🐻💨 🪑

bears rn

BTC up 206% since PGs tweet 11 months ago

The full nonsense in all its glory

watching the bitcoin chart like

VCs just want to put their money where they see everyone else putting their money

(Though TBF, VCs do it for self-serving but practical reasons, CYA & ease of capital.)

From a 2018 paper on herding behavior among crypto investors.

Wonder what an updated version of that regime chart would show…

“Herding on non-fundamental information is found to be more pronounced during an upward-trending period of the market and other than upward-trending period”

They also mix in some nonsense bs, but interesting.