Cryptocurrency

[clarshack]

Mayhem in the crypto markets the last half hour

XRP having a nightmare.

Havent looked at the rest - they the same?

i'm still up on XRP thankfully. it's only down because Bitcoin has dragged it down with it.

[yellowcard]

Can anybody care to explain what is going on with Crypto at the minute? Bitcoin and most other currencies down almost 20% so far today. Falling like a stone since Elon Musk announced he was withdrawing last week, is there something else going on.

[clarshack]

Can anybody care to explain what is going on with Crypto at the minute? Bitcoin and most other currencies down almost 20% so far today. Falling like a stone since Elon Musk announced he was withdrawing last week, is there something else going on.

China has cracked down on Crypto:

https://www.reuters.com/world/china/what-beijings-new-crackdown-means-crypto-china-2021-05-19/

[trailer]

If you can time the bottom here you could make a killing

[trailer]

Sat here watching Cardano the last hour and it wasn't far of 50% down at one stage.

I'm still up on Cardano and XRP but have taken a fair hit on Bitcoin.

[Capt Pat]

Can anybody care to explain what is going on with Crypto at the minute? Bitcoin and most other currencies down almost 20% so far today. Falling like a stone since Elon Musk announced he was withdrawing last week, is there something else going on.

China has cracked down on Crypto:

https://www.reuters.com/world/china/what-beijings-new-crackdown-means-crypto-china-2021-05-19/

China is the first to do what is right and correct. How far behind them will the USA be?

[clarshack]

Can anybody care to explain what is going on with Crypto at the minute? Bitcoin and most other currencies down almost 20% so far today. Falling like a stone since Elon Musk announced he was withdrawing last week, is there something else going on.

China has cracked down on Crypto:

https://www.reuters.com/world/china/what-beijings-new-crackdown-means-crypto-china-2021-05-19/

China is the first to do what is right and correct. How far behind them will the USA be?

I think the SEC v Ripple court case will end up providing regulatory clarity for crypto in the USA. The CEO of Ripple has previously said that he believes 99% of Crypto will disappear.

[seafoid]

https://www.ft.com/content/36180ce3-1ae6-40a3-b3a3-9eb1b4312f3d

as a longtime visitor to Silicon Valley C-suites, he frets about the barbarians at the crypto gates. "What I worry about it that these hackers are getting awfully good," he said. "Someone is going to hack bitcoin one of these days. Figure it out. The hacking that is going on from Russia and China, and who knows where it is going on, is just incredible."

[smelmoth]

Huge Losses across all crypto today!

Bitcoin 13%
Ethereum 19.55%
Litecoin 17.77%

Beginning of the end??

No. Its experienced worse weeks than this and bounced back stronger. Waiting to this bottoms out before buying.

How will you know when it bottoms out?

What is its core value that you think it will bottom out at?

[Itchy]

Huge Losses across all crypto today!

Bitcoin 13%
Ethereum 19.55%
Litecoin 17.77%

Beginning of the end??

No. Its experienced worse weeks than this and bounced back stronger. Waiting to this bottoms out before buying.

How will you know when it bottoms out?

What is its core value that you think it will bottom out at?

Well it is on the rise again in a big way today already so for this latest drop it seems to have bottomed out, no?

[Maroon Manc]

Trying to have sensible conversations with people who are gambling on crypto and who've never invested in anything previously is tough work.

[RedHand88]

Huge Losses across all crypto today!

Bitcoin 13%
Ethereum 19.55%
Litecoin 17.77%

Beginning of the end??

No. Its experienced worse weeks than this and bounced back stronger. Waiting to this bottoms out before buying.

How will you know when it bottoms out?

What is its core value that you think it will bottom out at?

Was hoping for under $20k but it doesn't look like that's going to happen.

[Mikhail Prokhorov]

Huge Losses across all crypto today!

Bitcoin 13%
Ethereum 19.55%
Litecoin 17.77%

Beginning of the end??

No. Its experienced worse weeks than this and bounced back stronger. Waiting to this bottoms out before buying.

How will you know when it bottoms out?

What is its core value that you think it will bottom out at?

Was hoping for under $20k but it doesn't look like that's going to happen.

it will, i have orders in at 23 and 18, should be another big downswing to shake everyone out then rocket up again

[smelmoth]

Huge Losses across all crypto today!

Bitcoin 13%
Ethereum 19.55%
Litecoin 17.77%

Beginning of the end??

No. Its experienced worse weeks than this and bounced back stronger. Waiting to this bottoms out before buying.

How will you know when it bottoms out?

What is its core value that you think it will bottom out at?

Well it is on the rise again in a big way today already so for this latest drop it seems to have bottomed out, no?

Doesn't really answer the questions. If it drops tomorrow or the day after then it won't have bottomed out today.

What's the underlying value that it won't drop below on a sustained basis?

[smelmoth]

Huge Losses across all crypto today!

Bitcoin 13%
Ethereum 19.55%
Litecoin 17.77%

Beginning of the end??

No. Its experienced worse weeks than this and bounced back stronger. Waiting to this bottoms out before buying.

How will you know when it bottoms out?

What is its core value that you think it will bottom out at?

Was hoping for under $20k but it doesn't look like that's going to happen.

An investment strategy based on hope.

When this shitshow blows up sympathy will be as scarce then as logic is now