epeakin
I’ve been wondering if the current slump in bitcoin and other crypto has to do with Russians trying to evade sanctions?
https://theconversation.com/are-russias-elite-really-using-cryptocurrency-to-evade-sanctions-179559
So in effect the Western financial institutions are tanking bitcoin deliberately (scare stories, selloffs) to damage the Russians trying to hide their wealth using bitcoin and other crypto.
What do you think?
View Reddit by adamsky1997 – View Source
Much simpler explanation:
– Bitcoin is seen as a highly speculative asset.
– Most people own it because they think the expected future value is “the moon”, whatever that is.
– The current BTC price reflects the (discounted) present value of investors’ expected future selling price.
– As the Fed tightens and interest rates rise, the discount rate rises. And given the exact same expected future value, a higher discount rate means a lower present value.
It’s not about Russia and it’s not about Bitcoin. It’s all about the USD and (hopefully) taming inflation.
No, all tech stocks are down, Bitcoin, whether we like it or not is very correlated to tech stocks, therefore Bitcoin is also down.
No.
Bitcoin isn’t anonymous https://blog.chainalysis.com/reports/history-has-its-eyes-on-crypto-lets-prove-its-on-the-right-side/