May 21 Crypto Crash? - Todays Marked is looking really bad, but I really don't see the reason.

[Deadwaste]

haha my birthday wish of having crypto crash has come through

now i can get onto my second wish of being able to afford a 3000 series gpu because some miner went all in on this and needs to make their money back on the investment

 

[An Avenging Bird]

Hi guys, I bought the dip today, and then I bought the dip again. But it just keeps going down. I am not worried for the long term because I am accumulating coins and Hodling. But I really wonder how low it can go. Is this fall simply china banning Bitcoin again? How I understand it they have always viewed bitcoin as a commodity anyways. And I don't think that have changed. And it's not like something happened to the fiat currencies that makes them less deflationary. Bitcoin isn't going anywhere, so why the big uncertainty now. Does anyone have an idea?

Institutions attempting to rattle off the tourist gamblers who plunked down $1,000 betting it would magically turn a 100x overnight and over-leveraged traders getting consequently liquidated.

Currently, we may be in a bull trap situation so don't go whole in buying up the dip as it may dip even further coming up.

 

[ForTheHoard]

Institutions attempting to rattle off the tourist gamblers who plunked down $1,000 betting it would magically turn a 100x overnight and over-leveraged traders getting consequently liquidated.

Currently, we may be in a bull trap situation so don't go whole in buying up the dip as it may dip even further coming up.

Most of the people I'm getting advice from are saying there's potentially another 6 months left in the bull market but this is one hell of a correction if that's the case. Buying the dip either way. It gives me a change to get into some staking coins that I couldn't really afford before.

 

[An Avenging Bird]

Most of the people I'm getting advice from are saying there's potentially another 6 months left in the bull market but this is one hell of a correction if that's the case. Buying the dip either way. It gives me a change to get into some staking coins that I couldn't really afford before.

The weekly MACD indicators I'm looking at show this is not going to flip back to bullish instantly. Especially when it comes to Bitcoin.

 

[Cool Dog]

Someone checked the candles and it looks like it was the worst two week drop ever, from open to close. For bitcoin.

Worst than the crash when it went from 20k to like 3.5k? that was a what, 70-75% drop? here it was a 20-30% drop, and there seems to be a resistance

 

[shameful existence]

Worst than the crash when it went from 20k to like 3.5k? that was a what, 70-75% drop? here it was a 20-30% drop, and there seems to be a resistance

Different distribution of the drop. There was like a forty-something 2w candlestick (not counting wicks), Benjamin Cowen pointed this out. It doesn't really matter, just a little something to print on those I survived T-shirts.

 

[Carlos Weston Chantor]

- worldwide talk of increased crypto regulations, bans and taxes as over 70% of central banks in the world openly discuss launching their CBDCs in the near future
- old propaganda about bitcoin's energy consumption regurgitated again, this time looks like they actually gonna go with it to target crypto mining
- autistic spergs like elon musk can manipulate the market by tweeting or being on a tv show
- dogecoin in the top 5 cryptos, with a market cap like 50% of general electric
- dumb money goes to dumb things like defi, nfts, meme coins like always
- institutions and OGs accumulated tons of bitcoin under $10,000, absolutely zero incentive to buy BTC with nowadays prices
- tether market cap >$60Billion, some chink company can just decide to print $1 Billion any day, totally not like fiat lmao
- crypto privacy war mostly lost, number goes up fetish is all that matters, 99% of crypto is a ghetto behind KYC/AML walls, choking points like Coinbase and Binance rule the ecosystem (they suck the government's ass and actively work against their users because they know they could get rekt by zog any second)
- meanwhile, alternative assets such as gold, silver etc. are performing great

"Market is looking bad, but I really don't see the reason"

 

[ForTheHoard]

- worldwide talk of increased crypto regulations, bans and taxes as over 70% of central banks in the world openly discuss launching their CBDCs in the near future
- old propaganda about bitcoin's energy consumption regurgitated again, this time looks like they actually gonna go with it to target crypto mining
- autistic spergs like elon musk can manipulate the market by tweeting or being on a tv show
- dogecoin in the top 5 cryptos, with a market cap like 50% of general electric
- dumb money goes to dumb things like defi, nfts, meme coins like always
- institutions and OGs accumulated tons of bitcoin under $10,000, absolutely zero incentive to buy BTC with nowadays prices
- tether market cap >$60Billion, some chink company can just decide to print $1 Billion any day, totally not like fiat lmao
- crypto privacy war mostly lost, number goes up fetish is all that matters, 99% of crypto is a ghetto behind KYC/AML walls, choking points like Coinbase and Binance rule the ecosystem (they suck the government's ass and actively work against their users because they know they could get rekt by zog any second)
- meanwhile, alternative assets such as gold, silver etc. are performing great

"Market is looking bad, but I really don't see the reason"

I don't agree with all your points. Institutions are putting tons of money into BTC at the current prices, but the lowered BTC dominance numbers suggests a lot of market activity is centered around alt coins. The privacy war is no where close to being lost, and when MimbleWimble drops, it's probably going to be the biggest blow to crypto regulation maybe ever. It will have litecoin support which means that if it's popular, bitcoin will adopt it and it's harder for exchanges and institutions to abandon because it's already been heavily adopted. I would also figure that financial institutions will have a use for privacy options, as it's hard to fund politicians and coups with public transactions. Precious metals are doing alright, but they're still underperforming predictions. Most of the blame is going towards crypto because they assume every dollar spent on BTC would have otherwise been spent on precious metals. Financial geniuses have been saying crypto was dead in the water long before BTC hit $1 and they keep having to eat their words. At least now they're smart enough to buy the dip when they scare normies off the market.

Diversify and HODL.

