Cryptocoin Value and Market Trend Discussion

[Outback Bronze]

what happens next

Ride the wave matey : ) Ride The Wave.

 

[Bones]

Ride the wave matey : ) Ride The Wave.

The Beach Boys - Wipe Out (60's version) - YouTube

Had to.

 

[Vya Domus]

A lot of tech stocks have halved in value in last 6 months and crypto is pretty strongly correlated with them, then there is also the Luna/UST crash that erased a ton of liquidity from the crypto market. If anything with all of the rampant inflation and fear from the war I am surprised BTC and other major coins held up this well.

 

[dragontamer5788]

USDD still hasn't restored its peg, but it hasn't gotten much worse, staying at 97.5 cents now.

The underlying coin, Tron (TRX symbol) is holding steady at 0.061 (off of 0.8 from last week).

Continuing this mini-thread on stablecoins... USDD has fallen to 94.6 cents while TRX remains at 0.060.

USDT / Tether is 99.8 cents, kinda sorta off the peg but maybe not enough to make news yet.

 

[lexluthermiester]

Continuing this mini-thread on stablecoins...

This is not a minithread about stablecoins. If you're going to start with the nonsense you can show yourself out.

 

[cvaldes]

BTC and ETH dead cat bounce?

BTC 20,549.19 (+8.00% past 24 hours)
ETH 1,130.94 (+14.79% past 24 hours)

 

[Dr. Dro]

BTC and ETH dead cat bounce?

BTC 20,549.19 (+8.00% past 24 hours)
ETH 1,130.94 (+14.79% past 24 hours)

Those who have a big stake in it will do anything in their power to stop it from collapsing further at this point. If this effort fails, we will see it continue to tumble. Which I frankly hope it does.

 

[dragontamer5788]

This is not a minithread about stablecoins. If you're going to start with the nonsense you can show yourself out.

Given that Luna + UST was the cause of the crash about a month ago, I'm pretty sure the value of stablecoins is tied to the value of BTC / ETH, and vice versa.

As these stablecoins collapse, it seems like the greater cryptocoin market collapses with them.

-------

TRX / Tron is absolutely a cryptocoin as well. And the USDD stablecoin's peg is directly related to the strength of TRX / Tron.

 

[cvaldes]

Those who have a big stake in it will do anything in their power to stop it from collapsing further at this point. If this effort fails, we will see it continue to tumble. Which I frankly hope it does.

Unsurprisingly, it appears Elon Musk is involved:

Elon Musk Says He Is Buying the Crypto Dip - TheStreet

The billionaire and CEO of Tesla is an evangelist of digital currencies like Dogecoin and Bitcoin.

www.thestreet.com

It's probable that his statement on buying Dogecoin on the dip is affecting other cryptos.

 

[dragontamer5788]

Unsurprisingly, it appears Elon Musk is involved:

Elon Musk Says He Is Buying the Crypto Dip - TheStreet

The billionaire and CEO of Tesla is an evangelist of digital currencies like Dogecoin and Bitcoin.

www.thestreet.com

It's probable that his statement on buying Dogecoin on the dip is affecting other cryptos.

Musk has been involved for some time. His Tesla company already bought tons of Bitcoin, and Musk had the whole SNL Dogecoin pumping (and maybe dumping?) going on a few months ago.

Its not the price that's causing people to lose faith in cryptocoin though. Its all the rumors of stuck withdrawals at Celsius and other locations. I was seeing a ton of people claiming that even Coinbase is unsafe (without much evidence), but that's showing how far this "deposits scare" has come.

It doesn't matter how much BTC you allegedly have at a location if those locations just close up shop and disallow you from withdrawing. That's the fear running through the community right now.

 

[cvaldes]

Maybe they should try a paper wallet.

 

[R-T-B]

Is this Mt. Gox cashing out?

Mt. Gox is dead and tied up in Japanese court for years after crooks robbed them nearly a decade ago so doubtful as heck.

Musk has been involved for some time. His Tesla company already bought tons of Bitcoin, and Musk had the whole SNL Dogecoin pumping (and maybe dumping?) going on a few months ago.

Its not the price that's causing people to lose faith in cryptocoin though. Its all the rumors of stuck withdrawals at Celsius and other locations. I was seeing a ton of people claiming that even Coinbase is unsafe (without much evidence), but that's showing how far this "deposits scare" has come.

It doesn't matter how much BTC you allegedly have at a location if those locations just close up shop and disallow you from withdrawing. That's the fear running through the community right now.

Honestly Elon is part of the reason I personally lost faith in crypto, lol.

This is not a minithread about stablecoins. If you're going to start with the nonsense you can show yourself out.

stable coins falling off their peg is indeed price news.

 

[Bones]

stable coins falling off their peg is indeed price news.

I agree, all of it is tied in together/interlaced so if the value of one changes, another is affected.

Fact remains it's like when a market using real money is affected "Over There" and there is a ripple effect affecting our market "Over Here" - It happens and not alot you can do except bear it until it's over.

 

[dragontamer5788]

Mt. Gox is dead and tied up in Japanese court for years after crooks robbed them nearly a decade ago so doubtful as heck.

Mt.Gox Trustee Will Repay 150,000 BTC Lost by Users in 2014 When 1 BTC was $320 - Tokenist

Mt. Gox's trustee would soon distribute 150,000 BTC to the exchange's creditors, a move that could possibly halt BTC's recent gains.

tokenist.com

That saga is nearing its end. For all we know, the 150,000 BTC selling off was the start to this entire cryptocurrency crash. (I don't know if the Mt. Gox selloff has started yet but... its a giant pile of BTC you definitely want to be watching right now).

