Bitcoin price suddenly surges to 3-year high

[sepheronx]

https://twitter.com/i/web/status/1394661559033602049

 

[moproblems99]

https://twitter.com/i/web/status/1394661559033602049

Unfortunately, news doesn't have to be correct to have consequences. There is more big money in crypto than little money. The only game in crypto is figuring out who is controlling it at the time and what their plan is.

 

[birdie]

What a lovely day, what a lovely day (PS I'm a hodler and I've lost a ton of money recently)!

 

[RandallFlagg]

A panic sell isn't necessarily a bad thing. It could be a serious warning or it could be a good buying opportunity. Warren Buffett once said:

"Be fearful when others are greedy. Be greedy when others are fearful.”




It's up to the investor to understand the risks and the investment and decide accordingly.

Pretty sure the market is merely at the Anxiety part. The news is just now today starting to consider that maybe the cycle peaked.

Eth is in the earlier stated 2000-2600 resistance range which includes the 50 DMA, and people who want to get out may get an opportunity on a bounce here. But this isn't selling off like a normal market, probably due to lack of shorts / puts on these cryptos which are what help keep stock markets from just all out going to zero in down swings.

Yeah this is an all out crash. 15 mins later and the crypto index has lost another 20%.

 

[Vya Domus]

I think the retail investor panic selling really only started in these past few hours. Like I said, this definitely seems like a well crafted move, sell signals existed for a while but not to these levels.

 

[lexluthermiester]

Holy crap is it crashing!! POP goes the cryptocoin world... Almost the entire cryptocoin market is crashing and hard...

On the upside, we're all going to see tech prices start to return to normal...

 

[Vya Domus]

On the upside, we're all going to see tech prices start to return to normal...

Good luck with that, like I said above, ETH is still far above the profitability threshold.

 

[lexluthermiester]

ETH is still far above the profitability threshold.

No it isn't, especially with the following about to hit;

Ethereum to Transition to Proof of Stake in Coming Months, Reducing Energy Consumption by 99.95%

The deployment of PoS (Proof of Stake) in Ethereum - called The Merge - has been a target for the development teams for a while now - and yet it still hasn't see the light of day. However, we have been slowly clambering towards it, and the Ethereum team has issued a blog post that places that...

www.techpowerup.com

Whatever profitability might exist will quickly be gone!

 

[Vya Domus]

POS will take ETH mining out of the equation (well not really but let's go with that) but till then prices alone wont cause miners to give up on buying GPUs. Plus, who the hell knows what could take it's place after.

 

[Space Lynx]

ITS AT 30K!!!! AND STILL CRASHING!!! I BET THE BANKS WOKE UP AT 9AM AND STARTED CASHING OUT JUST AS I PREDICTED!!! LMAO

so volatile bruh

 

[RandallFlagg]

So this is one of those anecdotal signs of a crash.

My trading programs are all lagged to hell. Rest of the internet is fine.

 

[Space Lynx]

So this is one of those anecdotal signs of a crash.

My trading programs are all lagged to hell. Rest of the internet is fine.

Tesla's Board of Directors are interested in speaking with Elon at the next meeting I think. LMAO I am pretty sure he bought in around the 30-35k mark... so he just lost all his gains that gave his company a net profit last year.

 

[Zyll Goliat]

 

[Space Lynx]

Elon is to busy sleeping, otherwise he probably would have tweeted some Doge to the moon troll crap LMAO ya snooze ya lose.

 

[RandallFlagg]

Tesla's Board of Directors are interested in speaking with Elon at the next meeting I think. LMAO I am pretty sure he bought in around the 30-35k mark... so he just lost all his gains that gave his company a net profit last year.

Yup, he also lost his spot as 2nd richest man in the world.

This will probably tank Tesla's stock more than it already has. At one time they were trading at near 1000 X PE. Now they're down to ~500-600. The historical average is 15.5

 

[trog100]

well bitcoin is currently at 34K and eth 2400..

and amidst this huge market crash my nicehash mining rewads are are showing a ridiculous $450 dollars per day or over £3000 dollars per week and over £12000 dollars per month..

the stock markets are all in the red with gold and silver up..

trog

 

[Space Lynx]

well bitcoin is currently at 34K and eth 2400..

and amidst this huge market crash my nicehash mining rewads are are showing a ridiculous $450 dollars per day or over £3000 dollars per week and over £12000 dollars per month..

the stock markets are all in the red with gold and silver up..

trog

that's just a whale buying the dip out of desperation to keep the dream alive. it will be below 30k tonight, once more hedgefunds and banks start wiping their hands clean of it, just as I predicted, they got to have their morning coffee first

 

[lexluthermiester]

POS will take ETH mining out of the equation (well not really but let's go with that) but till then prices alone wont cause miners to give up on buying GPUs. Plus, who the hell knows what could take it's place after.

Are you actually paying attention? Eth is as profitable as shoving cow-pat ATM and it's getting worse by the minute... It's crashing that fast...

EDIT: I take that back ETH has bounced back a bit in the last hour...

 

[Space Lynx]

@trog100 stocks have dipped around 1% to 1.30% in dow, nasdaq, etc.

you comparing it to BTC and ETh dropping 24% in less than 7 hour period. LOL no offense mate, but come on...

 

[dcf-joe]

What are the chances that apps like crypto.com that got all of these SSNs, drivers licenses, birth dates, addresses, are going to take that info and run to the black market with it?

 

[Vya Domus]

Are you actually paying attention? Eth is as profitable as shoving cow-pat ATM and it's getting worse by the minute... It's crashing that fast...

EDIT: I take that back ETH has bounced back a bit in the last hour...

Even if it goes down to pre-2021 levels it will still be worth mining. People have been mining this whole time since 2017 actually, obviously it wasn't as profitable but still doable.

 

[trog100]

@trog100 stocks have dipped around 1% to 1.30% in dow, nasdaq, etc.

you comparing it to BTC and ETh dropping 24% in less than 7 hour period. LOL no offense mate, but come on...

dont be silly the big crash will come later.. he he

trog

 

[RandallFlagg]

Eth is in the earlier stated 2000-2600 resistance range which includes the 50 DMA, and people who want to get out may get an opportunity on a bounce here.

^^^^^

Markets do not move in a straight line.

Also statistically, when there is a 'gap' the market moves to cover at least 50% of the gap around 90% of the time. Most people do not take advantage of that because they think the good times are back.

This gap covering bounce is likely to happen to all of the gaps down that occurred over the last 24 hours. That will not change the trend.

 

[trog100]

Even if it goes down to pre-2021 levels it will still be worth mining. People have been mining this whole time since 2017 actually, obviously it wasn't as profitable but still doable.

mining to hodle during the slump periods is actually the most long term profitable..

trog

 

[lexluthermiester]

What are the chances that apps like crypto.com that got all of these SSNs, drivers licenses, birth dates, addresses, are going to take that info and run to the black market with it?

Well, if you gave them that info you deserve to be jacked over. Why would ANYONE do that?