Sketchy Cycle
Actualizado
"Real" Demand is Real ,but Balance Sheets of MM is dampened by Traders making profit from them.
That's why those target Tops sometimes didnt hit, hence Bottoms sometimes didnt reach.
Back to the basics is that, Bitcoin is an alternative asset. Still the Global Macro-economics is still the fundamental theory for "all" assets.
Until Global economics is on the brink of unstability, Bitcoin may not have a reason to appreciate in value.
(I believe MM is just stalling time for some huge distress signal / capitulation in which I "didnt feel" yet , like the "Euphoria" of 20k)
(For Fun thinking : MM's dream would be Bitcoin capitulate exactly the time of Economic recession, then appreciate in Value , despite Real-world assets depreciate significantly)
That's why those target Tops sometimes didnt hit, hence Bottoms sometimes didnt reach.
Back to the basics is that, Bitcoin is an alternative asset. Still the Global Macro-economics is still the fundamental theory for "all" assets.
Until Global economics is on the brink of unstability, Bitcoin may not have a reason to appreciate in value.
(I believe MM is just stalling time for some huge distress signal / capitulation in which I "didnt feel" yet , like the "Euphoria" of 20k)
(For Fun thinking : MM's dream would be Bitcoin capitulate exactly the time of Economic recession, then appreciate in Value , despite Real-world assets depreciate significantly)
Nota
By the way, BitMex's Price is lower than Spot's (Bitfinex's , etc) by about $10 . It could really mean something. They are always Steps / Weeks ahead before "execute" of something. "I say Capitulation"Nota
My Quote is : Bitcoin is not a Poker game, It's a BlackJack game
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