Last year people would jokingly say that the headline this year would be "bitcoin crashes to 30k", and that was dismissed as stupidly bullish.
It's not good when an asset class drops by 30% in 24 hours.
Being at $60K just means that a handful of suckers bought for $60K.
Trades on sidechains or on centralized exchanges also don’t register.
> There's a public ledger
Nothing to do with this.
> we can find out exactly how many people bought it at every price.
None of them afaik will tell you how many people. Trade data tends to be anonymous and only give you price, amount, and side for each trade. There’s no way to differentiate between 2 people trading back and forth 1 million times vs 2 million people trading once each.
https://twitter.com/shortthebanks/status/1133735039596994560
https://twitter.com/Joe_wants_BTC/status/1316044080690929666
Dropping X% in 24h sounds bad, but without putting it in the context of the asset's historical volatility, sharpe ratio, overall portfolio construction, etc; it looks like a very superficial reading (perhaps just good enough for a headline)