Cryptocurrency Master Thread

[Stupid Fitz]

I think we can stick a fork in crypto now.

https://twitter.com/justinbaragona/status/1537810711610630145

People that say things like this are just WAF in general, but it amazes me that CEOs and people in high places say things like this out loud. Just bizarre. What the hell does it even mean?

[catastrophe]

Can you imagine being one of those pro athletes that took your bonus in crypto.. lmao

That any the all out money Crypto.com sunk into buying the domain and the all out media blitz that followed.

[Stupid Fitz]

Can you imagine being one of those pro athletes that took your bonus in crypto.. lmao

That any the all out money Crypto.com sunk into buying the domain and the all out media blitz that followed.

the washout is going to be pretty incredible. I've pulled pretty much everything aside from BTC and ETH in my cold wallet. So many companies and jobs are going to be lost. It will be amazing to see what it looks like when its over. Crypto will def still be a thing IMO, but how many coins/ideas will be around in 2 years? I'm sure people will start piling money in after some dudes get rich off goEMAW coin or whatever.

[wetwillie]

I remember my first crypto bear market

[DaBigTrain]

I remember my first crypto bear market

Right!?

[yoga-like_abana]

Yeah that was like $30-300 swings not $30k idiots


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[catastrophe]

Yeah that was like $30-300 swings not $30k idiots


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Well the $30k wouldn’t have been possible without the insane bull run that preceded it.

I think the biggest difference in this bear market is that it has a real impact on a lot of large companies and funds who invested in crypto. That definitely wasn’t true a few years ago.

[chum1]

Yeah that was like $30-300 swings not $30k idiots

I can't tell if this is a joke about relative difference or not. In any case, it isn't true because the price went from $20K to $3K before.

People said it was dead then. It wasn't. It could be dead now. Also, it might not be.

[steve dave]

what if this triggers a bank run on tether. now that is when this thing really blow up.

[steve dave]

https://twitter.com/TheStalwart/status/1538114181479686145

[wetwillie]

I do love a good old fashioned unambiguous debunking 

[steve dave]

https://twitter.com/PeterLBrandt/status/1538161129393991682

I bet it holds

[catastrophe]

Got a handy explanation for that graphic or at least an analogy that actually makes sense?

[steve dave]

Got a handy explanation for that graphic or at least an analogy that actually makes sense?

technical analysts (chart nerds) talk support and resistance with stonks and stuff all the time. basically all they talk about actually. like they were saying if it breaks below $30k then watch out below. which actually happened. it doesn't always follow along with what the chart says will happen but the bottom definitely fell out of this one. so the old resistance was $19k'ish in like 2018. it didn't break that for a long time. and it's now it's back there. resistance usually will become support after it breaks out. if it breaks below here the next support is the old support at like $12k. if it breaks that watch out way below. now this is all chart nerd stuff and these guys don't know crap about crap when it comes to fundamentals. but, the good news for them is there are zero fundamentals with btc so maybe being a chart nerd is good here. I don't know. I just read their garbage online and laugh at them when it doesn't work.

[catastrophe]

That’s kind of what I figured. No idea why any floor you set would necessarily be indicative of future value here. But I also have no idea what any of this is or how it works.

[wetwillie]

Crypto twitter/media folk are the browns of the already brown twitter/media world.   

[steve dave]

Crypto twitter/media folk are the browns of the already brown twitter/media world.

Yes, just a massive downgrade culture overall

[steve dave]

https://twitter.com/zguz/status/1538191733862850561

[steve dave]

what if this triggers a bank run on tether. now that is when this thing really blow up.

https://twitter.com/nytimes/status/1537965829622358017

Tether outflows

https://twitter.com/cryptowhale/status/1538198544045248514

[steve dave]

Soy Boy Sorkin getting dunks in on crypto on a dang weekend!

https://twitter.com/andrewrsorkin/status/1538224117903663104

[DaBigTrain]

The $18,500 limit order I’ve had out there for like a week finally hit this morning

[steve dave]

The $18,500 limit order I’ve had out there for like a week finally hit this morning

[steve dave]

$17.8k btc and $900 eth and still in free fall

 

[DaBigTrain]

The $18,500 limit order I’ve had out there for like a week finally hit this morning

Just buying it down. Not looking to catch the exact bottom here man.

[steve dave]

yeah, I've been doing that with VOO for like 6 months now as well. lmao.