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Original Headline:
Bitcoin hits $65,000
Morning Porridge Comment:
A few weeks ago I wrote about Bitcoin ETFs, the coming “halfing” and the influence of whales on the market – predicting Bitcoin would rally despite its inherent pointlessness. I was spot on. So many things for the the shills to shill about! They have spurred a renewal of the spec bubble of hope and conflabulation that’s occured in the past; FOMO drives the demand. The bitcoin shysters are screaming about institutional adoption, mystery buyers, and rumours out of “El Salvador” that Qatar is a buyer… whatever…
Crypto may be pointless, but the trick is understanding how the market is trading it…. not whether it has any real utility. On that basis, there are still “greater fools” to be pulled in.
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