Bitcoin fell to under $18K on Saturday, below its $19,511 high during its 2017 bull cycle, as ether dropped below $1K; both are down 70%+ since November 2021
what this means Robert Reich / The Guardian : The Crypto Crash: all Ponzi schemes topple eventually Hudson Lockett / Financial Times : Celsius warns it will ‘take time’ to stabilise as bitcoin hovers near $20,000 Crispus Nyaga / CoinJournal : Bitcoin price prediction: BTC forms a dead cat bounce Ali Raza / Inside Bitcoins : El Salvador's president urges Bitcoiners to be patient Florence Muchai / Cryptopolitan : Crypto liquidations exceed $300M in a day, causing DeFi panic extremes Decryptor0 Newsletter : El Salvador's president is using Bitcoin as a hedge against bear market worries. Arianne Gift / Micky : Bitcoin recovers by 15%, bounces back above $20,000 Yash Garg / The Daily Moon : Explained: This crypto winter is different Joanna Ossinger / Bloomberg : Bitcoin's Struggle to Hold $20,000 Keeps Crypto Market on Edge Tina Bellon / Reuters : Bitcoin recovers, climbs 7.6% to pass $20,400 Sander Lutz / Decrypt : Bitcoin Bounces Back Above $20,000, Ethereum Exceeds $1,000 Mark DeCambre / MarketWatch : Bitcoin skids under $20,000 in Minsky Moment for crypto: ‘Psychologically for a lot of people, this is galling’ The Daily Hodl : Crypto Hedge Fund Three Arrows Capital Mulls Rescue From Outside Firms Amid Staggering Losses: Report Mashable : Bitcoin continues to plummet, dropping below $20K Sara Celi / The Crypto Connection : Uncharted and Unknown — It finally happened. — This weekend, Bitcoin broke a trend it has never done in its history. John P. Njui / Ethereum World News : Bitcoin Under $20k Feels Irrational, Says Gemini Co-Founder Cameron WinklevossNicole Goodkind / CNN : Bitcoin drops below $20,000 as crypto meltdown continues Tweets: Nayib Bukele / @nayibbukele : I see that some people are worried or anxious about the #Bitcoin market price. My advice: stop looking at the graph and enjoy life. If you invested in #BTC your investment is safe and its value will immensely grow after the bear market. Patience is the key. Cameron Winklevoss / @cameron : Ok, bitcoin under 20k feels like an over-rotation. The underlying fundamentals, adoption, and infrastructure have never been stronger. We saw the irrational top. This feels irrational in the other direction. Eric Wall / @ercwl : How do we as an industry—apart from staying clear from undercollateralized algostables—best ensure that a 3AC moment does not happen again? @pjacaytonphd : What gives value to Bitcoin? Speculation? Fk that. Real currencies can be pegged to the economic viability of issuing countries. USD to US activities, Russian Rubles to Russia, and the Yuan Renminbi to the PRC. Cryptocurrencies? To what? https://twitter.com/... Michael Saylor⚡️ / @saylor : If you don't stand for something, you will fall for anything. #Bitcoin Brianna Wu / @briannawu : Bitcoin plummeted to $18,739. In November it was worth $67,802. I think there are a lot of people like me who were curious about Bitcoin and bought some, but came to the conclusion it's a scam. They're cashing out for good. https://www.wsj.com/... Norman Levine / @levinepmc : This era's Tulip Bulbs. A scam that lots of people with no investment knowledge were drawn into due to hype and FOMO. Sad. https://www.wsj.com/... Robert Wiblin / @robertwiblin : Counterpoint: currencies are priced on a smooth continuum and there are no such ‘thresholds’. https://www.ft.com/... https://twitter.com/... @jason : I would be very interested to see what crypto tokens @a16z bought and when, if at all, they sold them. @cdixon is this kind of information public or aggregated anywhere? should it be? Sasha Ivanov / @sasha35625 : I guess it's time to buy! https://twitter.com/... @alfonslopeztena : Crypto Crash: all Ponzi schemes topple eventually — There are no standards for risk management or capital reserves. There are no transparency requirements. Investors often don't know how their money is being handled. Deposits are not insured By @RBReich https://www.theguardian.com/ ... Ben McKenzie / @ben_mckenzie : Exactly this. Thank you @RBReich for speaking out on this https://www.theguardian.com/ ... Eric Lawrence / @ericlaw : Cameron is so close to learning what “Fundamentals” means. https://twitter.com/... @sbf_ftx : biggest things here aren't making sure no one ever goes under—it's making sure: 1) it's not to unsuspecting retail 2) risks properly disclosed 3) no contagion this basically