The Bitcoin purge is good for the ecosystem. It’s a conviction test that scares away weak momentum traders and allows new entrants who have been waiting for a cheaper price. Long-term hodlers have been conditioned to buy the dip and those using a dollar cost average strategy will quickly absorb the discounted sats. It also discourages buying on highly leveraged margin. “We set the price floor. We give this value.” -Fight Club, probably
Well, that was fast
Oh shit I forgot 1/4/21. Oh well, how quickly we forget...
Why would regional banks push back?
They are beholden to share holders. There is zero profitability handing out high risk/zero yield loans. They will say: no more.
The Central Bank will bypass them and hand out those loans directly. 8/
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Bitcoin Maston Instance