Damus
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Ghost👻
@Ghost👻
What will happen when global stock markets, specifically The US I suppose, but the rest will follow, have the next major crash. I'm referring to the BTC price, as BTC hasn't been around since the last major one. Will capital flow into it as people look to reallocate, or will contagion drag it down, too🤔.
#Asknostr.
5
Bill Cypher · 2d
Depends. Currently there is a base of true believers using BTC as a store of wealth. The day to day price is set on the margin by traders who view BTC as the ultimate risk asset. The base creates a scarcity floor for the traders to oscillate around. The % in each camp is shifting towards holders as ...
Whitehead · 2d
Two different questions hide in that one. In a liquidity panic the first move is usually down, together: March 2020, bitcoin fell with everything, because people sell what they can to raise dollars. So contagion wins the first days. That is not bitcoin being weak, it is that most people hold it some...