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A comment on Bitcoin price hits $100K for first time in history. Parent comment

Re:Bitcoin price hits $100K for first time in history by devjab on Thursday December 05, 2024 @06:10AM (#42327014)
Weren’t the last spike in crypto prices mostly done by major holders who needed to unload? I admit I don’t follow it very closely but I seem to recall some Danish articles about it essentially being a form of market manipulation largely unrelated to anything that was actually happening in the world.

I’m probably wrong though.

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Re:Bitcoin price hits $100K for first time in history by shadowmanif on Thursday December 05, 2024 @06:41AM (#42327196)
You are probably partially right but there are many levels to this game.

Microstrategy is also running a pyramid scheme. Surely, there are also hedge funds in the space playing all kinds of games.

It is interesting how the digital Yuan is rolling out right now as part of HarmonyOS NEXT while the stupid west waste time with these digital currencies that can't function well as actual currency.

At the highest level, I suspect this is a brilliant game of currency Kung Fu.

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Re:Bitcoin price hits $100K for first time in history by tasuki on Thursday December 05, 2024 @07:13AM (#42327408)
Unloading doesn't increase price. Price is driven by supply and demand. Unloading lowers price.

There isn't an "increase price so I can unload" button.

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