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Comment by mikhael28 | Hacker News Reader

Price is going to go down some more too. As the economy slowly but surely enters recession, and low net worth HOLDers sell their BTC to pay rent, the price will continue to go down. This system only works if people pump money into the system, not out of it.

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Those sure are a lot of predictions stated as fact.

It's already a ~ bank run. Not sure what could reverse that trend.

Some discussion on eg. https://bitcointalk.org/index.php?topic=5403254.0

Agreed

I see very little incentives for the current “coin” holders and future potential “coin” holders to maintain a seemingly high “asset” price on btc.

I’m open to a convincing argument otherwise but most of what I’ve observed is hand wavy and requires a religious leap of faith and conversion.

> I see very little incentives for the current “coin” holders and future potential “coin” holders to maintain a seemingly high “asset” price on btc.

That's like saying people who own Tesla stock have no incentive to keep the stock price high. Of course their is incentive for current holders to want to maintain the high asset price...

It's not an unreasonable scenario. But yes, some 50/50 coin flip assumptions have been made.

Last time we had a recession, BTC Skyrocketted because of it.

Last time BTC crashed, it rebounded.

Last time BTC had a massive retail selloff, the HODLers accumulated big.

If you are so confident, why don't you short?

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