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Crypto is going down the toilet!

The German and US government sold large amount of crypto I read.

From what I read it is only BTC they sold why are all coins affected now and going down so much.

ETH is below 3000$ right now and bitcoin 55K !!!

I don't know but my guess would be:
one has bitcoin, knows it's real money but it's boring and doesn't grow fast enough to buy lambo next week, uses btc as collateral to buy some shitcoin on steroids expecting turbo surge, then mafias decide (well timing by the way, congrats) to sell the btc they stole, which puts pressure on the collateralized asset which gets force liquidated and one has nothing left other than some worthless centralized token and panic sells to safe at least something, hence the impact on the price

just my one minute theory... things are usually more complicated though
 
Btc is dead again

IMG_7680.jpeg
 
People have been getting spooked in stocks for hundreds of years too! When the price of their favorite stock drops (read discount on their favorite company), they ALL sell! :oops:

I look at it this way...

  1. I bought my dream home on the beach with a farm producing 1M in profit/year, where only beautiful girls are allowed for 5M, and I have a mortgage of 4 M.
  2. My neighbors, whose homes are also 5M and they have a farm producing 1M/year profit, start getting offers on their homes for 500K and panic sell at 1 M.
Why in God's name should I follow such anencephalic foolishness? :rolleyes:
 
People have been getting spooked in stocks for hundreds of years too! When the price of their favorite stock drops (read discount on their favorite company), they ALL sell! :oops:

I look at it this way...

  1. I bought my dream home on the beach with a farm producing 1M in profit/year, where only beautiful girls are allowed for 5M, and I have a mortgage of 4 M.
  2. My neighbors, whose homes are also 5M and they have a farm producing 1M/year profit, start getting offers on their homes for 500K and panic sell at 1 M.
Why in God's name should I follow such anencephalic foolishness? :rolleyes:
The problem with BTC is that there are no beautiful girls lying on them.
 
1 BTC is still 1 BTC.

The current dip is a gift for all the people who still have money on the sidelines.

MTGox assets & German government thugs selling the crypto they stole can only hold it down for so long, next year at the same time there will be many who will regret not buying this correction.

Holding strong here, I wish I had some fiat left :)
 

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