This is a loss for everyone. Fuck these clowns.

Bitcoin is currently at $57,000 and it’s up 144% in the last year. Haters gonna hate

Yeah it's called a "dead cat bounce". Zoom out by about 7 years.

I don’t know how much you know about bitcoin, but 7 years ago it was worth $1,100.

That's not my point. I was talking about the recent price rise.

Every boom bust cycle so far (and there have been about 4 or 5 of them), you get an initial spike, followed by a second one, and then a long, drawn out "despair" period after a crash.

What you're seeing is the second bounce of a spike that has been ongoing since about 2019/2020. The "despair" phase is probably not too far off now.

I hadn’t realized Lemmy was so anti-bitcoin.

Anyway, bitcoin etf’s are a new thing and money is pouring in. Only time will tell, but with all the etf money and the impending halfing, the future looks bright.

Is bitcoin volatile? Undoubtedly.

Buy during the dispair period.

As a former Bitcoin user and fan, I am also anti-Bitcoin. Until they can figure out how to run the network without drawing the energy equivalent of an entire developing country just to check if some numbers are correct, I can't morally justify myself using it.

Ooh, better go vegan then.