means — it's one thing to have insto <> insto credit, but another to have deceptive credit vs retail https://twitter.com/... Brian L. Frye / @brianlfrye : You are always betting on whether people will want to own this piece of nothing more in the future than they do today. And that's ok. https://twitter.com/... Mike Olson / @mikeolson : “Fundamentals” and “feels like.” https://twitter.com/... Ian Betteridge / @ianbetteridge : “People have forgotten what unregulated markets are like. They assume a century of pretty good securities regulation, and the orderly markets and general prosperity that flowed from that, are normal — because it's all they've ever known.” https://davidgerard.co.uk/... Sean Harris / @bigseanharris : Irrational top? It hit it twice. That's not irrational. https://twitter.com/... Daniel Lacalle / @dlacalle_ia : “What we're seeing is more liquidations driving prices and sentiment lower, which triggers more liquidations and negative sentiment — some flushing-out needed still, but this will at some stage exhaust itself” @NoelleInMadrid in @business via Bloomberg https://www.bloomberg.com/... https://twitter.com/... Shawn Donnan / @sdonnan : Just watched that Larry David ad on national TV urging people not to miss out on the next big thing... https://twitter.com/... @bqprime : #Bitcoin tumbled as much as 15% to $17,599 on Saturday, recovering some of those losses earlier today. #Ether fell as much as 19% to $881, before climbing 11% to $1,005. https://www.bqprime.com/... @fintechintern : @twobitidiot ... - Editor-at-Large @TheBlock__ - 3AC pitched their GBTC trade “to everybody” - 3AC offered multiple projects “treasury management” - Clear 3AC recently tried to get as much capital as possible into their various subsidiaries GBTC Scoop: https://www.theblock.co/... Katie Notopoulos / @katienotopoulos : There is a beautiful “irrational bottom” joke here for someone who is absolutely not me to make, I beg you please someone do it https://twitter.com/... @business : Total liquidations in the crypto market were $566.7 million in the past 24 hours https://www.bloomberg.com/... @twobitidiot : Bitcoin will be fine. Smart contracts will be fine. DEX will be fine. NFTs will be fine. DAOs will be fine. Lenders, shitty funds, charlatans, scammers, they're all going to die. Then we can get back to work and start the next cycle off a higher low. @bigtechalert : 👀 @brian_armstrong (CEO of @Coinbase) is no longer following @levie Edward Ongweso Jr / @bigblackjacobin : yeah fundamentals like *squints* stablecoins incentivizing adoption by offering high yield interest accounts paid for with speculative bets & gambles in other parts of the ecosystem or *squints again* the largest stablecoin lying for years about reserves pegging it to the dollar https://twitter.com/... Stephen Diehl / @smdiehl : Crypto has no fundamentals, it has no income, and it generates nothing. It's a pure manifestation of the theory of the greater fool. https://twitter.com/... @mrinaldesai : Sore of value? https://twitter.com/... @pr0blematicswag : The whole point of crypto was supposed to be that it was free from regulation. Instead, Cryptobros who gambled everything on a volatile asset based entirely on speculation and harassed anyone that warned them about said volatility lost everything, for which I have zero sympathy. https://twitter.com/... Tom Gara / @tomgara : Counter-cyclical take: the question about how useful cryptocurrencies or blockchain tech will turn out to be wasn't answered when crypto prices were sky high and it doesn't get answered when crypto prices crash either Grady Booch / @grady_booch : IMHO, Cameron, anything over $0 feel irrational. https://twitter.com/... Kyle Russell / @kylebrussell : Worsening as the day goes on https://twitter.com/... Cengiz / @cengizyar : The crypto crash is playing out differently in Latin America, where entrepreneurs and enthusiasts are accustomed to financial volatility. @leomschwartz @luciacholakian & @andreapaolahg_ explain for @restofworld. https://restofworld.org/... https://twitter.com/... @chhopsky : the “The Plan Was To Leave Someone Else Holding The Bag” crowd realizing they got left holding the bag https://twitter.com/... Charles Arthur / @charlesarthur : “What have you done to my reactor?” https://twitter.com/... Aaron Levie / @levie : The reason why it's important to look at web3 flaws in a down market is because the flaws don't seem as believable in an up market. In an upmarket if you