I hope you’re all enjoying your days off from work, pretending to be religious. As you stuff your face with delicacies and guzzle down large amounts of wine, cryptos are crashing again.
Here have a look at BTC with a 6 handle.
Here’s the aftermath truth of the matter. People like me got suckered in near the top, typical of a bubble about to burst. Even though BTC and other ICOs made terrific gains over the past 5 years, most people lost money since the popularity of bitcoin peaked with the top of the market. At its peak, the ICO asset class was worth more than $850 billion. As I write this, it is now worth just $250 billion. The result of all of that late 2017 fervor is $600 billion in losses.
WHO’S STEPPING IN NOW, DOWN AT THESE LEVELS?
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It was only a matter of time for snowflakes to realize that BTC is nothing more than “… the digital equivalent of paying people to dig ditches and fill them in again while claiming the activity boosts economic output.”
https://tinyurl.com/yb4u775n
p.s. It’s not my belief BTC is fraud, the pump-and-dump scheme unleashed on gullible snowflakes by large accounts plus the entire ICO scheme was/is fraudulent.
The “big boys” are just waiting for ppl to truly throw in the towel before starting the hype machine up again.
Wake me up when around 600, Zzzzzz.
Is there a BTC prospectus?
Not I, but ~4500$ on a heart attack drop I’d bite.
Bitcoin is probably one of the few systems that gets less efficient the more it is used. How could that possibly go wrong?
Nah man true believers will tell you 20,000 down to 6,000 ain’t nothing but a bull flag
At some point a portfolio of the 5-10 largest cryptos, equally weighted, rebalanced quarterly, will make a LOT of money. Not yet though.
I’d still wager this is a standard run of the mill bubble pop that is measured in years, where even the biggest and best fall over 80%
They call it Consolidation.