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Crypto Crash Erases More Than $1T in Market Value
- togaen 5y agolol
- gbronner 5y agoI'm curious how this will affect the price of nfts
- deleted 5y ago[deleted]
- friendlydog 5y ago"This is good for bitcoin." Great time to buy after the end of the year pump and dump cycle that happens almost yearly.
- penisverse 5y agoThis is good for the environment.
- jl2718 5y agoApparently not. Peak difficulty hit during the crash. I’m assuming because of fees.
- JaggerFoo 5y agoMatt Damon was the Peak Crypto signal.
- deleted 5y ago[deleted]
- labrador 5y agoMelania Trump was the Peak NFT signal
- loceng 5y agoApparently it's because the stock market is crashing too? At least that's one narrative I'm seeing to try to quell HODLers into not selling.
- donavanm 5y agoWhich is funny because the “grown up” finance story is that bitcoin and friends are a great method asset diversification ala gold or bonds.
- vba616 5y agoHaven't people been saying for a while that cryptocurrency seems to track stock markets rather than being a hedge?
- loceng 5y agoMy guess is in part is that because it's nearly 10p% speculative, and ungrounded/not anchored in any high resolution way (say to specific companies' product or service sales, e.g. no real demand proven regarding sales) that's primarily an unsophisticated ideological mob who buy Bitcoin, and the clever hodlers make millions - while chanting for the mob to "HOLD!" - by selling at the beginning of significant downtrends in stock market knowing that the mob will soon follow crashing the price at which point the clever ones can rebuy with just 50% of what they sold to 1) come out owning more Bitcoin, 2) making themselves whole again, 3) and actually with a profit; rinse and repeat, buy low sell high.
- cyanydeez 5y agoNothing of value was lost
- iszomer 5y agoNothing of materialistic value.
- clpm4j 5y agoI can't imagine that many people (even the crypto-token OGs) can be very surprised about this. Many of these projects/tokens have market caps in the tens of billions, and for the most part haven't even achieved what we would typically think of as product market fit in terms of customers/users other than people buying and selling the respective tokens. I hope prices continue to fall and I hope the people who truly believe in the space will actually build some products that people love / that solve tangible problems rather than just facilitating more financial engineering and trading.
- dpweb 5y agoLove the technology, hate the greed