 | Six months ago during the FTX collapse, the European Central Bank (ECB) said that Bitcoin is "on the road to irrelevance". More specifically, the WCB said that Bitcoin should not be legitimised because Bitcoin is not suitable as a payment system nor a form of investment. They warned people and suggested selling to avoid further losses. This was covered by ever major news outlet and a very popular post here: The ECB's timing was insane! The ECB made this post at a special moment, namely on November 30 2022 when Bitcoin was ~$16K. They really tried to scare investors away from Bitcoin at the bear market bottom of 2022. See chart below and purple arrow with the timing of their blog. Some of our regular members actually caught what the ECB was doing and correctly identified it a bottom signal. Now, it is rather ironic that since the ECB attacked Bitcoin, Bitcoin made a 100% move and is still up $10K, while banks are falling one by one, isnt it? Lesson learned, do not get shaken out by empty claims of the centralized banks that are just scared of Bitcoin. They provided a perfect bottom signal for Bitcoin and a top signal for Banks. [link] [comments] |
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