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As @4379e76b…065061ad says, Bitcoin’s NGU is the most important metric in bitcoin. To act as if all these other metrics suggest we’ve never been stronger is naive and/or misleading. Bitcoin’s stuck in a 4+ year chop that undermines its thesis as a superior technology. We’ve got to get to the root cause of the underperformance.

💬 4 replies

Replies (4)

REUZ51d ago

root cause is that there are more sellers than buyers

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Brock51d ago

Yeah, who are the sellers. And the a whole bunch of OGs fully liquidating their 10,000+ coin positions all at once doesn’t make sense. Unless those positions were not held by individuals but interests that wanted to suppress the price during the bull.

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REUZ51d ago

They probably knew something (maybe being afraid that their identies were going to be leaked or not able to ever convert into something else) or thought it was funny to dump everything once Wall Street was fully on board. To be fair, it's a bit funny if the latter is the case.

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Brock51d ago

I think that’s less likely than institutions that have a vested interest in slowing bitcoin’s adoption accumulated early and have begun a strategy of dumping coins to suppress price and slow down adoption.

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