are hedge funds about to exit, page-20

selby,
It's all about a speculative bubble. All the fundamentals, including strong Chinese demand, point to a price of around $25,000. The price gap between $25,000 and current prices is "hedge fund speculation", therefore when the hedge funds decide to liquidate their positions, the price will drop to its fundamentally strong price of $25,000. This rally to $50,000+ was just speculative madness which had nothing to do with demand. Demand from China drove the price to $25,000, then the rest of the journey has been pure punting from funds with fat wallets.