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TEXXR

Chronicles

The story behind the story

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Bitcoin dropped below $26,000 for the first time since December 2020, down 15% in 24 hours; Ether dropped as low as $1,720, its lowest level since July 2021

- The price of bitcoin plunged below $26,000 on Thursday, hitting its lowest level in 16 months.

CNBC Ryan Browne

Discussion

  • @binanceus @binanceus on x
    https://binance.us/ will perform scheduled maintenance for 17 networks and temporarily suspend deposits & withdrawals. Learn more: https://support.binance.us/... https://twitter.com/...
  • @_megconley Meg Conley on x
    I want to know how many moms listened to Reese Witherspoon, Gwyneth Paltrow et al and invested in crypto. I want to know how many of them just watched their money disappear. I want to know how empowered they feel being “part of the conversation” now. https://twitter.com/...
  • @twobitidiot @twobitidiot on x
    50% chance that $25,840 / $1,715 was this cycle's bottom, thought I'm still taking the under.
  • @lopp Jameson Lopp on x
    During mania phases dozens of friends and family come out of the woodwork to ask if they should buy bitcoin. This week, only one has asked. Contrarianism is hard!
  • @carnage4life @carnage4life on x
    As always I agree with Cobie's assessment. Memories are short and human greed is bottomless so eventually we will see a bull market return to crypto. However a lot of tokens, NFTs & DeFi protocols will go to zero before this is all over but $ETH & $BTC will make it & live again. …
  • @ashwsbreal @ashwsbreal on x
    When you bought the $BTC dip 320 times but it still keeps dipping https://twitter.com/...
  • @cobie @cobie on x
    Fwiw I think eth and btc will see new all time highs in the future. Dunno how long it will take but believe it will happen. Cannot say the same for any of the rest of this stuff though, think a lot of it can go down another -95%, valuations w locked stuff still insanely high.
  • @lionelralaurent Lionel Laurent on x
    You were smart, did your own research, diversified yr magic beans... 1 yr returns (in filthy debased $) Bitcoin: -52% Ethereum: -57% Ripple: -75% Dogecoin: -90% (But of course the *real* OGs are just buying the dip!)
  • @thekouk Stephen Koukoulas on x
    In the last few months, the price of Sydney houses is up 50% in bitcoin
  • @carnage4life @carnage4life on x
    As an example, median house prices in Seattle are up 2x ($425K vs $900K) from their peak before the crash of 2008. In under 15 years we went from $400K is unreasonably high for a house to $800K is a bargain for the same home. I can see $BTC & $ETH doing the same someday.
  • @flitteronfraud Emily Flitter on x
    .⁦@yaffebellany⁩ on Bitcoin: “Traders are increasingly treating the cryptocurrency like just another speculative tech investment.” https://www.nytimes.com/...
  • @saylor Michael Saylor⚡️ on x
    #Bitcoin is the best hedge against #Inflation. Since $MSTR announced its first BTC purchase August 11, 2020, bitcoin has appreciated 149%, outperforming Silver (-17%), Gold (-9%) Nasdaq (5%), S&P (18%), CPI (11.2%), M2 (19%), US Homes (28%), & PPI (33%).
  • @tedtalksmacro @tedtalksmacro on x
    #BTC is still trading like a highly volatile tech stock, despite the crypto-native drama of the past 24-48 hours. US CPI is due on Wednesday - a reading at or below consensus should support US equities and therefore ease the selling pressure on Bitcoin. https://twitter.com/...
  • @charlesarthur Charles Arthur on x
    Its “goal” of hedging against inflation? That was never the goal. One goal was to be a digital currency; the other was to make it impossible to expand its supply arbitrarily. Succeeded at the second, but not so far the first. https://twitter.com/...
  • @cointelegraph @cointelegraph on x
    This is cause for concern as the company's subsidiary MacroStrategy took out a $205 million loan from Silvergate Bank in March 2022, with a portion of their BTC used as collateral against the debt. MicroStrategy then used the proceeds to continue the firm's acquisition strategy.
  • @cointelegraph @cointelegraph on x
    Global markets have suffered major losses in early May and Microstrategy's stock has not been spared. MSTR has seen its value drop by 24% and the value of Bitcoin has also slumped considerably along with the wider cryptocurrency markets.
  • @fintechfrank Frank Chaparro on x
    MicroStrategy's bitcoin bet turns negative, triggering $330 million paper loss https://www.theblockcrypto.com/ ...