Bitcoin’s Rally Feels Thin As Liquidity, Not Fundamentals, Drives The Market

There’s an old joke about predicting the markets: “It’s going to go up, down, and if it doesn’t do that, it’ll go sideways.” I’ve added my own twist: “But it will never trade from right to left.” Like all good jokes, there’s a kernel of truth in that line. So here is a chart: This is why, as a bear, …