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Dec 4 - bitcoin.....rapidly decapitates 17% since yesterday



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 2 months ago '09        #1
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messy marv stan  topics gone triple plat - Number 1 spot x76
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Dec 4 - bitcoin.....rapidly decapitates 17% since yesterday
 

 
visit this link https://www.cnbc.com/2021 .. p-sharply.html


Bitcoin prices dropped sharply overnight Saturday, plunging to a low near $43,000.

The world’s most prominent cryptocurrency pared losses subsequently, last changing hands at around $48,429, according to Coin Metrics

From a 24-hour period spanning early Friday morning to early Saturday morning, bitcoin’s price went from about $57,000 to $47,000, losing $10,000, or more than 17%

The price of ether also dived to a low near $3,500 on Saturday. It came back somewhat afterward, trading near $3,870. Ether, the world’s second-largest digital coin by market value, lost more than 16% from Friday morning around 8 am ET through to Saturday 8 am ET.


Crypto began falling Friday as stocks pulled back and investors fled to the safety of Treasuries, pushing the 10-year yield lower. Risky tech stocks were among the biggest losers on Wall Street on Friday, with Tesla shedding 6%. The ARK Innovation fund lost 5% on Friday and 12% on the week.

As the sentiment soured in the tech space, those investors may have also started unloading their crypto.

But there was no clear reason for the cryptocurrency drop, especially overnight Saturday when the losses accelerated

“The evidence points to this being yet another derivative-induced selling event,” wrote J.C. Parets, chief market strategist for All Star Charts technical research, in a note Saturday morning. “The September flash crash had the same drivers as this selloff — leverage was flushed from the system in a violent fashion, which later enabled the market to eventually move higher toward a new all-time high in October.”

Both cryptocurrencies have experienced turbulent trade since the omicron Covid variant emerged, tracking global stock markets which have been also volatile. On Nov. 26, bitcoin hit a seven-week low close to $54,000, officially entering bear market territory.


image Bitcoin is now down about 30% from an all-time high close to $69,000, which it hit in early November. Bear markets are typically defined as a decline of 20% or more from recent highs.

The World Health Organization on Friday said the Covid omicron variant has been detected in 38 countries, up from 23 two days ago, with early data suggesting the strain is more contagious than delta


"Our expectation for the coming days/weeks is sideways choppy price action. A contraction and basing process is likely to take place after such a violent move and we want to treat sharp upward rallies suspiciously right now,” added Parets.
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74 comments
 

 2 months ago '18        #2
SFamilyRep  topics gone triple plat - Number 1 spot x4
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This is a blessing
+24   

 2 months ago '14        #3
strungout  topics gone triple plat - Number 1 spot x7
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i should have pulled out on thursday'


i almost hit the sell button but decided not to , where all in this in the money, so why dont we sell when its at top, its not like we are making use of the coins or using it for apps or whatever
-1   

 2 months ago '16        #4
Proveone  topics gone triple plat - Number 1 spot x4
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 SFamilyRep said
This is a blessing


+9   

 2 months ago '18        #5
SFamilyRep  topics gone triple plat - Number 1 spot x4
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 strungout said
i should have pulled out on thursday'


i almost hit the sell button but decided not to , where all in this in the money, so why dont we sell when its at top, its not like we are making use of the coins or using it for apps or whatever
Because most people are in it for the long haul for generational wealth G’z. If you don’t have trading experience stick to hodling.
+15   

 2 months ago '16        #6
BathWaterMelody  topics gone triple plat - Number 1 spot x9
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 Pizzabox said
How low is it gonna go?!
the next floor for BTC looking like 40K-41K by my calculation, but there's quite a few altcoins maintaining value alongside ETH which is floating above 3.8K-3.9K
+5   

 2 months ago '09        #7
messy marv stan  topics gone triple plat - Number 1 spot x76 OP
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 BathWaterMelody said
the next floor for BTC looking like 40K-41K by my calculation, but there's quite a few altcoins maintaining value alongside ETH which is floating above 3.8K-3.9K




thumbnail source
+9   

 2 months ago '16        #8
Head Coach 
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 strungout said
i should have pulled out on thursday'


i almost hit the sell button but decided not to , where all in this in the money, so why dont we sell when its at top, its not like we are making use of the coins or using it for apps or whatever
Alot of people pull out at the end of the year cuz of taxes but it should go back up January
+3   

