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3 reasons behind the crypto crash that dragged Bitcoin below $50K



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 2 months ago '19        #1
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The Dogefather  topics gone triple plat - Number 1 spot x15
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3 reasons behind the crypto crash that dragged Bitcoin below $50K
 

 
Why is the cryptocurrency market crashing?

It’s always hard to pinpoint an exact cause, but in this case, there seem to be a number of factors at work.

Just to give you an idea of the magnitude of the drop (though the price of bellwether Bitcoin (BTC-USD) had recovered a bit by early Saturday afternoon to above $48,000, from a low of around $45,000), understand that BTC was testing $57,000 just Friday. The move from then to this afternoon’s levels represents a 14.2% drop.

Other digital coins like Ethereum (ETH-USD) have also plunged over the past 24 hours as well. Republicworld.com notes that “the total crypto market cap fell from $2.6 trillion on Friday to $2.07 [trillion] on Saturday. The total market value touched $3 trillion last month, for a very short time.”

So what gives here?

THE FED

First weakness in plain vanilla equities, in part brought about by Federal Reserve taper talk, has investors spooked by speculative a*sets. Famed investor Louis Navellier’s warned “that the US Federal Reserve’s tapering could burst the Bitcoin and crypto bubble.”

Navellier said the Fed’s tapering “should create a correction in risk a*sets, of which Bitcoin is a part.” He also warned that Bitcoin’s price could drop below $10,000.

THE COVID

Obviously the Omicron variant outbreak and the uncertainty surrounding its severity – and the efficacy of vaccines, which is still to be determined – also has investors running for the hills, (which I touched on yesterday.)

THE HOLIDAYS

Also, ‘tis the season. Many investors seeing the year winding down are looking to lock in gains and take money off the table. After all, even with recent decline, BTC is still up 66% year to date (Bitcoin started the year around $29,400)

Where do we go from here? Always hard to tell. For sure winter is coming. But is it crypto winter?

If I were to guess, I would say that the severity (or not) of Omicron could be a big determining factor.




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31 comments
 

 2 months ago '19        #2
aaf192020  topics gone triple plat - Number 1 spot x3
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I really don't like to blame one thing for why a market is down but it's obvious the Biden administration is hellbent on handicapping crypto by any means necessary. I understand there are other mitigating factors but I feel like there might be one last squeeze of juice left before I take my money out and let the Fed do whatever it is they're going to do early next year.
+5   

 2 months ago '18        #3
BrooklynDamien  topics gone triple plat - Number 1 spot x2
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Time. It's always time. Ppl always say you can't time stocks and crypto but there's plenty of things like bewitching option Fridays, vix crush Fridays, Santa rallies, tax dump end of year, election year booms, summer swoons, all of these cliched names for time periods through out the year lol if anybody wants to learn more about it, wd gann is your man. He actually made something like a clock for the year, starting at the spring solstice in March. Pick your stock or coin of choice and look up the dates yourself, apple, tesla, btc, xrp, whatever and see how they reacted near these dates.

They are turning points. Local highs and lows. He predicted the 52 week highs and lows too. They are more subjective than these general dates. Without any type of technical analysis knowledge y'all could get down and study a stock using these dates and do ok.

Another guy I look at for cycles is Ralph Nelson Elliott. He started elliot wave theory and uses the fibonacci math sequence which you'll see pop up on pivot points if you look. Micro and macro. Minutes, to days to weeks, months and yearly cycles. They are there. How many times have you heard them say the market dumped on no news?

They find a reason why and when there isn't one they'll just say they don't know lol it moved on no news. It's time.

Willing to chop it up with anybody interested in it.
+35   

 2 months ago '07        #4
jhj26  topics gone triple plat - Number 1 spot x1
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+7   

 2 months ago '16        #5
YungSplash 
Props total: 1582 1 K  Slaps total: 222 222
It ain't none of them reasons. It's because the prices on the stock market are mostly fake and the institutions that own the majority has been using crypto as a bank account to pay for shares to short securities. The market will "stabilize" after the AMC-GME sh*t done.
+11   

 2 months ago '18        #6
dogfood2 
Props total: 21606 21 K  Slaps total: 13521 13 K
Smh we shouldn't of put old bi*ch a*s Biden in the white house. Need him to get the jfk, everything off the top soon.
+4   

 2 months ago '19        #7
MarathonOG 
Props total: 1594 1 K  Slaps total: 461 461
Gotta love a world view so narrow you blame Biden lol.

