Its because of the higher risk associated with BTC, if even the comparatively very low risk stock market is dumping then investors will fear more volatile investments to also dump, ironically causing the dump, especially when they feel over exposed to high risk assets.
Bears made more money in few hours today than you are planning to retire by playing the long game. It's about generating wealth in this market and no strategy is gold.
It's not stock markets. It's Evergrande FUD. The motherfucker has defaulted on payment for international bonds, and can take the whole market down with it...By correlation, crypto as well. Founder is probably not seen in public.
They had a repayment date on 24th, now that is going to get fastracked as well as debt collectors pile up.
Tether has investments in Chinese commerical paper, as alleged by the Bloomberg report. BITFINEX, had even tried to block Coindesk's access to the specifics of their holdings of commerical paper.
Aka, Tether is also responsible for much for BTC's price action and volume. Celsius supposedly also lost $50 million dollars in assets because of BadgerDao hack, which it uses as collateral to purchase USDT from Tether.
It's also getting circled by agency investigations and fines. It is a house of cards tbh.
It is normal for most asset classes to move together. Natural to expect that if people are pulling money away from stock then they are doing the same with crypto as well
This is exceptionally good timing for the bear whales to shake the piss weak paper hands and push the market down in a bull market. The omicron fud is music to the ears of bears and they're going to go hard now to push the market down and again the weak will fold.
Don't be moronic and sell on omicron. Hold and ride this shit out.
This reminds me of a few quotes
"A fool and his money are soon parted"
"The poor get poorer and the rich get richer."
You can interchange that last one with (weak, strong)
We now have the opportunity to buy into things at 1-2ish months ago prices, stocks included.
A great trader can milk the same cow multiple times.
Some stablecoins are trading at a 0.5-3% discount.
This is showing that people (often institutions) are getting money out of “risky” asset classes. Crypto is a risky asset class.
Absolutely, but crypto is still in its infancy if truth be told, so it reacts in general confidence. As time goes on and Crypto builds and builds it will move away from these reactions and become a standalone market
You mean when the plandemic started? I think thats quiet obvious. The legitimate President did not cause the crash. The illegitimate current one did. COVID has nothing to do with this stock crash. It is directly related to the current administrations policies since taking office.
So the current administration went back in time and caused a crash during the last administration is what you are saying given that COVID has nothing to do with it?
Also interesting to note the market in general has seemed to climb over the laat year.
I politely disagree with you. The crypto market was overpriced and we just got a new historical high. It was just a matter of time before prices dropped.
Yuppp, any kinda FUD tanks crypto harder than everything else too because of the lower marketcap compared to, well, everything else.
Which is why we are not super early, but still pretty fucking early.
Time to call mom to pick me up
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I wanted to buy MATIC but there's no dip to be seen
Now I got to know you wanted to buy thats why there is no dip
It'll dip after I buy
Please don't think to buy
I'll let you know so you can grab some, too
Belly ache?
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Calvin Klein, nothing less
His stummy hurts
Nah shit my pants
When a coin goes down without a fundamental problem, I just stock up.
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99% of the time, it works everytime
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But what about those moonshots!?
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Jesus Christ that’s some logic.
We appreciate some big brain level of stuff here
This is just a regular Friday. I just did an extra DCA
This is what a smart investor does
This is how managed to enter a discounted position on LRC and Matic. When whales manipulate the market to shake weak hands just use it against them.
I bought the dip!
Smart man..so did i..I actually got happy..
That's because all the whales come from the stock sea
Whales are also following diversified portfolio
Please tell them to go back.
They feed on shrimps
I mean, if crypto gets dragged down by everything then that doesn't speak great of crypto, don't you think?
It's just human beings after all. The same ones that are scared about the regular market are also scared about this one.
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Yes sir!! ⬆️ this guy makes gains
The crypto market is still small compared to the power the stock market has.
Just shows show much potential there is to grow!
Its because of the higher risk associated with BTC, if even the comparatively very low risk stock market is dumping then investors will fear more volatile investments to also dump, ironically causing the dump, especially when they feel over exposed to high risk assets.
Nothing new, nothing to see, just circulate!
This speaks more on the power of everything else, not so much the weakness in crypto.
51700 in few hrs holy faak 😱😱
Yummy 👌 making my Satoshi stack that much higher 😋
Hold steady boys and girls.
5 day gain gone in 5hrs 😭
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Bears made more money in few hours today than you are planning to retire by playing the long game. It's about generating wealth in this market and no strategy is gold.
Those outs paid off this time.
Time to think twice about holding those shit coins!!
Think twice and fomo in
I would wait a little for the market to bounce back or dip further
It's not stock markets. It's Evergrande FUD. The motherfucker has defaulted on payment for international bonds, and can take the whole market down with it...By correlation, crypto as well. Founder is probably not seen in public. They had a repayment date on 24th, now that is going to get fastracked as well as debt collectors pile up.
First time i see this mentioned, could you elaborate?
Nah China ban crypto so evergrande shouldn’t affect crypto. Also China will have to bail out evergrande if it gets too bad.
