A sustained price drop is no longer an option for Bitcoin. Of course the same is true for the Dow. They've both gone FULL CASINO. And now the doors are all closed...
Running out of dumb money again:
IPO StitchFix was predicted at $18-$20, reduced to price at $15 and closed at $15.15, coincidentally...
"Three companies have postponed their IPO this week. As usual, the dreaded "market conditions" are typically cited."
"Several recent highly touted Chinese IPOs are trading below their IPO price"
By sheer coincidence, small caps massively outperformed again today. Suffice to say, the tax cut Maginot Line would have broken without the invisible floor below small caps:
Bitcoin is an analog for Globalization and the Dow Casino: What this week's "event" proved is that gamblers really don't care if they're involved in Ponzi schemes, as long as they keep going up and up and up. But as always, don't take my word for it:
“...it's interesting because I think there are a lot of assets that have values based on just supply and demand. You know, most stocks, they don't have any intrinsic value, no true ownership rights, no voting rights, you just have the ability to buy and sell those stocks. They're like baseball cards and I think Bitcoin is the same thing...”