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$130B wiped off crypto markets in 24 hours

cnbc.com

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Re: $130B wiped off crypto markets in 24 hours

#11

Post by ajross »

fullstop wrote: post #4
mule1 wrote: post #2

Okay? And 1.5 trillion was wiped off of the US equity market.

I looked at my 401k and it wasn't pretty.

Are you making leveraged trades in a retirement account? It's off 9%. If someone told you you'd have to make do with only 91% of your planned income, you'd be OK. This is what markets do.

Re: $130B wiped off crypto markets in 24 hours

#12

Post by Hokusai »

That's all the point of crypto-currencies, they need to go up and down to enable speculation. Pump and make it go up. Dump and it goes down. Someone is cashing the difference.

A stable crypto-currency will not attract so much speculative investment.

Re: $130B wiped off crypto markets in 24 hours

#13

Post by SeanAnderson »

bla3 wrote: post #9
mule1 wrote: post #2

Okay? And 1.5 trillion was wiped off of the US equity market.

Over the last month: VTSAX is down 9%, AMZN (hardest-hit Big 5) is down 16%, BTC is down 34%.

Netflix is down 35%, not sure why Google would be seen as the hardest-hit FAANG.

Re: $130B wiped off crypto markets in 24 hours

#16

Post by carabiner »

SeanAnderson wrote: post #13
bla3 wrote: post #9

Earlier quoted context omitted.

Over the last month: VTSAX is down 9%, AMZN (hardest-hit Big 5) is down 16%, BTC is down 34%.

Netflix is down 35%, not sure why Google would be seen as the hardest-hit FAANG.

What's the catalyst for all this? Did it start with Netflix?

Re: $130B wiped off crypto markets in 24 hours

#17

Post by 323 »

When price goes up, the conspiracy theory is that it's all fake, because it's just Tether printing.

So where is the Tether printing now? Since everybody agrees that Tether is unbacked and their printer can go brrr at will, why don't they just print more billions to prop the market up?

Re: $130B wiped off crypto markets in 24 hours

#19

Post by skrebbel »

I own no crypto and I think it's a ridiculous piece of hype, but I think all that reporting (and, on twitter, all that schadenfreude) about bitcoin (etc) going down is nonsense.

If you look at a 5 year chart of the BTC value, it's still super insane high and it's been going down hard once before (summer 2021). If I were a crypto fan I'd just tweet HODL like every previous time.

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