How about whales took your cash?

Now be the good little plebs you are and buy all the way back up again so you can get rug pulled in your sleep.

Washhhhhh
+3   

Top 10 most propped recently  2 months ago '04        #8
Adwerdz  topics gone triple plat - Number 1 spot x72
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Jim Crow Joe

 2 months ago '04        #9
thetrapper 
Props total: 4198 4 K  Slaps total: 213 213
it was an options writer whose account got nuked non story
big account overleveraged and got liquidated which caused panic selling

 2 months ago '15        #10
Chasefovea 
Props total: 7513 7 K  Slaps total: 2501 2 K
OP it’s just a story we already knew for 2 months bitcoin was going to 45K , My students and I made a sh*t load of money. People always wanna attach a reason or story for clout. Just read the charts and make money.












If you would like to join free room I will leave link below


+4   

 2 months ago '15        #11
Chasefovea 
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After & Before below op.





+2   

 2 months ago '20        #12
Chern 
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4: Leveraged paper hands
+4   

 2 months ago '14        #13
brotheramir 
Props total: 3033 3 K  Slaps total: 398 398
 dogfood2 said
Smh we shouldn't of put old bi*ch a*s Biden in the white house. Need him to get the jfk, everything off the top soon.

 2 months ago '15        #14
Belief 
Props total: 7175 7 K  Slaps total: 930 930
 Chasefovea said
After & Before below op.
What’s next?

 2 months ago '19        #15
48laws  topics gone triple plat - Number 1 spot x12
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Here comes that f*g**t @


+4   

 2 months ago '17        #16
justin747  topics gone triple plat - Number 1 spot x5
Props total: 182794 182 K  Slaps total: 27732 27 K
sportsbook top 10
 48laws said
Here comes that f*g**t @


Crash:





Recovery:






Don't be mad at me because Crypto won't save you from working the fry station on the midnight shift.


 2 months ago '11        #17
MACADEMICS 
Props total: 12971 12 K  Slaps total: 1103 1 K
Someone needed liquidity, and lot of it (around 2.9B got liquidated on Friday). Funny how Friday BTC dumped 18% in around 37 mins and Evergrande announced that it would not be able to make payments amounting to 300B in liabilities. Whoever is long on Evergrande and other Chinese RE companies or holding their commercial paper (Tether) are about to get REKT.

GME has earnings next week, LRC is gearing up to announce their partnership with a premier gaming company before the end of the month and banking will be moving to SOFR on the 31/12.

Buckle up #MOASS




Monthly BTC chart showing a classic M reversal - I am expecting BTC to continue to the downside with a support level at $41,800 and a second support at $34,200


Last edited by MACADEMICS; 12-05-2021 at 02:11 PM..
+5   

 2 months ago '20        #18
Chern 
Props total: 424 424  Slaps total: 24 24
bounced hard off that 200d and futures open interest decreased by 18% from that puke. i'm expecting some consolidation and all risk a*sets to rally this week, personally but who knows.

that VIX blowoff move on Friday, and interest rate version of VIX (MOVE) looks ready to roll over

 2 months ago '19        #19
MP2019  topics gone triple plat - Number 1 spot x1
Props total: 13963 13 K  Slaps total: 1614 1 K
I can’t believe how retarded some of you are.

#tether

@ these guys really believe that people are wiring 1B on the weekend to buy tether to buy btc instead of buying btc directly lmao


Last edited by MP2019; 12-05-2021 at 07:14 PM..
+1   

 2 months ago '17        #20
justin747  topics gone triple plat - Number 1 spot x5
Props total: 182794 182 K  Slaps total: 27732 27 K
sportsbook top 10
 MP2019 said
I can’t believe how retarded some of you are.

