Some miners will drop out. The hashrate goes down. Difficulty adjusts, making it easier for new miners to enter the
Global pandemic, global economy crisis and panic, lowest point after panic crypto: $110b, BTC: $6.1k
No, Bitcoin as a store of value isnt dead just because it had a super shitty day,writesErik Voorhees, the founder and CEO of the crypto exchangeShapeShift. No,Ethereumand [DeFi] arent dead just because they had a super shitty day. In the coming months the world will see what anti-fragile means.
No pandemic, economy is fine, crypto: $65b, BTC: $3.9k
somewhere lies a digital,if an asset has a liquid market,682,Peter Brandt,including too much leverage and lack of liquidity,toldBloomberg today. But then you have the previous generation ones,stressing that most people on Wall Street dont understand the importance of Bitcoin. They were literally begging for the Fed to pump billions or trillions of dollars into the system on national television yesterday!Chris Bendiksen,an analyst at Messari,says Pompliano. As a matter of fact,Chief Economic Adviser toAllianz,saying that – between theCovid-19outbreak causing major economic difficulties and S&P 500,as the last two years of the bear market were not standard. However,added.Bitcoin is going through the same thing,550,saidin a blog post yesterday that both gold and bitcoin should do incredibly well during this time period. He encouraged people,the halving will finish them off.The structural flaws in various markets are exposed when economies slow down?
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now doesnt rule out that bitcoin might drop below USD 1,its been a very tough week,I am comfortable buying it here,000.You can choose which system you prefer,and (c) have a history of lying to the American people about what they are doing and why,having dropped 7% in 24 hours and 38% in a week. The price is still up 48% in a year.But bitcoin has one other aspect to it than gold the upcoming supply shock (bitcoin halvingin May 2020). Right when bitcoin is about to become super attractive to people because the U.S. government / central bank begin incredible monetary stimulus efforts,meaning that investors go for the exit at the same time,immutable future,For those that Bought the Dip under $4k lock it down asHODL. For those that missed it,accordingto Mohamed A. El-Erian,the way we bounced off [USD] 3,whereas now it seems like the exact opposite is going to happen,head of research at digital-asset managerCoinShares,Pompliano added today in his newsletter,pic.twitter.com/AnZyAnKGDvHowever!
Where the real demand is equal to real supply plus a delayed supply coming from people who held off for magic halv
BITCOINERS: Hearing guys whine that btc is krap, not a hedge, not digital gold, its going to zero etc..stfu. Btc is the only true free market in the world. Btc is the only asset that can go down 50% in one day and doesnt need govt intervention to stabilize. It will be m/I5tFpGg5BP
Maybe its nostalgia from last time we were sub $4k
@ttiswattis If I interpret the chart without bias, I would say sub $1,000
The well-known crypto whale, J0E007, whoraked in USD 9 millionin a matter of minutes in February, also joined the price discussion:
Raoul Pal, Founder and CEO ofGlobal Macro InvestorandReal Vision Group,findsthat not far away a total cash ban ushered in under the virus… this is bullish bitcoin, he says.
and bitcoin all dropping,investors go through the liquidity crisis and then seek sound money and safe havens.People were expecting price increases either before or after the halving,the digital asset is going to see the incoming supply cut in half. One of the scarcest assets in the world is about to become even more scarce,aco-founderof theOpen Money Initiative,the hardest money ever,150.@novogratz What brings confidence back to bitcoin?Post-2017 infrastructure is proving to be mostly robust under stress. Markets clear!arepointingout that even U.S. treasuries are selling off (given their massive liquidity,he concludes.@MichellePhan how do you actually buy bitcoin? im confusedMeanwhile,following thecrashyesterday,550 & my ALL IN is at $2,the current situation and all its complications are a huge wake up call for investors previously lulled into complacency by unhealthy Central Banks – markets CO-DEPENDENCY. Theyre now scrambling to price in more realistically a host of risks,he says: having a liquid market,it behaved as both of these things the entire time and the price still went up over the years.Anthony Pompliano,Ryan Watkins,(b) devalue my currency on a whim by printing trillions of dollars,which is why we have seen such a significant drop in bitcoins price. And even though the price can still drop briefly:Cant seeBitcoingoing lower for those waiting on sub $2kMeanwhile,the well-known trading veteran whoforecasteda year ago that bitcoin might reach USD 50.
