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> There's probably going to be a positive bounce just because markets don't move in straight lines. To emphasize the uncertainty in your "probably", I will poi

> There's probably going to be a positive bounce just because markets don't move in straight lines. To emphasize the uncertainty in your "probably", I will point out that Luna didn't bounce: https://coinmarketcap.com/currencies/terra-luna/ https://coinmarketcap.com/currencies/terra-luna/

everfree 4y ago
Luna's supply hyperinflated (from 100 million Luna to 6 trillion Luna) to try to save UST's backing, as designed. That's why its price got rammed irreversibly into the ground. Cryptocurrencies in general, and shares of stocks, do not hyperinflate.
pcthrowaway 4y ago
Oh, it absolutely did, it crashed down to 4 zeros, then bounced back up to 3, roughly a +300%-1000% price movement over the course of a day. Of course, liquidity may have been incredibly low, but there were reports of people turning $40 into $400 in the aftermath of all this. Obviously, it crashed so much, the "bottom" was anyone's guess (well.. zero is the only one that makes sense now). But there are bounces all the way down. If you drop a bouncy ball down an infinite staircase it doesn't take a straight line down.
- throwaway743 4y ago
  Saw 6 decimal places for several candles (a close, open, and lows) on 1h timeframe the other day on one exchange. Then back up to 3-4 places.
lamontcg 4y ago
That's why I said probably. I think it would take something like Russia launching nukes at NATO to cause the stock market to tank in a straight line though. Maybe less extremely, Russian nat gas going to Germany being shut off overnight might do it as well. Stocks/securities/crypto usually never go straight down unless it has become apparent that they're fundamentally worthless. I don't see that becoming common sentiment with the US economy. More likely we're going to see a short squeeze start around now though. WSB on reddit is likely piling into the SPY heavily short, expecting the market to drop line a stone like it did at the start of the pandemic and they're dreaming of chicken tendies. They'll likely get blown out in a squeeze. Likely, likely, probably though. I can also predict the winner of the premiere league today based on the odds, but they still gotta play the games.

everfree 4y ago

Luna's supply hyperinflated (from 100 million Luna to 6 trillion Luna) to try to save UST's backing, as designed. That's why its price got rammed irreversibly into the ground. Cryptocurrencies in general, and shares of stocks, do not hyperinflate.

pcthrowaway 4y ago

Oh, it absolutely did, it crashed down to 4 zeros, then bounced back up to 3, roughly a +300%-1000% price movement over the course of a day. Of course, liquidity may have been incredibly low, but there were reports of people turning $40 into $400 in the aftermath of all this. Obviously, it crashed so much, the "bottom" was anyone's guess (well.. zero is the only one that makes sense now). But there are bounces all the way down. If you drop a bouncy ball down an infinite staircase it doesn't take a straight line down.

throwaway743 4y ago
Saw 6 decimal places for several candles (a close, open, and lows) on 1h timeframe the other day on one exchange. Then back up to 3-4 places.

lamontcg 4y ago

That's why I said probably. I think it would take something like Russia launching nukes at NATO to cause the stock market to tank in a straight line though. Maybe less extremely, Russian nat gas going to Germany being shut off overnight might do it as well. Stocks/securities/crypto usually never go straight down unless it has become apparent that they're fundamentally worthless. I don't see that becoming common sentiment with the US economy. More likely we're going to see a short squeeze start around now though. WSB on reddit is likely piling into the SPY heavily short, expecting the market to drop line a stone like it did at the start of the pandemic and they're dreaming of chicken tendies. They'll likely get blown out in a squeeze. Likely, likely, probably though. I can also predict the winner of the premiere league today based on the odds, but they still gotta play the games.