So basically the entire 2017 bull run was:
>Tether prints money out of think air
>Uses it to buy Bitcoin
>Bitcoin goes up due to fomo
>Tether sells Bitcoin for real USD
>Now they have $2 billion
>'See how tether is backed 1:1 by USD?'
>In sum, retail investors around the world basically transferred over two billion dollars to a group of shady executives who printed fake money and operated offshore. One of those executives already exited.
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omosoms
sounds about right
but being right doesn't make you money, it's all about sentiment
i called it last summer so sold most of my bitcoins... at around $3k a piece
people who fell for the con are still up more than 2x compared to me
did you post and delete it right after?
i had to repost. it is a very concise summary of the 2017 hysteria
I deleted the original post because of a typo.
Explains why the crypto market turned retarded. We're out of think air
Also chainlink virgins
>think air
What is it?
the source of the bullrun is in the pic
remember how during the peak the volume on gook exchanges was higher than all other combined? now add the fact that gook exchanges are under tight scrutiny so the wash trading there was at much lower levels, probably 90%+ of legit volume during the bullrun was gooks alone (and maybe chinks trading there after chink exchanges got banned)