Posted on 06/18/2022 3:11:09 AM PDT by zeestephen
The price of bitcoin fell 9% in 24 hours to $19,217 according to Coin Metrics data...Crypto investors are grappling with aggressive interest rate hikes from the U.S. Federal Reserve and a worsening liquidity crunch. [Half an hour ago, BTC was at $19,040]
(Excerpt) Read more at cnbc.com ...
Hehe
During busts in the crypto market, the value of Bitcoin has typically fallen 85%.
Yes you read that right.
It has also later had dramatic upturns significantly surpassing its previous all time high. So while the ignorant will claim that this is somehow “proof” that its all worthless, its a ponzi scheme, its going to zero, yada yada yada, just understand that this is NORMAL.
By the way, for Bitcoin to fall by 85% from its previous all time high, it would need to drop down to $12,000.
I just used my search engine to see if Bit Coin was, indeed, connected to use of electricity.
It seems there is some connection.
This is great. Now I know why I cannot comprehend BIT COIN, because I never understood electricity.
I’m not a genius...I’m a MORON.
Yep. Its the same old FUD every time. Bitcoin has been through 3 full cycles at this point.
*thumbsup* Agreed.
Which crappy money to hold?
Sad to say the dollars is still the world’s best crappy money.
Things are relative. place your bets.
“Problem is that when you have dozens of “coins” driven to the stratosphere by speculators, you only really make money if you cash out while there’s actual capital in the scheme.
Once the ability to “cash out” ceases to exist, even if the market says the coin is worth something, it becomes a hard lesson in reality to learn that it doesn’t.”
basically, ponzi scheme
oh, and there are over 10,000 actively traded cryptos ... about 8,000 other ones have already failed ...
not only that, recently about one fourth of all crypto buys have been on margin loans, a sure recipe for disaster ...
“... good looking Eastern European chick ...”
Pics or it didn’t happen.
“What is the sound of a bitcoin creation?”
every time a bitcoin is created, a virtual angel gets its wings and a virtual bell rings (of course, because the bell is virtual, you can’t hear it when it rings) ...
“smells like one huge ponzi scheme”
indeed ...
You got it! I've seen middle-aged investors brag about the same. It seems the citizens of Miami are feeling the pinch with the crash of MiamiCoin. The mayor of Miami is a die-hard crypto proponent.
$12,000 makes sense for technicians.
There is definitely a very solid block of buyers on the chart at $10,000.
There was an amazing block of buyers in the $29,000 to $31,000 range for 18 months. Sellers got beat back six times at that price level.
“Sad to say the dollars is still the world’s best crappy money.”
THAT’s a real problem.
LOL
Well she’s OK .... Except for that whole repeated deceit thing......🤪
As opposed to the USD and bitcoin, my gold will never be worth zero….
Anybody want to buy some tulips?
Its what I look for in any crypto thread - the more ignorant the poster the more hilarious their silly wagging tongues.
At a time of inflation, when US dollars are weakening daily, you would expect Bitcoin to be gaining strength. So I don’t understand what is driving it downward.
I have assumed that Bitcoin could not be manipulated in the way stocks can be, but this looks like an engineered crash. Again, I don’t see how it’s been done.
I can imagine several reasons why, but not the how.
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