Bitcoiners and the market becoming irrational?

[Zenit93]

I'll never sell the bulk of my BTC, but things are looking extremely bearish right now. The irrationality surrounding social sentiment is alarming. With a hawkish fed increasing rates by 50 basis points tomorrow, what the hell do you think is going to happen? People are going to get wrecked.

[genericname85]

Money has already become irrational bullshit when banks were able to loan money that they don't own to several people. It's like they take your money for free and loan that to someone else making a huge profit, when it's you who should make that profit.

Bitcoin eliminates the bullshit institutions that are banks. Because everyone has their money in their wallet. No need for a bank.

[DarkWinterNights]

Diversity and invest in assets. I don’t think Bitcoin is going away so I’d probably hold onto it, but we are going to be in for a wild ride. The only reason the stock market is holding on is because it’s being manipulated.

[exitseven]

A currency that is part abstract and part ponzi scheme that is not backed or regulated by any country. What could go wrong?

[Zenit93]

I would have agreed with you years ago, but literally every institution and every major bank is jumping on board. There's a high demand for what bitcoin offers the world. Regulators are all in favor of bitcoin. The entire secular trend of the global market is shifting though, and risk-on assets will get destroyed.