/biz/ - Business & Finance

>BTC will have a correction after 20K
For:
>It has happened in the past
Against:
This year: mega whales and institutions driving the run, FOMOs will only accelerate the growth. FOMO bears don't have enough power to send the market back into a proper correction because the majority of drive is coming from big players who are buying everything and they aren't going to stop.
The latter seems to be the correct option

Noticing a lot of similarities... tread carefully.
1) Obviously, the insane volume and 2-3x over a couple days without any meaningful retraces.
2) Coinbase normies buying in way higher at the peak than binance traders / elsewhere. (92c peak vs 78c peak - thats huge). A sign that more experienced traders are staying away.
3) Gigantic short term pullbacks once the (local) top is in. (78c to 64c even on binance - 20% drop in under 15 mins). Everyone knows it isn't sustainable and no one wants to stick around.
4) This board going nuts about it ("New Paradigm" as you can see on an infamous cheat sheet)

All these things happened when UNI ran up. It didn't go more than 2-3x despite the insane hype.

Two extra things to note:

5) No real XRP demand. The moment BTC dips 2%, everyone's running the fuck away. This means that yet again, it's just altcoin mania following a rise in bitcoin, and XRP is everyone's favorite normie coin so it goes 3x. Also notice that every altcoin in its class (ADA, TRX, XLM, etc.) pumped as well. It's just trickle down gains from BTC -> ETH -> a whole bunch of sub 1$ 2017 normie coins.
6) Too similar to 2017 run up: End of the year - check. Bitcoin runs up to 20k - check. Altcoins finally catch up and go fucking nuts - check. Well, this time, a whole new generation of wiser, hardened traders aren't going to miss their chance to sell at a good price.

You have been warned. That being said, I personally wouldn't short anything. Maybe it'll go to 3 dollars again. Who the fuck knows. Just be careful bizbros.

Where is Chainlink at right now?

>>20909017
Disbelief

>>20735844
Disbelief
"This is a suckers rally"

>>20547945
Disbelief

>>20534815
You mean disbelief dumbass