buy a token and tell a friend to join a network, everyone's happy. In a down market, it's very hard for the network to spread. Tom Gara / @tomgara : One way to think about bitcoin is it's an Uber-esque mega unicorn startup that IPO'd in like 2017, everyone who was in before then are the early employees who made out like absolute bandits from their stock options, everyone since then are basically retail investors https://twitter.com/... @noahpinion : If you bought Bitcoin on December 15th, 2017, you are now in the red. Charles Arthur / @charlesarthur : Bitcoin enthusiasts seeing its price bumping down towards $18.5k, having dropped below $20k today. https://twitter.com/... @asilbwrites : my money don't jiggle jiggle, it drops below 20k https://twitter.com/... Simon Willison / @simonw : “These guys are just not very bright. But in a bubble, everyone looks like a genius.” https://twitter.com/... Aaron Levie / @levie : It's like mitosis for made up things https://twitter.com/... Henry Blodget / @hblodget : Bitcoin decline unusually smooth and steady. Seems like big sellers trying to reduce leverage/exposure gradually, so as not to completely crush the price. Of course, there are buyers on the other side of all those trades... https://markets.businessinsider.com/ ... https://twitter.com/... Joe Weisenthal / @thestalwart : Bitcoin has fallen below its 2017 peak. First time in its history, its fallen beneath the peak of a previous halving cycle. Not that there's been any doubt, but the halving concept has been unambiguously debunked. No need to debate it anymore. https://www.bloomberg.com/... https://twitter.com/... Kyle Russell / @kylebrussell : Ethereum back to trading in the triple digits Peter Schiff / @peterschiff : Now that #Bitcoin has collapsed below $20K and #Ethereum below $1K, at least one person on @CNBC should apologize to their viewers for all the one-sided coverage and bad investment advice. As Bitcoin plunged 73% and Ethereum 83%, CNBC pumped #crypto non-stop the entire way down. @allnick : ETH < $1000 Think I'll sleep in thank you! @chhopsky : absolutely incredible seeing the people who blew up their lives and credibility to leave tech or games for crypto now starting to scrub it from the internet, leaving a wasteland of deleted tweets and resume gaps on linkedin @poorlyagedstuff : cryptocurrency @crypto_birb : Shoutout to every person, trader, project, and firm who are not giving up on crypto. Many will likely find themselves in revulsion, and complete resignation in the next weeks. However, the patient investors or contrarians may consider these prices once-in-a-lifetime gift #Bitcoin https://twitter.com/... @wifeyalpha : I have no remorse for Saylor! He gave advice to people that have little to no financial markets / finance experience and told them to sell their family home and/or business to buy bitcoin at the top of the bull market. This is account could not be more the inverse. Family first. @ashwsbreal : Don't worry guys only 750 days left for next bitcoin halving. We will pump hard 🚀 @btc_archive : #Bitcoin just dropped below the previous cycle high for the first time ever! @bbtc : #Bitcoin Price: $19,500 📉 https://twitter.com/... @bitcoinmagazine : #Bitcoin has been declared dead over 400 times https://twitter.com/... @spectatorindex : Bitcoin price 18th November, 2021: $60,400 Now: $19,200 @gainzxbt : very cool finding out crypto is a casino where institutions are levered to the tits 👍 Alex Wice / @awice : mental math with $btc will be a lot easier when its 10k @chubbicorn219 : $0 $0 @cobie : Things got really bad after Vitalik made airplane sounds on our podcast Grady Booch / @grady_booch : Burn it to the ground and fling its ashes into the center of the sun. https://twitter.com/... Tom Mackenzie / @tommackenzietv : Bitcoin Falls Below $20,000 for the First Time Since 2020 - bitcoin has fallen for 12-straight days - total crypto market cap now around $880B vs $3 trillion in Nov https://www.bloomberg.com/... #btc Kevin Beaumont / @gossithedog : https://twitter.com/... @alexhern : Is that good https://twitter.com/... Charles Arthur / @charlesarthur : Uh-oh. That is the tide going RIGHT out. I had the feeling that $20k was a sort of resistance price for Bitcoin - that there were lots of automated orders to buy if it hit that price, supporting it. If those are used up, we enter new (margin call) territory. https://twitter.com/... Liron Shapira / @liron : Boom goes the dynamite https://twitter.com/...
