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Imagine your bank balance is suddenly worth half as much because someone wrote a tweet. How is cryptocurrency still taken seriously?
by unleaded 3y ago
Imagine your bank balance is suddenly worth half as much because someone wrote a tweet. How is cryptocurrency still taken seriously?
- mewpmewp2 3y agoI am not a fan of crypto, but I don't think tweet affecting something like that is an indicator of anything. Something big can happen and only a very little information can reveal it to have happened. That is the power of speed of information and the scale.
- hyperhopper 3y agoImagine your bank balance is suddenly worth half as much because somebody dropped a bomb? How is fiat currency still taken seriously?
- mschuster91 3y ago> Imagine your bank balance is suddenly worth half as much because someone wrote a tweet. That's just as possible with regular stocks, which Twitter's owner has (unrelatedly) demonstrated multiple times in the past with both Tesla and Twitter... or, a bit slower, in the early covid months. Stock markets are insanely sensitive to "insider" information and breaking news in general, which is why the regulations around them are so strict.
- solardev 3y agoHow is Twitter still taken seriously?
- derangedHorse 3y ago“Half as much” is unnecessary exaggeration. All assets with a high reading volume can be manipulated with a tweet. News of a Bitcoin ETF is no different than positive news for any other asset. I think your bias is making you ignorant to general market mechanics.
- bogota 3y agoSo im guessing you feel like tesla shouldn’t be taken seriously as well?
- Mechanical9 3y agoTesla's stock probably shouldn't be taken seriously.
- sebzim4500 3y agoThe price moved ~3% as a result of the tweet. There have been many flash crashes in traditional markets bigger than that, triggered by similarly stupid events.