Why is btc going up now? - Lisa needs brac......a new yatch

[cybertoaster]

Did the FED start giving free money again or what? or maybe chicom whales need to unload theirs and flee before Xi anhero them epstein-style?

What's going on?

 

[Tom Myers]

The only reason I can think of is people are pulling their money out of the shitty stock market and putting it into BTC to store value. It's way down from its historical peak and people were trying to say it was the new gold.

I know people who still think crypto is a good investment for whatever reason.

 

[DumbDude43]

same reason as any time btc goes up or down: speculators having mood swings.

 

[Schwarzwald]

It's a highly volatile asset that is influenced by many factors.

With regard to its rise since 2020, I think it's pretty clear that it's currently driven by a distrust of US fiscal policy. There are massive concerns about inflation, fears of another economic crash looming, and an undercurrent of distrust of banks and money processors that are increasingly refusing to do business with certain types. It's viewed as a safe haven as an asset uncontrolled by any government.

Bitcoin and to a lesser extent, Ethereum are the only two cryptocurrencies in the layman public consciousness. You constantly see articles about it, you hear about Bitcoin billionaires, you see Bitcoin ATM's popping up more and more. It's becoming easier than ever to actually acquire BTC as it becomes more and more mainstream, with companies like Robinhood, Coinbase, and Crypto doing some mainstream advertising. The "get rich quick"ers default to purchasing those two in a relatively stable economy, which further drives up prices.

 

[SilentDuck]

What could be more compelling and persuasive than the largest fraud ever?

But it all seriousness, Goldman Sachs legitimized BTC long ago. It will behave like any other anything they touch. Rubes and charlatans will pretend its supply and demand, or some sort of market signal that it isn't but really it's just insiders moving volume in a coordinated or uncoordinated fashion.

 

[Gig Bucking Fun]

same reason as any time btc goes up or down: speculators having mood swings.

Same reason as any investment goes up or down tbf

 

[Zbk3VmLfujjzjxBd43tL]

IIRC this one has some big players behind it, something related to the Fed/central banks and the stock market. That's why only BTC and ETH are really doing well right now (aside from the odd altcoin like SOL). There's some powerful people buying up a lot of it and the price is going crazy.

The only reason I can think of is people are pulling their money out of the shitty stock market and putting it into BTC to store value. It's way down from its historical peak and people were trying to say it was the new gold.

I know people who still think crypto is a good investment for whatever reason.

BTC hasn't gone below 15.5K since late 2020. And that's with the widely publicized story of FTX's collapse/Bankman's legal issues and a generally shitty year for the economy as the Fed/other central banks clamped down on free money. It's proved more than ever that it's a stable asset, one that will either gain you a lot of value or not lose you much. I recall seeing an article that Q4 2022 it outperformed gold in terms of stability and usually it's outperforming silver.

Crypto isn't really a worse investment than anything else (and I'm by no means a good investor). Look at what FTX was doing--that proved that crypto is and will be a very important medium for money laundering, corruption, etc. so they want (You) the retail investor to buy into it.

 

[Big Al's Famous Pork]

Is crypto an investment or a currency?
Depends who you ask!
This shit is manipulated by whales. Get out now.

 

[Netizennameless]

Is crypto an investment or a currency?
Depends who you ask!

It sort of depends on the crypto, but many of them should be viewed as companies. Your share of the crypto gives you voting rights on governance decisions, they pay dividends (staking rewards), etc.

This shit is manipulated by whales. Get out now.

Literally everything on earth in the realm of business and finance is manipulated by whales. It's not unique to crypto whatsoever.

 

[mindlessobserver]

Its not that complicated really. When FTX went bust everyone started sweating bullets that Binance and Coinbase were going down with them. Now that the danger of that has largely passed people are buying back in since the recent lows were anticipation of further failures by crypto trading platforms. Also, it turns out, the FTX administrator has found alot of the stolen Crypto in various wallets and so on, so while the US Dollary Doo's are gone there will be some payouts for the investors Bankman Fried shafted in the form of refunded crypto's.

 

[LinkinParkxNaruto[AMV]]

Step 1: Pump
Step 2: Dump

Then repeat

 

[Lemmingwiser]

Is crypto going up or are other currencies going down?

 

[BlackPuppetUnlimited]

It's cause the Fed said they're going to slow down interest rates for now which caused everyone to invest in stocks and crypto. People be bitches when the FTX collapsed happened I bought so much and then I said "why do I have a 700 dollar credit card bill". It turned out to be a good call.

 

[Inafune Fanfiction]

He Bought?

 

[Starved Artist]

Oh, it's pumping season again? Keep an eye out for any recent , low level millionaires who have gone missing lately.

 

[Doseferatu]

I have a theory: if the government wants to make a killing in something, they first make people want to abandon ship (read: SBF and the ensuing promises to regulate crypto).

After enough people have abandoned ship, they then go and make a killing.