The Mt. Gox trove of 150,000 BTC is one of the biggest sources of "sudden BTC sell pressure" that will randomly come onto the market. The Mt. Gox saga is still not yet over, because Japanese Courts too their sweet-ass time figuring this one out, lol.

https://www.mtgox.com/img/pdf/20211116_announcement_en.pdf

The final plan to distribute the remaining pile of Mt. Gox BTC was finalized in November 2021.

 

[lexluthermiester]

stable coins falling off their peg is indeed price news.

While that is true, the discussion is exclusively about values and market trends, thus the name of the thread. News and general discussion belong in the General discussion thread found linked below.

General Cryptocoin Discussion

As many threads seem to get side-tracked with general discussion about cryptocoin, we need a thread where discussion about the subject that can meander from any one aspect as the users need it too. This is a general discussion about cryptocoin and all topics about this subject are welcome...

www.techpowerup.com

Move the off topic discussion over there folks or the mods will be asked to help you out.

 

[R-T-B]

Mt.Gox Trustee Will Repay 150,000 BTC Lost by Users in 2014 When 1 BTC was $320 - Tokenist

Mt. Gox's trustee would soon distribute 150,000 BTC to the exchange's creditors, a move that could possibly halt BTC's recent gains.

tokenist.com

That saga is nearing its end. For all we know, the 150,000 BTC selling off was the start to this entire cryptocurrency crash. (I don't know if the Mt. Gox selloff has started yet but... its a giant pile of BTC you definitely want to be watching right now).

The Mt. Gox trove of 150,000 BTC is one of the biggest sources of "sudden BTC sell pressure" that will randomly come onto the market. The Mt. Gox saga is still not yet over, because Japanese Courts too their sweet-ass time figuring this one out, lol.

https://www.mtgox.com/img/pdf/20211116_announcement_en.pdf

The final plan to distribute the remaining pile of Mt. Gox BTC was finalized in November 2021.

Aparently I was out of date on this, thanks.

 

[trog100]

monday morning.. bitcoin now at 20K with eth at 1.1K.. the downwards trend seem to have stopped for now..

bitcoin and eth matter everything else is just noise..

trog

 

[lexluthermiester]

monday morning.. bitcoin now at 20K with eth at 1.1K.. the downwards trend seem to have stopped for now..

bitcoin and eth matter everything else is just noise..

trog

It's likely just rollercoastering..

 

[ppn]

Part of the community just buys the dip blindly. And there is a strong incentive to keep buying the dip because it just works. But those will become weaker over time. In 2018 ETh stopped at $300 then recovered to 600 only to continue the downward trend. So there may be one last buying opportunity for those willing to lose it all. When it drops too fast it tends to recover to a less downhill slippery slope like the one in april.

 

[dragontamer5788]

Well, a lot of sideways movements since the last burst of discussion.

Kinda boring, which is probably good. Its like this weird state of stasis, Celsius and 3AC are both severely in trouble, and there's rumors that all sorts of other companies are related to them and their issues. But nothing so far.

 

[dragontamer5788]

Crypto hedge fund Three Arrows Capital plunges into liquidation as market crash takes toll

A slump in cryptocurrency prices, which has seen billions of dollars wiped off the market, has exposed a liquidity crisis at Three Arrows Capital.

www.cnbc.com

Its hard to "explain" why BTC is dropping today. But my unsupported bet is it has to do with the Three Arrows Capital liquidation order?? There's some rumors going around Twitter about Tether and USDC, but I'm not sure if I can trust those stories.

I mean, all this information is kind of a crap shot. No one really "knows" why the market is up or down on any particular day. There's just general feelings why people are selling (or on the uptrend, buying).

 

[trog100]

the everything bubble is in the process of bursting.. crypto is just part of it..

the general trend is down.. as its likely to remain for a while yet..

trog

 

[ThrashZone]

the everything bubble is in the process of bursting.. crypto is just part of it..

trog

Hi,
Where you been man rounding up and burying your gold coins

 

[Metroid]

Hi,
Where you been man rounding up and burying your gold coins

It's funny, I warned everybody about it, some wise ones listened to me and right now are pretty good, the ones who haven't, are definitely ******, nobody believed me when I said btc would crash back below 20k and 70% chance to crash below 10k to 9.6k and when I said that btc was 65k, they laughed at me, but like I said history would repeat itself again just like 2018 and guess what, it did just that. Where are the so called professional specialists of crypto, where are they now? Anyway I have been in this scam crypto market since 2011, so I know where this thing will always go, every cycle is the same bs and the same thing happens, history always repeats itself but then again you always see sheeps, trolls and idiots saying --> "This time will be different", when a new cycle happens, and I always say -> yeah, right hehe

 

[R-T-B]

It's funny, I warned everybody about it, some wise ones listened to me and right now are pretty good, the ones who haven't, are definitely ******, nobody believed me when I said btc would crash back below 20k and 70% chance to crash below 10k to 9.6k and when I said that btc was 65k, they laughed at me, but like I said history would repeat itself again just like 2018 and guess what, it did just that. Where are the so called professional specialists of crypto, where are they now? Anyway I have been in this scam crypto market since 2011, so I know where this thing will always go, every cycle is the same bs and the same thing happens, history always repeats itself but then again you always see sheeps, trolls and idiots saying --> "This time will be different", when a new cycle happens, and I always say -> yeah, right hehe

The part I didn't buy was the crash to zero (still aren't there btw). No one was calling you on the other crap being impossible, just that it was impossible you could've known for certain. Still is.