Well said, Taraz. If people are actually getting #rekt right now, it's likely because they had leveraged loans and long positions that were liquidated. I imagine there was lots of that, but those types of instruments are further away from the fundamental purpose of cryptocurrency... and I don't recommend doing much of it (if any). Thanks for sharing this detailed stream of thought... positivity is good right now. :)
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I was reading somewhere how the futures market played a massive role in the setup process for this collapse - tools of the traditional trade. I think it is human nature to overreach after a little success and in a bull market, there is the feeling of success.
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Indeed, and if you remember what collapsed the 2017-2018 bull market it was the first futures listing and traders / investors able to short Bitcoin easily.
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When you let a fox into the hen house...