iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
21,503 Blog Posts

CRYPTOS CRASH THRU THE FLOORBOARDS; THE ASIANS ARE TO BLAME

Over the past few hours BTC has dropped nearly 10,000 points — ushering in hell for crypto traders who thought they’d make it. Here is the PIN ACTION since midnight eastern time.

This coincided with the Asians waking up from their slumber. Almost uniformly, as soon as they drank their morning tea — they sold BTC and ETH and shit on coins like LTC. We can only blame this rout, inexorably, on the good people from the orient.

Having much of my liquid net worth tied up in ETH, I do not enjoy seeing it cascade lower. But I can’t help but to laugh, in a maniacal way of course. Ethereum will inherit the blockchain and clean up the blood and the guts left by all of the lower quality coins and traders. Those people are dead now, leveraged in Asia, and now we shall rise once again — but this time without them.

The tree of liberty is being replenished with the blood of the weak and mentally handicapped. I will not buy dips because I am not a monkey. I do not throw glasses of water into a large reservoir and expect a tangible opportunity to result from such actions. Instead, I sit and I watch — sticking to my plan of liquidating all of my ETH in 2022.

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10 comments

  1. tradercaddy

    Yeah, but can I still buy a Tesla with a Bitcoin?
    Down to a Model 3 , but probably not for long.
    A Musk tweet to the rescue?

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  2. roguewave

    A month of gainz, poof. It’s only happened 13 times before.

    In other news, Dollar Tree is now Dollar.25 Tree.
    Probably nothing

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    • roguewave

      “There’s no financial education in the schools and it’s not a mistake.”
      Rich Dad

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  3. awanka

    It’s a 1-2 combo with Chinese stocks crushing portfolios, Mr. Fly

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  4. bob smith

    “liquidating all of my ETH in 2022.”

    If you are among the last to get off of that train, you will find yourself under water.

    If ETH or crypto in general were really genuine assets, people wouldn’t be unloading them… ever. In contrast, if cryptos are just another “tulip bulb,” the first to get off the sinking boat will be the only survivors.

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  5. s.k.

    Omicron variant is turning out to be a less virulent and fairly mild mutation, shattering your alarmist proclamations that the vaccines cause ADE.

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  6. moosh

    Why and how did you attribute this coronavirus variant to a mutation of c19? Coronaviruses have been present since science discovered them and even before then, if you can fathom the thought

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