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A comment on Major crypto lender Celsius freezes withdrawals as markets tumble. Parent comment

Re:Major crypto lender Celsius freezes withdrawals as market... by danuker on Monday June 13, 2022 @10:11AM (#31725849)
It would be a combination of:

* supply

* demand

The supply is well-known in advance, and is an advantage to Bitcoin. US M2 money supply grew 8.04% in the past year [0], while Bitcoin's grew ~1.75% [1].

Demand is very volatile, and suffers from the bandwagon effect (price increase -> buy, price decrease -> sell).

[0] - https://ycharts.com/indicators/us_m2_money_supply_yoy

[1] - https://charts.woobull.com/bitcoin-inflation/

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Re:Major crypto lender Celsius freezes withdrawals as market... by FollowingTheDao on Monday June 13, 2022 @10:32AM (#31726174)
Yes, I heard there was a huge demand for Tulips back in the day...
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Re:Major crypto lender Celsius freezes withdrawals as market... by danuker on Monday June 13, 2022 @11:28AM (#31726950)
The tulip bubble did not have 80% crashes going to higher and higher floors.
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