Post by
LeJames on Jan 30, 2021 4:12pm
Not sure what this means
Silversqueeze next? If they keep doing things like this BTC bulls may have to wait for a long time. Insane.
Comment by
CannaBaked on Jan 30, 2021 10:37pm
Musk will break the internet when drops the follow up news to this article - Musk Link This whole reddit wallstreetbets thing will be made an example of and decentralized crypto should benefit greatly
Comment by
LeJames on Jan 30, 2021 11:03pm
The theme of decentralization will def benefit BTC in the long term. To many Reddit-following gamblers though, nothing is decentralizing enough other than the targets declared on Reddit. So in the near-term, this may hurt index markets and everything that isn't heavily shorted, including BTC. Inverse correlation between the SP of GME and BTC pricing since Thursday is quite concerning.
Comment by
chucker23 on Jan 31, 2021 6:16am
I'm thinking with (from what I heard) btc is sitting on over 1 billion in shorts - if they are concerned about any reddit ramfications they'll be looking to cover - which generally has a positive impact on price. Correct me if I'm wrong.
Comment by
LeJames on Jan 31, 2021 8:32am
The trend is bullish in the long term. No doubt about it. Not sure about near term though as it may pull money from everything that's not their target. Hope I'm wrong though. Cheers