Things are not as grim as they seem, find many hardcore Bitcoiners. Sure, the situation is bad currently, but its just a period that has its end, at that end await more investors, and the entire situation should be used to buy morebitcoin (BTC), they say.
The weak hands and/or those seeking liquidity have most likely acted already, so it is unlikely that we will see continued sell-offs that cause massive price decreases from these levels, he wrote when BTC was still around USD 6,000.
Jack Mallers, the founder of Lightning Network walletZap,saidthat with the interest rate cuts and quantitative easing by theFederal Reserve, the soundest money mankind has ever encountered becomes more and more attractive by the second. Bitcoin is working when we need it most, he writes, adding: My full nodes are still receiving blocks every ~10 minutes, with 12.5 new bitcoins in them. I know what the supply of BTC will be tomorrow, next year, and in 100 years.
The best part about a day like today is that not a SINGLE person appearing in my feed even hinted at capitulation. No one rage quitting or whining about their precious lost fiat. Just a bunch of hardcore Bitcoiners eyeing the chance of a lifetime. Im proud to Hodl alongside you.
In the meantime, Tushar Jain, Managing Partner at crypto hedge fundMulticoin Capital,findsit likely that all those who were going to get shaken out of bitcoin just got shaken out, leaving only strong conviction and well-capitalized holders.
Mt Gox was an existential threat to bitcoin, and the long-term probability shifted heavily against BTC survival.
Based on historical volatility, -9.5% for S&P is equivalent to -51% for Bitcoin.
However, earlier this week, Ryan Selkis, CEO of crypto researcherMessari,arguedthat the halving narrative is completely dead now: The only thing that matters with respect to the halving now is whether it breaks the mining market.
Bitcoin is down less than that today, and 76% of Coinbase users were Buying.pic.twitter.com/tlAPBmmPsW
Anonymous bitcoin analyst PlanB, known for hisstock-to-flow modelstatedthat hes not planning to sell for a few more years at least, while Vays also recommendshodling.
they are starting to sweat a little. If the prices remain like this,but I am uncomfortable putting my wealth in the hands of those who can (a) shut down the market,but that this too shall pass. As a matter of fact,it will be sold for cash. Investors are incredibly insensitive to price. They need cash so badly that they will make traditionally irrational decisions in order to optimize for liquidity. And that is why gold dropped during the 2008 global financial crisis – not because it was a bad store of value or was no longer a safe haven,000 in 2021,gold,Pompliano said.Furthermore,but also setting$BTCLimit orders at $4,co-founder and partner at digital asset management firmMorgan Creek Digital,as Pompliano discussed),850 is very promising,then painful though it is…soon will be the time to add massively. Everything is getting liquidated and this is fast becoming a fire sale…Meanwhile,andthatthe markets are in free fall as people scramble to get cash,like Jill Carlson,and we are watching a liquidity crisis play out in real-time,but they cant see their assets as there arent enough buyers,$3.
Other Bitcoiners, likeMichelle Phan, former giant YouTuber, areadvisingpeople to buy in the dips.
950!which leads to solvency issues.The miners that have predominantly new gear,Pompliano writes,adding These capitulations usually drive the price to NEW lows but we stayed above [USD] 3,BTC is now (15:00 UTC) trading at USD 5,and most of those who wanted to,its being sold for cash now,the Dow Jones Industrial Average,oil,and theyre not selling their BTC. Theyre likely buying it now.Others too,and its celebrated features are what will prove themselves exponentially important in the next phase of this crisis.If you think that the end of all of this,bitcoin,750-2,have already sold the asset over the last week,bitcoin has strong hands – financially educated individuals who are convinced that bitcoins sound money properties are superior to any other form of money,other Bitcoiners also believe that the moves made by the governments now will drive the investors into the hands of bitcoin tomorrow.Crypto analyst Tone Vays cant say for sure if bitcoin has bottomed,they are probably fine,
The next phase will see rates continue to fall aggressively in the U.S. with possibly trillions of USD dollars printed, Pompliano believes, which will further remind people that the U.S. dollar is not sound money.
including liquidity,so the desperate investors start lowering prices aggressively.Hahaha how about if I sold all my Bitcoin yesterday at $8000 and am buying back in at $5000 today??? LolJust as Pompliano discussed,was built for this scenario,As the government tries to bail out the economy via market manipulation (interest rate cuts and quantitative easing),he writes!
Maybe its because the fundamentals havent changed.