FTAlphaville asks the only question that matters:
The word capitulation has been used a lot in the context of the bitcoin market in recent days — understandably, as the price collapsed by more than a third in the space of a week, briefly to below $3,600 on Sunday.
It is of course impossible to know what everyone in a market is up to (particularly in one where manipulation appears to be rife) but we suspect there is a nuance to what’s going which some are missing. Capitulation tends to be thought of as investor surrender. It’s the point when a holder, or hodler, decides they’ll never make back their losses and abandons the market.
