RE: Why I Buy Bitcoin During Crashes Despite Calling it a Bubble

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Why I Buy Bitcoin During Crashes Despite Calling it a Bubble

in bitcoin •  7 years ago  (edited)

I was really surprised you actually followed through with your plan to purchase in the 8k area knowing full well Tether could blow up any time and the impact it could cause. If you know the 50:1 ratio relative to the total market cap of actual dollars invested vs Tether which is 1:1 with USD, you would know Tether represents about 20% of the actual total crypto market cap. At this point, it has nothing to do with whether being in a bubble or not. The issue is if fraud has taken place in regards to wash trading, the market being in a bubble or not would not matter at that point. Everything will tank and cascade to the exchanges which are the funnels of how money goes in and out in the crypto market. Anyway I'm not here to judge you on your decision and do wish you all the best but again just really surprised you would still open another position despite the ticking Tether that could implode either by sudden exit or by government crackdown.

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