Ok, bitcoin under 20k feels like an over-rotation. The underlying fundamentals, adoption, and infrastructure have never been stronger. We saw the irrational top. This feels irrational in the other direction.
I see that some people are worried or anxious about the #Bitcoin market price. My advice: stop looking at the graph and enjoy life. If you invested in #BTC your investment is safe and its value will immensely grow after the bear market. Patience is the key.
#Bitcoin, are you okay? So, Bitcoin, are you okay? Are you okay, Bitcoin? You've been hit by- You've been struck by- The Central Banker https://twitter.com/...
I would be very interested to see what crypto tokens @a16z bought and when, if at all, they sold them. @cdixon is this kind of information public or aggregated anywhere? should it be?
What gives value to Bitcoin? Speculation? Fk that. Real currencies can be pegged to the economic viability of issuing countries. USD to US activities, Russian Rubles to Russia, and the Yuan Renminbi to the PRC. Cryptocurrencies? To what? https://twitter.com/...
Bitcoin plummeted to $18,739. In November it was worth $67,802. I think there are a lot of people like me who were curious about Bitcoin and bought some, but came to the conclusion it's a scam. They're cashing out for good. https://www.wsj.com/...
Crypto Crash: all Ponzi schemes topple eventually — There are no standards for risk management or capital reserves. There are no transparency requirements. Investors often don't know how their money is being handled. Deposits are not insured By @RBReich https://www.theguardian.co…
biggest things here aren't making sure no one ever goes under—it's making sure: 1) it's not to unsuspecting retail 2) risks properly disclosed 3) no contagion this basically means — it's one thing to have insto <> insto credit, but another to have deceptive credit vs retail https…
You are always betting on whether people will want to own this piece of nothing more in the future than they do today. And that's ok. https://twitter.com/...
“People have forgotten what unregulated markets are like. They assume a century of pretty good securities regulation, and the orderly markets and general prosperity that flowed from that, are normal — because it's all they've ever known.” https://davidgerard.co.uk/...
“What we're seeing is more liquidations driving prices and sentiment lower, which triggers more liquidations and negative sentiment — some flushing-out needed still, but this will at some stage exhaust itself” @NoelleInMadrid in @business via Bloomberg https://www.bloomberg.com/.…
#Bitcoin tumbled as much as 15% to $17,599 on Saturday, recovering some of those losses earlier today. #Ether fell as much as 19% to $881, before climbing 11% to $1,005. https://www.bqprime.com/...
@twobitidiot ... - Editor-at-Large @TheBlock__ - 3AC pitched their GBTC trade “to everybody” - 3AC offered multiple projects “treasury management” - Clear 3AC recently tried to get as much capital as possible into their various subsidiaries GBTC Scoop: https://www.theblock.co/...
There is a beautiful “irrational bottom” joke here for someone who is absolutely not me to make, I beg you please someone do it https://twitter.com/...
“Bitcoin's price sits at the lower bound of its production cost for the first time since the March 2020 liquidity crisis as well. The idea here is that Bitcoin should at minimum be worth the cost of energy to produce it.” - @WClementeIII https://twitter.com/...
