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Jan 22 - Bitcoin drops 50% of its value



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 4 months ago '15        #1
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Top Goon  topics gone triple plat - Number 1 spot x206
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Jan 22 - Bitcoin drops 50% of its value
 

 
The world’s biggest digital a*set, Bitcoin, fell as low as $34,042.78 on Saturday, marking a drop of 7.2%. It has recovered most of those losses, and was trading at $35,445 at 14:19 GMT. Other cryptocurrencies saw declines as well, with Ethereum down 12%. Solana and Cardano each dropped at least 17%, according to Coinbase.

“Margin positions being liquidated caused a wave of additional sell pressure, as a*sets that had been held as collateral were forcibly sold to pay for margin loans,” Hayden Hughes, chief executive officer at Alpha Impact in Singapore, told Bloomberg.

The expert expects the cryptocurrency to take some time for a bottom to form and for confidence to return, before projecting any sort of bullishness.

Bitcoin’s downfall from its peak has erased some $600 billion from its market value, and more than $1 trillion has been reportedly lost from the aggregate crypto market. According to Bespoke Investment Group as quoted by the agency, this marks the second-largest-ever decline in dollar terms for both, while there have been much larger percentage drawdowns for both Bitcoin and the aggregate market.

The slump in both cryptocurrencies and stocks was caused by the latest move by the US Federal Reserve to tighten monetary policy at a faster pace than expected. In an effort to revive the economy, the Fed may increase key interest rates three times this year, according to Reuters polls.

The cryptocurrency market has also been rocked by China’s crackdown on virtual currencies, as well as Russian moves of a similar nature. Last year, Beijing prohibited cryptocurrency mining in the Sichuan Valley, triggering an adverse impact on the market.

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Top 10 most propped recently  4 months ago '17        #2
Lazy 
Props total: 33680 33 K  Slaps total: 4415 4 K
A lot of money to be made here

*Birdmanhandrubbing.gif-*
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Top 10 most slapped recently  4 months ago '15        #3
Lockwind 
Props total: 9923 9 K  Slaps total: 7331 7 K
Thanks Biden
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 4 months ago '10        #4
lltreyll 
Props total: 8243 8 K  Slaps total: 2266 2 K
+107   

 4 months ago '17        #5
justin747  topics gone triple plat - Number 1 spot x5
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sportsbook top 10


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 4 months ago '17        #6
justin747  topics gone triple plat - Number 1 spot x5
Props total: 192834 192 K  Slaps total: 29812 29 K
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Bitcoin should go up ~$1K - $1.5K in the next 24 hours.



Come back tomorrow to see if I'm right.

+32   

 4 months ago '10        #7
Shhon  topics gone triple plat - Number 1 spot x1
Props total: 51885 51 K  Slaps total: 4628 4 K
 justin747 said
Bitcoin should go up ~$1K - $1.5K in the next 24 hours.




Come back tomorrow to see if I'm right.


 4 months ago '20        #8
Mysticman  topics gone triple plat - Number 1 spot x28
Props total: 60742 60 K  Slaps total: 18933 18 K
 justin747 said
Bitcoin should go up ~$1K - $1.5K in the next 24 hours.




Come back tomorrow to see if I'm right.

You won't be like you usual are
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 4 months ago '17        #9
justin747  topics gone triple plat - Number 1 spot x5
Props total: 192834 192 K  Slaps total: 29812 29 K
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 Mysticman said
You won't be like you usual are
I'll gladly take the L if I'm wrong.

Here's the price on Coinbase when the transaction took place:





So tomorrow afternoon, price will probably be somewhere between $35,859 or $36,359
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 4 months ago '17        #10
Mario Chalmers  topics gone triple plat - Number 1 spot x7
Props total: 46946 46 K  Slaps total: 14291 14 K
It dropped 7%
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 4 months ago '10        #11
SmoothTay 
Props total: 97608 97 K  Slaps total: 12021 12 K
You n*ggas dont know crypto
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 4 months ago '14        #12
strungout  topics gone triple plat - Number 1 spot x7
Props total: 168081 168 K  Slaps total: 37210 37 K
It might be time to sell everything I can't tell ..
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 4 months ago '17        #13
justin747  topics gone triple plat - Number 1 spot x5
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 Mario Chalmers said
It dropped 7%







$500 away

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 4 months ago '12        #14
Steelgrip 
Props total: 33949 33 K  Slaps total: 2113 2 K
I got a whole ETH out of this dip. If my money wasn't tied up into the stock market I'd have gotten a whole BTC too.

+39   

 4 months ago '17        #15
justin747  topics gone triple plat - Number 1 spot x5
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 strungout said
It might be time to sell everything I can't tell ..
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 4 months ago '15        #16
Hellmatic 
Props total: 56687 56 K  Slaps total: 5079 5 K
 strungout said
It might be time to sell everything I can't tell ..
Don't get paperhands especially if youre selling for no profit
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 4 months ago '19        #17
MP2019  topics gone triple plat - Number 1 spot x1
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 lltreyll said
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 4 months ago '14        #18
consigliereA  topics gone triple plat - Number 1 spot x1
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 4 months ago '14        #19
consigliereA  topics gone triple plat - Number 1 spot x1
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BUY THE DIP..

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 4 months ago '09        #20
NLSP42  topics gone triple plat - Number 1 spot x6
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That's kinda a misleading headline

It dropped 50% of its all time high which was a while ago
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 4 months ago '07        #21
stogz 
Props total: 121026 121 K  Slaps total: 15366 15 K
The grift is strong
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 4 months ago '05        #22
pnoi89  topics gone triple plat - Number 1 spot x7
Props total: 31563 31 K  Slaps total: 3279 3 K
Nice. Going to throw some cash again at BTC for the next couple of weeks.
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 4 months ago '17        #23
justin747  topics gone triple plat - Number 1 spot x5
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 NLSP42 said
That's kinda a misleading headline

It dropped 50% of its all time high which was a while ago
A while ago? That was in November?




sh*t dropped ~50% in 3 months and yall still buying it

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 4 months ago '17        #24
justin747  topics gone triple plat - Number 1 spot x5
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 pnoi89 said
Nice. Going to throw some cash again at BTC for the next couple of weeks.
Fam aren't you an actual software developer/engineer? You're falling for this sh*t too?

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 4 months ago '05        #25
Sivraj 
Props total: 26413 26 K  Slaps total: 3008 3 K
I would love for this sh*t to drop to 1k but that is extremely wishful thinking
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