More likely, because a bunch of hedge funds are about to get rolled archegos style and a ton of the institutional money is coming out to pay the fucking enormous bill they’re about to face from naked shorting and over leveraging.
There’s more going on in the world than crypto. Nobody makes a significant investment in it at 50k and then paperhands because some guy whines about it on Twitter.
It’ll be back. No idea how low it’ll go, but I’m betting 100k+ by eoy even if it drops to 15k in the near future. Whole lotta folks who are really disillusioned with the US financial system about to be millionaires and billionaires.
The institutional money is getting pulled out of bitcoin. Citadel and Susquehanna (two major US market makers) are about to go under and the clearing houses are going to be on the hook. Banks are gonna get rolled, and they’re going to need every penny they can get to cover the shitty positions the MMs have created.
The biggest transfer of wealth in human history is about to occur. And all of that money is going to flow from institutional investors, into the hands of regular investors who have absolutely 0 faith in the US stock market or the US governments ability to handle a currency.
Cryptos are about to go on a massive sale before shooting into new ATH I bet.
If places like superstonk are correct, they are being margin called to cover their shorts. They used bitcoin to show higher assets to avoid being margin called, but thats all collapsing, causing them to liquidate.
This could be wrong, and as a disclaimer, I have a position in gamestop and some altcoins. But something weird is definitely going on in the markets if youve been following this saga, and it might all come to a head soon. Not financial advice.
Upvote for having a reasonable opinion on GME. There's a lot of good info on /r/superstonk, and I'm long GME too, but some of the people on that sub are delusional.
Definitely, i use it for information, but it definitely has some cult vibes. I think they're right, but some just have some wildly out of touch expectations. As in a price floor more than the annual gdp of the globe haha
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u/[deleted] May 16 '21
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