Re:$130B wiped off crypto markets in 24 hours
by hervature on Monday January 24, 2022 @10:04AM
(#30058450)
The problem is that, due to exponential growth, the majority of bitcoin holders entered in the last year. So, in a very meaningful way, the chart is always effectively only a year old in the collective's mind.
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Re:$130B wiped off crypto markets in 24 hours
by smaryjerry on Monday January 24, 2022 @11:54AM
(#30060276)
This is a great point. People might say bitcoin went up 5000% over x amount of time but what percentage of the people saw those returns and what percent of people got beat up over the spikes in 2021. Now that the market is essentially saturated, meaning everyone one who could buy bitcoin now has the ability to buy bitcoin… the growth left can’t necessarily come from new market entrants… and while there will always be stories of people hitting it rich, when 50% of people or more have only experienced a loss, a speculative asset can easily get negative sentiment, and permanently if enough people lose.