And there it is: dark blue (70% below ATH)! Most indicators (S2F, RSI,200WMA, Realized etc) are at extreme levels. Does that mean that all indicators are “invalidated” “debunked”? No. Investing is a game of probabilities and indicators give situational awareness: BTC is oversold.…
Bitcoin will be fine. Smart contracts will be fine. DEX will be fine. NFTs will be fine. DAOs will be fine. Lenders, shitty funds, charlatans, scammers, they're all going to die. Then we can get back to work and start the next cycle off a higher low.
yeah fundamentals like *squints* stablecoins incentivizing adoption by offering high yield interest accounts paid for with speculative bets & gambles in other parts of the ecosystem or *squints again* the largest stablecoin lying for years about reserves pegging it to the dollar …
Crypto has no fundamentals, it has no income, and it generates nothing. It's a pure manifestation of the theory of the greater fool. https://twitter.com/...
The whole point of crypto was supposed to be that it was free from regulation. Instead, Cryptobros who gambled everything on a volatile asset based entirely on speculation and harassed anyone that warned them about said volatility lost everything, for which I have zero sympathy. …
Counter-cyclical take: the question about how useful cryptocurrencies or blockchain tech will turn out to be wasn't answered when crypto prices were sky high and it doesn't get answered when crypto prices crash either
The reason why it's important to look at web3 flaws in a down market is because the flaws don't seem as believable in an up market. In an upmarket if you buy a token and tell a friend to join a network, everyone's happy. In a down market, it's very hard for the network to spread.
One way to think about bitcoin is it's an Uber-esque mega unicorn startup that IPO'd in like 2017, everyone who was in before then are the early employees who made out like absolute bandits from their stock options, everyone since then are basically retail investors https://twitt…
Bitcoin has fallen below its 2017 peak. First time in its history, its fallen beneath the peak of a previous halving cycle. Not that there's been any doubt, but the halving concept has been unambiguously debunked. No need to debate it anymore. https://www.bloomberg.com/... https:…
Bitcoin decline unusually smooth and steady. Seems like big sellers trying to reduce leverage/exposure gradually, so as not to completely crush the price. Of course, there are buyers on the other side of all those trades... https://markets.businessinsider.com/ ... https://twitter…
Now that #Bitcoin has collapsed below $20K and #Ethereum below $1K, at least one person on @CNBC should apologize to their viewers for all the one-sided coverage and bad investment advice. As Bitcoin plunged 73% and Ethereum 83%, CNBC pumped #crypto non-stop the entire way down.
absolutely incredible seeing the people who blew up their lives and credibility to leave tech or games for crypto now starting to scrub it from the internet, leaving a wasteland of deleted tweets and resume gaps on linkedin
Shoutout to every person, trader, project, and firm who are not giving up on crypto. Many will likely find themselves in revulsion, and complete resignation in the next weeks. However, the patient investors or contrarians may consider these prices once-in-a-lifetime gift #Bitcoin…
I have no remorse for Saylor! He gave advice to people that have little to no financial markets / finance experience and told them to sell their family home and/or business to buy bitcoin at the top of the bull market. This is account could not be more the inverse. Family first.
Bitcoin Falls Below $20,000 for the First Time Since 2020 - bitcoin has fallen for 12-straight days - total crypto market cap now around $880B vs $3 trillion in Nov https://www.bloomberg.com/... #btc
At least we all learned valuable marketable skills taught by crypto trading in the 2020-2021 era that should easily transfer to other jobs like shitposting, combing chat groups, waiting in virtual lines to buy pictures, & giving lots of money to sketchy websites to win lottos.
Waking up to 3 digits $ETH and $BTC at $18K. The worst part about this is how many people will leave the space now, and never come back. “I knew crypto always was a scam”.
In the last hour, Bitcoin fell to a minimum of $19,200, Ethereum fell below $1,000, and the total market value fell below $900 billion. The Nasdaq is down 5% in the latest month, but Bitcoin is down 34%. The liquidity crisis caused by the lending institutions has caused panic.
Uh-oh. That is the tide going RIGHT out. I had the feeling that $20k was a sort of resistance price for Bitcoin - that there were lots of automated orders to buy if it hit that price, supporting it. If those are used up, we enter new (margin call) territory. https://twitter.com/.…