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This is not looking good for Crypto. Bitcoin is around 24K USD today after a ~10% fall. Other major crypto are following or likely to follow .. Terra Luna fiasc

This is not looking good for Crypto. Bitcoin is around 24K USD today after a ~10% fall. Other major crypto are following or likely to follow .. Terra Luna fiasco was just the trailer .. The whole movie is going to be more horrifying ..

geerlingguy 4y ago
And BTC just dropped below $24k... a lot of people trying to catch falling knives today.
- DonHopkins 4y ago
  HODL those knife blades!
  - csours 4y ago
    "A falling knife has no handle"
foepys 4y ago
Not only that but Bitcoin fell over 23.5% over the last 7 days.
- dan1234 4y ago
  Also, Ethereum has dropped 37% over the last 7 days, 18% in the last 24h. Could be an interesting week.
- deleted 4y ago
  [deleted]
toolz 4y ago
bitcoin falls 99% in one day to 1 cent - 2011 bitcoin falls 56% - 2012 bitcoin falls 83% to $50 - 2013 bitcoin falls 84% to 12k - 2017 bitcoin falls ~50% to ~30k - 2021 "crypto is not looking good long term" - numerous people on hacker news every single time crypto is down.
- lolsal 4y ago
  Volatility isn't a virtue for a currency. It's fine for speculative financial vehicles that involve cryptography in some way, though. That vehicle might be driving to $0, though.
- spupe 4y ago
  Bitcoin at 12k in 2017? Really? You should welcome all the nay saying here if you think Bitcoin is bound to go up again.
  - cypress66 4y ago
    I assume he meant drops to 3k - 4k in 2018
    - toolz 4y ago
      no, I didn't - although admittedly I left that data point out to achieve a more shocking progression, if I'm being honest LOL but the point is still very self evident even with that data point.
  - toolz 4y ago
    I hope this is not a revealing comment on who you are, because I read that as "you should hope to speculate on some asset to make money off of other people simply because they were wrong" I'd much rather see a stabilized crypto that could act as an amazing tool for people in poor countries to lift themselves out of poverty than I would see it be a vehicle to take me from top 1% wealth in the world to a higher tier of top 1% wealth in the world.
    - Clubber 4y ago
    - virgildotcodes 4y ago
      Step 1) Person in Malawi buys Bitcoin. Step 2) ??? Step 3) Person's village experiences famine due to severe draught exacerbated by climate change driven by, among many other things, Bitcoin. Step 4) ??? Help, I can't find the step where they lift themselves out of poverty.
altdataseller 4y ago
24k is too high. Way way way too high.

geerlingguy 4y ago

And BTC just dropped below $24k... a lot of people trying to catch falling knives today.

DonHopkins 4y ago
HODL those knife blades!
- csours 4y ago
  "A falling knife has no handle"

foepys 4y ago

Not only that but Bitcoin fell over 23.5% over the last 7 days.

dan1234 4y ago
Also, Ethereum has dropped 37% over the last 7 days, 18% in the last 24h. Could be an interesting week.
deleted 4y ago
[deleted]

toolz 4y ago

bitcoin falls 99% in one day to 1 cent - 2011 bitcoin falls 56% - 2012 bitcoin falls 83% to $50 - 2013 bitcoin falls 84% to 12k - 2017 bitcoin falls ~50% to ~30k - 2021 "crypto is not looking good long term" - numerous people on hacker news every single time crypto is down.

lolsal 4y ago
Volatility isn't a virtue for a currency. It's fine for speculative financial vehicles that involve cryptography in some way, though. That vehicle might be driving to $0, though.
spupe 4y ago
Bitcoin at 12k in 2017? Really? You should welcome all the nay saying here if you think Bitcoin is bound to go up again.
- cypress66 4y ago
  I assume he meant drops to 3k - 4k in 2018
  - toolz 4y ago
    no, I didn't - although admittedly I left that data point out to achieve a more shocking progression, if I'm being honest LOL but the point is still very self evident even with that data point.
- toolz 4y ago
  I hope this is not a revealing comment on who you are, because I read that as "you should hope to speculate on some asset to make money off of other people simply because they were wrong" I'd much rather see a stabilized crypto that could act as an amazing tool for people in poor countries to lift themselves out of poverty than I would see it be a vehicle to take me from top 1% wealth in the world to a higher tier of top 1% wealth in the world.
  - Clubber 4y ago
  - virgildotcodes 4y ago
    Step 1) Person in Malawi buys Bitcoin. Step 2) ??? Step 3) Person's village experiences famine due to severe draught exacerbated by climate change driven by, among many other things, Bitcoin. Step 4) ??? Help, I can't find the step where they lift themselves out of poverty.

altdataseller 4y ago

24k is too high. Way way way too high.