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Booom cryptoland is crashing!

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lory

Mentor Group Gold
Damn the coins are falling :D

What is going on in crypto- shitland?
cryptocurrency is falling Feb 2021
 

nomad999

Entrepreneur
apparently some big chinese miners have been dumping a ton of their bitcoin hard on the market and trying to profit as much as possible in the process by shorting at the same time and such.

gonna be interesting, we'll see if it rebound fast or not. clearly a lot of opportunities on many crypto ...
 

lory

Mentor Group Gold
Yeah I'm really worried right now. I made half of my btc reserve to USDC when it as 31100 and saw it go up above 57K yesterday so I thought DAMN now I think, what a wise decision :D
 

nomad999

Entrepreneur
Given that the exchange BTC inflows seem mostly to have been to the highly regulated Gemini exchange, the legal structures used by Chinese miners must be quite interesting.
yea definitely.


still a lot of activity on okex, since the blockchain is transparent a lot of the Gemini inflows could be in reaction to it. not sure who was first though ...


this is the game of whales eating all the newb playing with leverage and the weak hands selling the bottom, rekt.
spoiler alert, this is what happens next smi(&%

as always, if you want to win against the whales, simply HODL and BTFD if you can, its that simple really ...
 

Nishizawa

New member
I said it was a bubble a few days ago. So this falling is not surprising.
Since I bought 1 BTC for $500, BTC has been repeatedly rising and falling sharply. Maybe things will change after a few months. :cool:
 

Kol019201

Mentor Group Gold
This is a normal drop for bitcoin.
We had 3 other corrections over 20% just this year.
If the market recovers in the next few days we can see a new ATH in this year.
Many people cant handle these drops, then its better to stay away from bitcoin, and join in when its much bigger and the volatility is not so high anymore.

Edit:
People who are longer in this space know these drops very well. Its just a normal phenomenon. They are used to this kind of price action.
Also its possible that we will drop much lower now, especially if we fail to break 50k in the next few days. But I personally think we wont go under 40k in the near future.
 
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JackAlabama

Entrepreneur
This is a normal drop for bitcoin.
We had 3 other corrections over 20% just this year.
If the market recovers in the next few days we can see a new ATH in this year.
Many people cant handle these drops, then its better to stay away from bitcoin, and join in when its much bigger and the volatility is not so high anymore.

Edit:
People who are longer in this space know these drops very well. Its just a normal phenomenon. They are used to this kind of price action.
Also its possible that we will drop much lower now, especially if we fail to break 50k in the next few days. But I personally think we wont go under 40k in the near future.
Money printing causes this. High volatility due to this massive liquidity
 

Chappers147

New member
Been looking @whale_alert on Twitter and there have been some serious movements with coins being exchanged to wallets. This might have somthing to do with today’s events.
I still have hope that this will bounce back. Think of it as a sale.
 

John Spectre

Active Member
$58k to $45k in a day. Makes for a good currency or store of value...lol :rolleyes:

P.S Its for the speculators and shillers only.
Fully agree with you.
This scamcoin just pumped from ~4k last march to 40k+ for today, which is only nonsense 1000% roi at single year.
Could you suggest better store of value nowadays?
 

void

Entrepreneur
Fully agree with you.
This scamcoin just pumped from ~4k last march to 40k+ for today, which is only nonsense 1000% roi at single year.
Could you suggest better store of value nowadays?
volatility here is not a flaw but a feature - just a symptom of an early adoption stage which were are still in

a drop to 15k would mean absolutely nothing in long term

don't get confused by an illusive "stability" of fiat money - we will soon experience what they are worth and what is a real scam here
 
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