Bitcoins/Litecoins/Virtual Currencies

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Haus

Haus

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Jysin said:
Well, Bitcoin just shit the bed again (18.4k) after the bounce on the Binance / FTX news. Took equities down with it.
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I find it entertaining that you might think it's ONLY BTC shitting it's bed. ;) I'm suddenly glad I have been sitting on a pile of uninvested cash and too lazy to have put it anywhere yet.
 
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Jysin

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Binance out of the FTX deal.

Bitcoin new lows (16.3k as of writing)
 
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Jysin

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15:54 (US) SEC's Gensler: SEC will have a key role in overseeing crypto exchanges; Investors are getting hurt in crypto markets
- Crypto platforms should not be able to self-certify
 
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karma

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Jysin said:
15:54 (US) SEC's Gensler: SEC will have a key role in overseeing crypto exchanges; Investors are getting hurt in crypto markets
- Crypto platforms should not be able to self-certify
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lol hurt in crypto markets. Best they not ask Gravel about the equities markets!
 
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Sanrith Descartes

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Jysin said:
15:54 (US) SEC's Gensler: SEC will have a key role in overseeing crypto exchanges; Investors are getting hurt in crypto markets
- Crypto platforms should not be able to self-certify
Click to expand...
Look how well their oversight works in the equities and bond markets. No investors getting hurt there.
 
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Arden

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Haus said:
I find it entertaining that you might think it's ONLY BTC shitting it's bed. ;) I'm suddenly glad I have been sitting on a pile of uninvested cash and too lazy to have put it anywhere yet.
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Bingo. Finally moving some of the cash I've been sitting on. Trying to be patient and buy in chunks but it's hard when shit is on sale
 
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Sanrith Descartes

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Arden said:
Bingo. Finally moving some of the cash I've been sitting on. Trying to be patient and buy in chunks but it's hard when shit is on sale
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Arden

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Arden said:
Agreed, interest in NFTs and retail interest in crypto has cratered and big growth tech stocks are down at least 50% on the year. None of that stuff is deniable. I don't think we are quite at the bottom though.

Interest in big growth tech stocks and crypto is minimal, but it's not completely fucking dead- and I think that's what Burry was saying needs to happen. Plenty of people are still holding on, assuming we will get a bounce back in the near future because they have recency bias. I think the timeline needs to lengthen a little more and those people need to get shaken out before we truly hit the bottom.

Personally, I see a lot more volatility in the future....

So no, I personally don't believe we have quite hit the bottom. It's not just that things are bad- you can build a better economy on top of a shitty economy, as long as things are relatively stable. Things are still far too volatile to start rebuilding imo.
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Posted that 10/22.
 
Haus

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reavor said:
Might be time to buy the dip
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I keep feeling like we haven't seen the bottom yet. That part of me that wants to see people on crypto twitter openly posting videos of them crying and .. as they would say... capitulating.
 
wormie

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Being below mining costs implies that bitcoin sellers think bitcoin are worthless. And there seem to be quiet a few sellers.
 
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Arden

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Haus said:
I keep feeling like we haven't seen the bottom yet. That part of me that wants to see people on crypto twitter openly posting videos of them crying and .. as they would say... capitulating.
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This is pretty much what Burry was saying we need to see before we see the true bottom. Tears and people swearing off crypto for life.

That said, I'm still trying to average down. I'm not confident that I'll be able to actually time the true bottom, so I'm going to be happy getting close.

The crypto bounce is going to be so fucking spectacularly big it won't matter if you caught the absolute bottom
 
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