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Crypto markets tumble and investors get their fingers burned
Posted: Sun May 15, 2022 5:50 am
by Sky
https://www.cbc.ca/news/business/crpto- ... -1.6450411
Canadian fintech scholar who warned of meltdown says economy will feel impact.
Souvenir cryptocurrency coins representing three major digital tokens, including stablecoin tether, got caught in the downdraft as another stablecoin, terra, ended trading after 'its catastrophic failure,' says one Canadian expert, which 'contributed to the larger crypto sell-off.'
People who put their hard-earned cash into a tumbling cryptocurrency unit that is at the heart of the latest sharp decline in digital coins may be regretting they did not read a recent paper by Canadian financial technology scholar Ryan Clements demonstrating why it was bound to fail.
In fact, all investors who have piled into any crypto assets since the end of 2020 and have not already sold may be feeling remorse for failing to take Clements's comments in my last column on cryptocurrency as a word to the wise. Most will be deeply under water: In other words, their investments will be worth a lot less than they paid for them.
"I'm not sure ... that people knew what they were getting themselves into," Clements said on Thursday as he surveyed the damage on his computer screen.
Read more: Trillion-dollar losses
Re: Crypto markets tumble and investors get their fingers burned
Posted: Fri May 20, 2022 12:32 pm
by AncientSword
The falling of cryptocurrencies is unfortunate. I would not put my cash in crypto. What a disaster for many investors, indeed.
Re: Crypto markets tumble and investors get their fingers burned
Posted: Wed Jun 15, 2022 11:20 pm
by Bug_Man
"Extreme market conditions" are happening.
Bitcoin Price: Jun 15 - 22,503 USD
Jun 15, 2022 - Bitcoin's (BTC) price neared $20,000 during European hours Wednesday as it extended a 12-week slide.
Crypto lender Celsius paused all withdrawals earlier this week citing "extreme market conditions," leading to questions about the firm’s liquidity.
Prominent crypto fund Three Arrows faced at least $400 million in liquidations and scrambled to lower its collateral levels by selling key positions Wednesday morning, as reported.
Bitcoin fell to just above the $22,000 level in USA hours Tuesday. The decline gathered pace Wednesday morning, with the cryptocurrency sliding under $21,000, dropping for the eighth consecutive day and losing 30% over the past week.
Read more about this here:
https://www.coindesk.com/markets/2022/0 ... o-markets/
Re: Crypto markets tumble and investors get their fingers burned
Posted: Wed Jun 15, 2022 11:34 pm
by admin
They are too optimistic (those who think that Bitcoin will go to $1,000,000 by 2030).
The latest plunge in prices for Bitcoin is significant.
Bitcoin, the world's first and most-popular so-called cryptocurrency, reached a new all-time high over $68,000 USD on Nov. 10. Bitcoin's previous record high came in October, when it nearly hit $67,000 USD.
The most popular cryptocurrency has shed about 70% of its value since hitting an all-time high of roughly $69,000 in November. The entire crypto market is having similar losses. The overall market capitalization of crypto assets has dropped to less than $1 trillion from its November 2021 peak of $3 trillion.
Bitcoin really tumbles these days as crypto sell-off continues.
The world’s largest cryptocurrency has decreased about 70 percent since its record high of $69,000 USD in November.
Bitcoin fell on Wednesday to a new 18-month low, dragging smaller tokens down with it.
Re: Crypto markets tumble and investors get their fingers burned
Posted: Thu Jun 16, 2022 12:19 am
by Bug_Man
Jun 15, 2022 - Bitcoin Drops Toward $20K Amid Contagion Risks in Crypto Markets
The so-called asset is nearing a price level not seen since 2020 as prominent crypto firms see possible insolvencies.
Read more here:
https://www.coindesk.com/markets/2022/0 ... o-markets/
In other important news, The USA Consumer Price Index (CPI) report for May showed inflation in the world's biggest economy hit 8.6% on a year-on-year basis.
Re: Crypto markets tumble and investors get their fingers burned
Posted: Thu Jun 16, 2022 8:47 pm
by Wolf Dog
The graph over 5 days looks pretty bad. It went from 28,000 USD to 21,000 USD.
It seems that some investors still think that Bitcoin and crypto remain 'durable assets.'
Crypto's June Fall has shaken the confidence of many.
Some people do not predict a longer-term demise for digital assets.
Re: Crypto markets tumble and investors get their fingers burned
Posted: Thu Jun 16, 2022 8:55 pm
by Wolf Dog
Over a month, the Bitcoin situation looks pretty bad. The price was around 30,000 USD for some time. Now it is at 21,000 USD.
It is amazing that some speculators said that bitcoin will hit $1,000,000 by 2030.
It is certainly difficult to predict where prices go next for Bitcoin.
Re: Crypto markets tumble and investors get their fingers burned
Posted: Sat Jun 25, 2022 2:40 pm
by Post-Truth
Looks like Bitcoin price is still about the same, around 21,000 USD.
Bitcoin is sure hovering near $21K. Investors hope to avoid another decrease.
Some stock analysts are questioning whether BTC will be able to remain above the $20K threshold. Investor confidence certainly has weakened recently.
Altcoins outperformed bitcoin with axie infinity (AXS) and polygon (MATIC) among the biggest gainers.
In other news, a Chinese Communist Party (CCP) newspaper has warned investors should be prepared for the bitcoin price to hit zero.
"Bitcoin is nothing more than a string of digital codes, and its returns mainly come from buying low and selling high," the Economic Daily newspaper wrote, it was reported by the South China Morning Post. "In the future, once investors' confidence collapses or when sovereign countries declare bitcoin illegal, it will return to its original value, which is utterly worthless."
Re: Crypto markets tumble and investors get their fingers burned
Posted: Wed Jul 27, 2022 8:34 pm
by Sky
July 27, 2022: Bitcoin Price: 22,692.20 USD
+1,968.60 (9.50%) up for past month
Bitcoin price changes seem to show a bearish continuation pattern. There could be a possible crash to something like $11,000 USD.
Forward-looking statements involve risks and uncertainties.
Do your own thorough research before making any important investment decisions.
Re: Crypto markets tumble and investors get their fingers burned
Posted: Sun Sep 29, 2024 5:28 pm
by xkhan