Now this is the real risk underlying bitcoin that hardly anybody talks about. The crash earlier this year was due to over leveraged futures whereas the crash in 2017 was due to long term holders liquidating their coins. We are much more volatile and prone to pumps or crashes throughout this year. Imo regulation is extremely important for these reasons.
See also $29 billion deposited to commercial banks in the last week (May 10th-17th). $1,006 billion in deposits has been pulled since the all time hit 4/13/22. Since the run picked up momentum 2/22/2023, $538 billion in deposits have been pulled. A transitory break before accelerating again?
See also Cleveland Fed Governor Loretta J. Mester believes interest rates should go higher... Richmond Fed Governor Thomas Barkin: I also want to reduce inflation,” “And if more increases are what’s necessary to do that I’m comfortable doing that.