This is not looking good for Crypto. Bitcoin is around 24K USD today after a ~10% fall. Other major crypto are following or likely to follow .. Terra Luna fiasco was just the trailer .. The whole movie is going to be more horrifying ..
Volatility isn't a virtue for a currency. It's fine for speculative financial vehicles that involve cryptography in some way, though. That vehicle might be driving to $0, though.
This crash has the sparkle of DeFi, which makes it more toxic. With the amount of leverage we're seeing peek it's head up, and the size of these yield farming ponzis, the fallout could finally breach the barrier into real-world finance.
Do these line up with major markets downtowns? Fwiw, all major markets are down like 3% (so far) today. Crypto behaves more like a stock and typically when there are market downturns the more volatile stocks are impacted much more.
toolz|3 years ago
bitcoin falls 56% - 2012
bitcoin falls 83% to $50 - 2013
bitcoin falls 84% to 12k - 2017
bitcoin falls ~50% to ~30k - 2021
"crypto is not looking good long term" - numerous people on hacker news every single time crypto is down.
lm28469|3 years ago
So either way you're making the same argument as the "crypto is not looking good long term" people
lolsal|3 years ago
celestialcheese|3 years ago
spupe|3 years ago
You should welcome all the nay saying here if you think Bitcoin is bound to go up again.
matt_s|3 years ago
BenoitP|3 years ago
jjfoooo4|3 years ago
bfgoodrich|3 years ago
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geerlingguy|3 years ago
DonHopkins|3 years ago
foepys|3 years ago
dan1234|3 years ago
Could be an interesting week.
unknown|3 years ago
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altdataseller|3 years ago