high concentration of coins in few hands makes it
Vulnerable to large swings in price.
It’s not true believers that hold the coins
It’s traders and as you have seen during this last year
As inflation fears were rising, Bitcoin was being dumped.
this was the first time it had actually been tested
As inflation had been low for years
The one year we had fear of increasing rates
It dumped.
if it was a true hedge, we should be at all time highs right now
A shitcoin like DOGE does suffer from a high concentration of coins in few hands which is why I would never suggest it to anyone.
Bitcoin does not have this problem... There are tons of stories of people who spent tens, hundreds, thousands of Bitcoin early on that helped ensure wide distribution.
All assets and commodities are vulnerable to large swings in price. Digital assets are just more prone to them now due to their liquidity levels. The more liquidity, the less violent the swings.
Most shitcoins are not held by true believers (especially ones launched in the last two years), that's not the case with Bitcoin.
The on chain data shows that long term HODLers are accumulating while newbies are panic selling. Which one are you???
Traders just swing the price and pay with leverage liquidation when they are wrong. That is what we have seen during this last year while OG's are accumulating on the dips.
It was not "inflation fears" that caused Bitcoin Bitcoin to be dumped it was ignorance.
Who sells an asset with limited supply for one where the supply is never ending?
IDIOTS!!! Don't fall for the fake out...
The true test of the value of Bitcoin has not happened yet. Inflation has been masked by currency creation and cheap imports.
Inflation has not been low for years. The true inflation rate has been covered up for decades by
hedonic adjustments to the Consumer Price Index.
Have home prices gone down since 2008?
How about the price of prime beef?
How about health insurance?
How about school tuition?
All of these items have been removed from CPI...
Don't be fooled by economist tricks of trade...
The only people who fear increasing interest rates are those that don't look at government and corporate balance sheets.
If the Fed raises rates it will be cutting it's own neck
because the interest burden would crush the US economy and push the dollar into oblivion...
If Bitcoin has really dumped, why is it currently up 228.44% over this time last year???
(when in (FU)doubt zoom out...)
Bitcoin is a true hedge. Most of the time it will either be more expensive than it should be or cheaper than it should be.
Bitcoin spends very little time fairly priced but it will even out over time.
One's job as an investor (note I did not type trader) is to recognize value. So, US dollar price goes up, buy less. US dollar price goes down, back up the truck and buy as much as you can.
In the end the US dollar price really doesn't matter, just haw many Sats one was able to stack.
DYOR and stay away from US dollar denominated FUD...
Don't get caught up in price swing bullshit with Bitcoin.