#tether

@ these guys really believe that people are wiring 1B on the weekend to buy tether to buy btc instead of buying btc directly lmao
It makes ZERO sense, but somehow they get mad at me for pointing this out





 2 months ago '15        #21
jon0h 
Props total: 1692 1 K  Slaps total: 112 112
 BrooklynDamien said
Time. It's always time. Ppl always say you can't time stocks and crypto but there's plenty of things like bewitching option Fridays, vix crush Fridays, Santa rallies, tax dump end of year, election year booms, summer swoons, all of these cliched names for time periods through out the year lol if anybody wants to learn more about it, wd gann is your man. He actually made something like a clock for the year, starting at the spring solstice in March. Pick your stock or coin of choice and look up the dates yourself, apple, tesla, btc, xrp, whatever and see how they reacted near these dates.

They are turning points. Local highs and lows. He predicted the 52 week highs and lows too. They are more subjective than these general dates. Without any type of technical analysis knowledge y'all could get down and study a stock using these dates and do ok.

Another guy I look at for cycles is Ralph Nelson Elliott. He started elliot wave theory and uses the fibonacci math sequence which you'll see pop up on pivot points if you look. Micro and macro. Minutes, to days to weeks, months and yearly cycles. They are there. How many times have you heard them say the market dumped on no news?

They find a reason why and when there isn't one they'll just say they don't know lol it moved on no news. It's time.

Willing to chop it up with anybody interested in it.
Hearing you not only mention Gann but show the dates gives me a good feeling about you lol. Definitely wanna throw some questions your way. I could DM you if you prefer.
+1   

 2 months ago '18        #22
BrooklynDamien  topics gone triple plat - Number 1 spot x2
Props total: 50944 50 K  Slaps total: 3982 3 K
 jon0h said
Hearing you not only mention Gann but show the dates gives me a good feeling about you lol. Definitely wanna throw some questions your way. I could DM you if you prefer.
Either way is cool bro. I just learned something major today too! Didn't get to back test it yet bc I'm watching the f*ght but I can't wait to. Literally learned this and then heard the f*ght was on lol Its the fib sequence sq roots x the moon cycle months. 1,1,2,3,5,8,13,21 etc times 29.5, 59 etc with 5 dates taken out bc they are duplicates or beyond the natural calender year. I already had dec 20 circled but I want to see what this new cycle i learned forecasts
+1   

 2 months ago '15        #23
jon0h 
Props total: 1692 1 K  Slaps total: 112 112
 BrooklynDamien said
Either way is cool bro. I just learned something major today too! Didn't get to back test it yet bc I'm watching the f*ght but I can't wait to. Literally learned this and then heard the f*ght was on lol Its the fib sequence sq roots x the moon cycle months. 1,1,2,3,5,8,13,21 etc times 29.5, 59 etc with 5 dates taken out bc they are duplicates or beyond the natural calender year. I already had dec 20 circled but I want to see what this new cycle i learned forecasts
No worries lol. That sounds interesting
as well. Is there more components to the formula? You could wait to you mess with it some more and lmk the for sure workings of it if you prefer. What I wanted to ask about was if you knew anything about the equatorial circumference and how it relates to market swings. I've been tinkering with it some but haven't gotten the exact formula to really calculate up/down days


Last edited by jon0h; 12-06-2021 at 06:00 PM.. Reason: Typo
+1   

 2 months ago '18        #24
BrooklynDamien  topics gone triple plat - Number 1 spot x2
Props total: 50944 50 K  Slaps total: 3982 3 K
 jon0h said
No worries lol. That sounds interesting
as well. Is there more components to the formula? You could wait to you mess with it some more and lmk the for sure workings of it if you prefer. What I wanted to ask about was if you knew anything about the equatorial circumference and how it relates to market swings. I've been tinkering with it some but haven't gotten the exact formula to really calculate up/down days
The new sequence has 2 more days than the natural gann days. 21 vs 19. I am looking at ftm token bc I'm trading the leveraged coin on kucoin right now. So I go to the beginning of the gann year and look for a high or low there. There was a high back in feb, like the 17th or so, there was a low closer to the gann date of March 21, so I picked that one. The 24th of March. From there I just go through the sequence, 29.5 days from the 24th then 41.8 days from 4/23 and so on. I also did it where the sequence is all from march 24th and it's hitting both ways... crazy bro. Everything the first way was lows except the 41.8 days from 4/23, which was a bullseye high. The next day in the first iteration of the sequence is feb 17th next year... and the next date for the 2nd timing method is in like a week or so... I haven't heard of the equatorial circumference affecting swings at all. That sounds interesting af. I am wondering how the calculations are made. Gann uses the planets coordinates, moon, sun, I haven't gotten that part yet. Just getting familiar with astrology and natal charts. I'm really good with the angles already


