Comment Re:Cue the slashdot bitcoin hate (Score 1) 119
About the only thing I somewhat disagree with this post, is the transfer of wealth from Big Finance to geeks here; I think Big Finance did finally get into crypto, which is why we saw such a massive gain up until the last couple of weeks. But we're on the brink of another financial crisis and they've been forced to liquidate their crypto holdings to avoid getting margin called on worthless commercial mortgage backed securities (from pandemic), redditors getting wise on naked short selling on memestocks and continuing to hold, reverse repo at an insane high.. there's more to this indicative of an imminent financial crisis, but the point is it's highly likely the big financial players have been mostly selling crypto (combined with triggered panic selling).
But whether you agree with that speculation or not, bitcoin (and most of the other main cryptos now; etherium, ripple, cardano, hell maybe even dogecoin) WILL rise again when this crash bottoms out, which might even be in the next couple of weeks once the big players cash out. They'll buy in once the dust has settled, so will retail traders, and in another 3 to 6 months after we inevitably see them rise again, I'm sure we'll see another article on slashdot about the crypto rebound (full of hater comments lol). And for what it's worth, I finally got into crypto a few months ago and did feel the burn and cashed out at around a 25% total loss (before it tanked to what it's at now). Certainly stings a little, but I would be even more of a fool if I didn't buy back in once the dust has settled and it inevitably starts rising again.