Bitcoin Meltdown… Breaks below $16,000…

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Where are the diehards who said it was going to $100k? Do they still think it will? I say it is broken.
 
It has been leading the stock market for a while. If that continues to hold true, look out below!

The die hards say that if it holds 10k then 100k is still in play. I don’t own any so I have no dog in this fight.
 
Oldmansmith said:
It has been leading the stock market for a while. If that continues to hold true, look out below!

The die hards say that if it holds 10k then 100k is still in play. I don’t own any so I have no dog in this fight.
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I keep hearing Bitcoin could go to 12k or ever as low as 8K They still predict it will rise form the ashes long-term though.
 
Don't kid yourselves. These prices are a gift. The carnage in the markets has nothing to do with Bitcoin. The carnage in the markets has everything to do with traditional finance entering the crypto space. Bitcoin is still functioning flawlessly and will continue to do so.

What's happening right now is a great thing and way overdue.
 
#48Fan said:
Don't kid yourselves. These prices are a gift. The carnage in the markets has nothing to do with Bitcoin. The carnage in the markets has everything to do with traditional finance entering the crypto space. Bitcoin is still functioning flawlessly and will continue to do so.

What's happening right now is a great thing and way overdue.
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Scam pump today but I agree with you about the long term. Might have quite a bit of pain short term but these prices will seem cheap given enough time.


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In traditional finance, markets can get reckt when a (derivative/debt) bubble pops (Bear Sterns, Lehman, etc.). This is a similar dynamic except it looks like a straight up fraud is at the root. In any event, there's going to be some cascading dominos falling before everything settles. Binance guy tweeted this another day:



Something good might come from this as participants in the space recognize the need for transparency to set a floor of trust as the space is apparently too rife with fraud.
 
pmbug said:
In traditional finance, markets can get reckt when a (derivative/debt) bubble pops (Bear Sterns, Lehman, etc.). This is a similar dynamic except it looks like a straight up fraud is at the root. In any event, there's going to be some cascading dominos falling before everything settles. Binance guy tweeted this another day:



Something good might come from this as participants in the space recognize the need for transparency to set a floor of trust as the space is apparently too rife with fraud.
Click to expand...


Banks come in and buy this on the cheap then sell it to you at how many times the price?
 
pmbug said:
In traditional finance, markets can get reckt when a (derivative/debt) bubble pops (Bear Sterns, Lehman, etc.). This is a similar dynamic except it looks like a straight up fraud is at the root. In any event, there's going to be some cascading dominos falling before everything settles. Binance guy tweeted this another day:



Something good might come from this as participants in the space recognize the need for transparency to set a floor of trust as the space is apparently too rife with fraud.
Click to expand...

I'd say that everything that has been exposed in crypto is going on in traditional finance X1000+. The big difference, in crypto, companies are allowed to fail. Looks like a premonition of what's to come in the banking system when constantly bailing them out no longer has any effect.
 
how did the bankman clown get all of this money from (them)? something isnt right - i'm leaning controlled demolition

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ZeroHedge

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  • Temasek
 
Is there a short market for Bitcoin? You know... in case it goes down someday?
 
The government wants to own the cryptos so this controlled demolition will allow them to scare out investors while they buy it up. I don't know why they want it but it sure seems that is what their plan is now. Pump it to 69K then drop it like a stone.
 
Lancers32 said:
The government wants to own the cryptos so this controlled demolition will allow them to scare out investors while they buy it up. I don't know why they want it but it sure seems that is what their plan is now. Pump it to 69K then drop it like a stone.
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Kristin Johnson, Commissioner of the Commodity Futures Trading Commission (CFTC), echoed these statements from Gensler in an interview with Bloomberg Technology published on Nov. 9. Johnson stressed the need for a regulatory framework that would provide better visibility into crypto markets and cover all the elements involved in crises such as the one currently unfolding with FTX.
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www.kitco.com

SEC and CFTC heads weigh in on the FTX collapse, call for greater regulation

As the FTX saga continues to unfold, the heads of the SEC and CFTC offer a word of warning to the crypto industry that regulation is coming.
www.kitco.com
 
spinalcracker said:
now would be a great time to buy some Volcano Bonds if they were available and if i could figure out how to buy some
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Get em while they're hot!
animierte-gifs-vulkane-3.gif
 
I just looked at the chart. Bitcoin has dropped over $41K since this time last November:

$57,845 to $16,351

EEK. EEK. That is 72% drop...
 
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