Btc lined up nicely and I expect it to bounce on these levels on the way down too. The planets are catalysts though. The angles i draw tell me where the price will go, or can go, but the planets are the why and when.

The clock and calender that we use isn't sufficient in keeping time. I'm going to run btc through that moon sequence, amc, spy, vxx and a few other things, gold, usdx. How far have you gotten with your the equatorial circumference technique? Are you getting pivot points, buying targets or support/resistance with it yet?


That's the moon calendar cycle x the fibonacci square roots. I didn't come up with that. There's a lot of Indian cats that study gann. I learned it from one of them just now. I did make something like a clock on my own though. Every 9 degrees is about 4 hours on the daily chart and the price responds to it more than it doesn't. Sometimes price will blow right through the resistance line but 9, 18, 36, 54 are degrees price will rest on most times

 2 months ago '15        #25
jon0h 
Props total: 1692 1 K  Slaps total: 112 112
 BrooklynDamien said
The new sequence has 2 more days than the natural gann days. 21 vs 19. I am looking at ftm token bc I'm trading the leveraged coin on kucoin right now. So I go to the beginning of the gann year and look for a high or low there. There was a high back in feb, like the 17th or so, there was a low closer to the gann date of March 21, so I picked that one. The 24th of March. From there I just go through the sequence, 29.5 days from the 24th then 41.8 days from 4/23 and so on. I also did it where the sequence is all from march 24th and it's hitting both ways... crazy bro. Everything the first way was lows except the 41.8 days from 4/23, which was a bullseye high. The next day in the first iteration of the sequence is feb 17th next year... and the next date for the 2nd timing method is in like a week or so... I haven't heard of the equatorial circumference affecting swings at all. That sounds interesting af. I am wondering how the calculations are made. Gann uses the planets coordinates, moon, sun, I haven't gotten that part yet. Just getting familiar with astrology and natal charts. I'm really good with the angles already


Btc lined up nicely and I expect it to bounce on these levels on the way down too. The planets are catalysts though. The angles i draw tell me where the price will go, or can go, but the planets are the why and when.

The clock and calender that we use isn't sufficient in keeping time. I'm going to run btc through that moon sequence, amc, spy, vxx and a few other things, gold, usdx. How far have you gotten with your the equatorial circumference technique? Are you getting pivot points, buying targets or support/resistance with it yet?


That's the moon calendar cycle x the fibonacci square roots. I didn't come up with that. There's a lot of Indian cats that study gann. I learned it from one of them just now. I did make something like a clock on my own though. Every 9 degrees is about 4 hours on the daily chart and the price responds to it more than it doesn't. Sometimes price will blow right through the resistance line but 9, 18, 36, 54 are degrees price will rest on most times
Ok, I'm gonna need a moment to take that all in, you're way more advanced than I am lol. Like for instance I haven't really gotten in as deep as astrology and natal, but the dates/highs/lows you're referring to is all familiar with me. As far as the equatorial circumference, the person who put me on to Gann mentioned how if you divide it by a certain number it will tell you how many days a market will be up/down, but they didn't drop the exact number or formula to get said number. Only hinted at testing it with trading days in a year, days in a year, as well as the average of up/down days of a month. I've fiddled with it slightly but I haven't back tested it heavily yet just due to some other things I'm working on but wanted to ask you about it once I saw your post. Gonna put your moon cycles × Fibonacci sequence on my to do list as well.
Craziest thing to me is that dates/time cycles and utilizing them properly is perhaps the biggest game changer



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