🪙Bitcoin bulls spot bottoming signs as longtime bears take victory laps
⚡The Financial Times and Peter Schiff were among the no-coiners giving themselves pats on the back as crypto crashed this week.
🪙Longtime no-coiners were declaring victory this week as crypto markets crashed.
🪙Bitcoin remains $69,000 (or $70,000) too high, declared the FT's Jemima Kelly.
🪙Peter Schiff and the FT joined in pointing out that Michael Saylor's Strategy is underwater on its 5-plus-year bitcoin acquisition spree.
🪙With crypto's multi-month downturn accelerating into a freefall last week, bulls were frantically grasping for technical signals, or maybe yarns about the blowup of some leveraged hedge fund, that might signal a final bottom for this bear market.
📉Perhaps the ultimate sign of a bottom, though, might be the cheers arising from those who have been faithfully bearish on bitcoin
BTC$70,804.66
as its price rose from $0 to more than $100,000 over its 16-year lifespan.
