tbh between like 64-80k ish who the fuck is going to sell
Show this thread
-
all crypto is basically a low float scheme, so if you look at it like a thin microcap equity, the possible sellers on a breakout would be whales who need a lot of volume to be able to exit, knowing they are unlikely to get enough buy volume if they wait for a down market
This is absolutely true for BTC, esp when you consider how much is in wallets that will never sell. The "market cap" has no bearing on the effective liquidity
-
-
Like, a lot of the hardware wallets from the really old school days of Bitcoin ended up in landfills or otherwise got lost and they have huge amounts. ~2.5 million BTC is in wallets that haven't transacted in 9 years or morepic.twitter.com/kwInf03MHA
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.