 

[Cool Dog]

Different distribution of the drop. There was like a forty-something 2w candlestick (not counting wicks), Benjamin Cowen pointed this out. It doesn't really matter, just a little something to print on those I survived T-shirts.

So you're saying this isnt the bottom?

- worldwide talk of increased crypto regulations, bans and taxes as over 70% of central banks in the world openly discuss launching their CBDCs in the near future

Reminds me of when we oldfags all thought the internet could never be regulated and it would be the wild west of the late 90's forever

Lo and behold most of the internet (by "weight") its fully corporate now, for most people the web is fb, yt, ig, wapp, tiktok and whatever other apps. Search is broken again but this time for commercial purposes. Most censorship is done by corporations themselves and nobody cares, they keep using this shit

Its practically impossible to not be tracked unless you're willing to go through very cumbersome if not insane measures like using an obsolete chinkpad with libreboot, tails and a cantenna to connect to whatever open wifi you can find............while somebody is driving you around in a windowless van else you're getting fucked in the ass like pirate roberts

When central banks start issuing their own crypto most normalfags are gonna use that even if non-state crypto is better, for the same reason they keep using propietary software and networks: convenience

- autistic spergs like elon musk can manipulate the market by tweeting or being on a tv show
- dogecoin in the top 5 cryptos, with a market cap like 50% of general electric

We're hitting peak tulip mania, normalfags never change

- dumb money goes to dumb things like defi, nfts, meme coins like always

Is there anyone who didnt get fucked over with defi? I literally dont know anyone who doesnt have a horror story with those, either because of fraud, shoddy code leading to a hack or plain fraud

- tether market cap >$60Billion, some chink company can just decide to print $1 Billion any day, totally not like fiat lmao

Fucking finex, I dont know how they manage to keep failing upwards

bitcoin will adopt it and it's harder for exchanges and institutions to abandon because it's already been heavily adopted.

That has been around since like 2018, is there any actual indication from btc devs that they plan to implement it? any announcements?

I would also figure that financial institutions will have a use for privacy options, as it's hard to fund politicians and coups with public transactions.

They can already do that with plain ol' bag full of unmarked bills on a private airplane, why bother? specially since most politicians dont know shit about crypto and like more normalfags are going to ask for cash to do any favors, not memecoins

Diversify and HODL.

Whats your current coin collection? whats your performance?

 

[Harlay de Champvallon]

Why don't people just go with gold? It goes up steadily with little dips. And if you want to live dangerously, silver, and obviously make sure you get the stuff not paper representing it. Yet while crypto seems like something filled with bad actors, it's a way for those like Dear Leader who find themselves unpersoned to pay and receive monies. I honestly think some of the baddest of bad actors are trying to weaken the market, discredit it for that reason.

 

[shameful existence]

Why don't people just go with gold?

Didn't you know? Fixed supply coins are the only fixed assets in the galaxy.

He's going there next year. He'll be tweeting. Buckle up.

 

[Harlay de Champvallon]

Didn't you know? Fixed supply coins are the only fixed assets in the galaxy.
View attachment 2214212
He's going there next year. He'll be tweeting. Buckle up.

In a few years time a soda will be 20,000 Kamala.Dollars. Everyone will certainly be a billionaire, like they were in Zimbabwe. Maybe. Anyhow, even with a golden rock, would extracting and returning the ore be particularly economic? It might be more psychological in lowering the price.

 

[ForTheHoard]

Why don't people just go with gold? It goes up steadily with little dips. And if you want to live dangerously, silver, and obviously make sure you get the stuff not paper representing it. Yet while crypto seems like something filled with bad actors, it's a way for those like Dear Leader who find themselves unpersoned to pay and receive monies. I honestly think some of the baddest of bad actors are trying to weaken the market, discredit it for that reason.

Gold/silver is about 40% of my portfolio. It's just not interesting enough to talk about.

 

[Gimmick Account]

Anyhow, even with a golden rock, would extracting and returning the ore be particularly economic? It might be more psychological in lowering the price.

I think the plan is just to put some thrusters on it and drop it on England. The outer layers will blow off but it's still a net gain, and then you can just walk over and pick it up. Thanks elon

 

[shameful existence]

Anyhow, even with a golden rock, would extracting and returning the ore be particularly economic? It might be more psychological in lowering the price.

Oh it's not about a profitable mining. I was talking about the tweets that will come and affect how people feel about gold. It was also a half joke. I like both my golden and internet coins.

 

[knobslobbin]

I say we take that floating gold rock and accelerate it to a few percentage C and crash it directly into jewYork. That's the only way it could instantly make everyone else on the planet better off.

Joking aside, bitcoin is up this morning. Is the bear asleep finally?

 

[Justtocheck]

I invested $0 of my own money in crypto or WSB and I lost a grand total of $0. In my humble estimation I'm doing great.

 

[Vapid_Idiot]

I invested $0 of my own money in crypto or WSB and I lost a grand total of $0. In my humble estimation I'm doing great.

Nah bro your just crabbing

 

[Justtocheck]

Nah bro your just crabbing

Dude, there's so much terminology I don't get about crypto, this shit is like a third language. This thread makes me feel like I'm reading some old norse scrolls sometimes.

 

[Vapid_Idiot]

Dude, there's so much terminology I don't get about crypto, this shit is like a third language. This thread makes me feel like I'm reading some old norse scrolls sometimes.

Bull Market- Money go up
Bear Market- Money go down
Crab Market- money go slightly up and slightly down continuously so it goes sideways
FUD- Fear, Uncertainty, Doubt, term for any negative news/opinion towards a investment
Capitulating- Shaking out fearful investors
Gains- Profit
Bleeding- Profit loss
Long- Holding on to a assets for bigger gains of appreciation
Short- Borrowing crypto/stocks at a higher price, to sell at a lower price and returning stock and keeping profit