 2 months ago '14        #9
strungout  topics gone triple plat - Number 1 spot x7
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 Head Coach said
Alot of people pull out at the end of the year cuz of taxes but it should go back up January
i dont know how taxes work but doesn't it make more sense to pull out in january , so you dont have to pay taxes for this upcoming ?? i dont know..
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 2 months ago '13        #10
North!!!  topics gone triple plat - Number 1 spot x9
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Buy the dip
+5   

 2 months ago '08        #11
Inglewood's Own 
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Fire sale
+1   

 2 months ago '11        #12
Sin  topics gone triple plat - Number 1 spot x46
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 strungout said
i dont know how taxes work but doesn't it make more sense to pull out in january , so you dont have to pay taxes for this upcoming ?? i dont know..
If you pulled out in January it would count towards 2022 taxes
+1   

 2 months ago '11        #13
Sin  topics gone triple plat - Number 1 spot x46
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Who remembers the December 2018 market crash






By February it was like nothing ever happened

BTC dropped from 6k in October to 3k in November, December before going back up





Last edited by Sin; 12-04-2021 at 03:55 PM..
+8   

 2 months ago '17        #14
92baby 
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 BathWaterMelody said
the next floor for BTC looking like 40K-41K by my calculation, but there's quite a few altcoins maintaining value alongside ETH which is floating above 3.8K-3.9K
Eth looks good from a bleeding stand point

When Bitcoin corrects and dips that bi*ch might fu*k around and go
To 36k any given Sunday

I really want eth to fall back cuz I know it’ll push past ath eventually

sh*t would be at 10k easy if they ain’t have them
Punk a*s gas fees
+1   

 2 months ago '18        #15
BrooklynDamien  topics gone triple plat - Number 1 spot x2
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 Pizzabox said
How low is it gonna go?!
A few coins hit my mark.

might be time for the alts to run. If it is, btc is about to take a break. Posted on here where I thought btc could fall to a while ago. I don't remember. Not really paying attention to btc rn
+2   

 2 months ago '17        #16
justin747  topics gone triple plat - Number 1 spot x5
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sportsbook top 10
-1   

 2 months ago '05        #17
nawtyxes 
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Thoughts on dogecoin?

 2 months ago '19        #18
Occult Mayne  topics gone triple plat - Number 1 spot x10
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 BrooklynDamien said
A few coins hit my mark.

might be time for the alts to run. If it is, btc is about to take a break. Posted on here where I thought btc could fall to a while ago. I don't remember. Not really paying attention to btc rn
What app is that?

 2 months ago '16        #19
Head Coach 
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 strungout said
i dont know how taxes work but doesn't it make more sense to pull out in january , so you dont have to pay taxes for this upcoming ?? i dont know..
I think what happens is their selling off the sh*t they lost money on so when they report it they owe less taxes, then buy it back in Jan for cheap

Mostly a strategy for the big players and companies I beleive, probly better for you and me to hold

"Tax-loss harvesting allows*you to sell investments that are down, replace them with reasonably similar investments, and then offset realized investment gains with those losses. The end result is that less of your money goes to taxes and more may stay invested and working for you."
+5   

 2 months ago '06        #20
Blockburner28  topics gone triple plat - Number 1 spot x1
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Time to buy
+5   

 2 months ago '18        #21
BrooklynDamien  topics gone triple plat - Number 1 spot x2
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 Occult Mayne said
What app is that?
That's just yahoo finance. I set alerts in there.
The indicators there are useful too. Trading view is kinda wack on my phone
+2   

 2 months ago '19        #22
aaf192020  topics gone triple plat - Number 1 spot x3
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This shxt is cyclical. Shxt doesn't phase me at all. Only mfers who are tripping are the ones who aren't invested for the long term.
+5   

Top 10 most slapped recently  2 months ago '18        #23
jakepaulstan  topics gone triple plat - Number 1 spot x3
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Buy the dip
And if that dip dips, then buy the dip
And if the dip that already dipped twice dips again, buy the dip

Etc etc
+5   

 2 months ago '16        #24
Head Coach 
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 strungout said
i should have pulled out on thursday'


i almost hit the sell button but decided not to , where all in this in the money, so why dont we sell when its at top, its not like we are making use of the coins or using it for apps or whatever
Also instead of selling you might could trade for a stable coin like tether that holds the value of the dollar so that way you don't risk your money or pay taxes cuz you didn't cash out,

then next year trade it back
+4   

 2 months ago '12        #25
chapz 
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normal stuff
+1   



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