4th wave?
A true flush and reset therefore makes some sense.
Add to that the macro environment - BTC has never existed during tightening. All it's ever known is cheap money, fast money, the kind of money that burns a hole in your pocket and forces you way down the risk curve to seek return. Well it looks like that era is over, at least temporarily.
We've had 3 massive waves up now, with ever-increasing media frenzy at the top of each one.
Who would even be left to buy on a 4th wave?
A true flush and reset therefore makes some sense.
Add to that the macro environment - BTC has never existed during tightening. All it's ever known is cheap money, fast money, the kind of money that burns a hole in your pocket and forces you way down the risk curve to seek return. Well it looks like that era is over, at least temporarily.