@stewbits22 25 January 2022 more from that month

Thinking out loud about the current bearish down turn. Various commentators on You tube and Twitter are saying the down turn isn't over until there is capitulation. That is where every long in the market gets taken out in one big down move, with a huge volume spike and a long tail on the price candle. So far price has dropped 50% and there has been no sign of this capitulation. What if there is no capitulation this time? Why? Because this downturn in price was caused by large institutional buyers who treat crypto like it was a stock and crypto has copied the US stock market crash pretty closely. I am thinking that the crypto longs in the market are not new entries to the market and are not over leveraged. They could ride this market down to the point where a small amount of spot purchases would more than match their crypto long position. For example someone is long at Btc at 60k with 1x leverage. All they are paying is interest, if Btc went to 10k. They buy 2btc at spot. Either way they win. On top of that there are several billioanires who will buy every Bitcoin they can get their hands on below 30k. FWIW