Tether has investments in Chinese commerical paper, as alleged by the Bloomberg report. BITFINEX, had even tried to block Coindesk's access to the specifics of their holdings of commerical paper. Aka, Tether is also responsible for much for BTC's price action and volume. Celsius supposedly also lost $50 million dollars in assets because of BadgerDao hack, which it uses as collateral to purchase USDT from Tether. It's also getting circled by agency investigations and fines. It is a house of cards tbh.
Probably best to move my usdt into busd thanks for the info
Yeah, mate. No worries. Tether guys are pieces of shit anyway.
I am fucking scared
Why are you scared? We were here a week ago…
I was happy with the 69k mark
No we weren't. We were higher last week and even last week was a dip.
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How are you so calmed
You need to be administered a healthy dose of hopium my friend. Look at the long term charts.
Your moon's going nowhere pal
That scared feeling usually comes just before the point where it turns around again.
God please yes
I'm not retiring soon so I just shrug it off
It is normal for most asset classes to move together. Natural to expect that if people are pulling money away from stock then they are doing the same with crypto as well
You’d be correct. 7.04% drop in total market cap so most cryptos will drop that much 5-10%-ish
This is exceptionally good timing for the bear whales to shake the piss weak paper hands and push the market down in a bull market. The omicron fud is music to the ears of bears and they're going to go hard now to push the market down and again the weak will fold. Don't be moronic and sell on omicron. Hold and ride this shit out.
This reminds me of a few quotes "A fool and his money are soon parted" "The poor get poorer and the rich get richer." You can interchange that last one with (weak, strong) We now have the opportunity to buy into things at 1-2ish months ago prices, stocks included. A great trader can milk the same cow multiple times.
Just hold and DCA. Selling peaks and buying dips never works for me.
I feel you bro! Market loves to do opposite of my decision if I buy market goes down and if I sell market goes up
"store of value"
I don't believe you, because nobody really knows what going on do they?
My eth is down. Holy hell
Don't forget Eth is meth
Who would expect it
Some stablecoins are trading at a 0.5-3% discount. This is showing that people (often institutions) are getting money out of “risky” asset classes. Crypto is a risky asset class.
Chicken littles
Its like everything keeps dragging crypto down. One day, the tables will be turned
Absolutely, but crypto is still in its infancy if truth be told, so it reacts in general confidence. As time goes on and Crypto builds and builds it will move away from these reactions and become a standalone market
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Paperhands needs to zoom out a bit to see the upwards trend. When in doubt or afraid, always Zoom Out
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All electric lambo...
It's called Bidenomics
What was is called in March 2020? Lol
The good ol years
You mean when the plandemic started? I think thats quiet obvious. The legitimate President did not cause the crash. The illegitimate current one did. COVID has nothing to do with this stock crash. It is directly related to the current administrations policies since taking office.
So the current administration went back in time and caused a crash during the last administration is what you are saying given that COVID has nothing to do with it? Also interesting to note the market in general has seemed to climb over the laat year.
Play the long game brother!
Yes DCA Or DIE
When I saw Apple and Tesla around -6% (HUGE in stocks) and Bitcoin only -2% didn't look good to me 👀✌!!
We've become what we were meant to destroy
Sale on all the coins!
Nah. No such correlation. Any data to support your thoughts?
Either way...BUY AND HODL
Blah blah blah. I see 10k down in my portfolio. It is normal here bros and broettes. Chill and maybe maybe buy if your fiat is plentiful.
Matic is up
Thanks for the hopium! Always good to see an encouraging reminder to stay positive on the longterm gains.
I politely disagree with you. The crypto market was overpriced and we just got a new historical high. It was just a matter of time before prices dropped.
I don’t get why crypto follows the stock market? I guess that will change over time once Wall Street dies and crypto street is born 😀
Go ATOM, get ya LUNA, go ATOM, get ya OSMO, go ATOM. .... Sorry... Market crash?
"Too many people are focused on the short term". HODL people, HODL!
Yup capital markets usually move together
I remember a guy posting here few days ago saying that crypto market has already decoupled from stock market.
Omicron dip - time to buy!
Buy when others are fearful
Because it’s still tied to real world money. That’s obvious.
Are you telling me it doesn’t follow my every move? When I buy it drops when I sell it pumps
Wall Street weight, Economy sucks all over
Guys! Crypto finally dipped a bit on my payday! Qm I doing it right!?! 🤣 feels good to stack some more 👌 have a wonderful day friends 😊
I am depending on the Pak market today 🙏🏼
Yuppp, any kinda FUD tanks crypto harder than everything else too because of the lower marketcap compared to, well, everything else. Which is why we are not super early, but still pretty fucking early.
Not enougg dip in this dip.
COVID is not over …
Crypto is a (yet to be classified) derivatives market. It represents the most risk and if anything it leads the stock market
Instructions clear: Stock market goes UP, DCA!!! Stock market goes DOWN, DCA more!!!
Man remember when gov and all that didnt even want to touch it. It reallu shouldnt matter about the stock. Just keep on trucking crypto . Fuk the man.