What does below or at nasdaq correlation even mean? It’s a max of 1:1 correlation. So it’s almost necessarily “below” correlation.
It has been closely correlated for a long time, during the bump it was tracking a few days behind. Now it has caught up and could move faster.
Also while I have you, the upcoming recession was all part of the fed’s awesome master plan to save us from covid and totally nail the recovery right? How many recessions is this that the fed has overseen since its creation? I’ve lost track.
Lol if you don’t think this ends in more QE and assets going up. It’s all one trade. The market dropping is cover for them to not remotely get to 7 rate hikes or whatever ridiculous propaganda chase and Goldman are parroting these days. 3-4% rates will break everything that matters. This was true in March 2020 when btc crashed to $4k. It’s true now as markets experience another liquidation event. In 5 years, we’ll crash to…idk…$70k. And a new group will be in here acting like “a break below $70k is a how low does it go thing.” Yawn.
The thesis hasn’t changed from $2k to $69k to $30k. I responded because your comment about “who knows how low it goes” was stupid. Wake me up in 2030. This directed at me or lyrtch?
Ok dbl. Ftr, you’d have been better off making a point around the 200 week moving average ($24k-ish) or $20k (the prior cycle approximate high). Your comment at $30k was pretty meaningless based on history, past cycles, etc. Don’t let that get in the way of a meaningless comment though.
Sorry guys I bought some crypto in December 2021 so it was destined to go down hard after that. I bought the dips twice in April too.
Sold almost all btc I was holding back in early October at 49k then watched it continue to climb to 65k and was kicking myself. Haven't had to sweat this latest decline though. Idk when I'll get back in, but probably soon. Rooting for 20k to see what happens with Saylor but doubt it gets there. Getting back in now at 40% less than what I sold would be a W so probably should do that.
For the “they’ll get margin called” crowd that has been quite active on Twitter recently (Grant Williams, Travis Kimmel, etc.)
Their CFO is in the "they'll get margin called" crowd. If bitcoin falls below $21,000, MicroStrategy will be met with a margin call from one of its loans. That would force the company to either put up more collateral to the loan or sell some of its bitcoin holdings, according to comments from MicroStrategy CFO Phone Le on the company's most recent earnings call. MicroStrategy was asked during the call, "how far does bitcoin have to fall for MicroStrategy to receive a margin call on the Silvergate loan?" "As far as where bitcoin needs to fall, we took out the loan at a 25% loan-to-value, the margin call occurs [at] 50% loan-to-value. So essentially, bitcoin needs to cut in half or around $21,000 before we'd have a margin call," Le answered. Bitcoin would need to fall 36% from current levels to hit $21,000.
lot of incentive by others in the space to prop it up to keep the money train going with other ponzis
i think counting on boom and bust retail cycles going forward is folly, this one was so big there's a LOT of people who lost a lot of money maybe if there's some real utility cases down the road, but a little skeptical
They came back after ‘17 , obv this was much larger, but I kinda think we’ll never quench that appetite for quick/outsized returns so long as there’s similar socioeconomic disparity in this country. *And I realize that’s a shameful/maybe unethical take, but just playing the hand dealt in the game we’ve created.
Glassnode has a bitcoin active addresses metric that I’ve seen people use as a rough proxy in the past. Believe they also have something like number of wallets with amounts below .1 btc or 1 btc, which is also a rough approximation.
I don’t have anything outside of some tiny holdings I didn’t bother to off load, but I can’t look away. Hope everyone here got out of the way in time
Have some small positions that are dead now, and one that is still up 750% and prints 50% in other coins (although LUNA was a good chunk of that) Added cash to CBPro, looking to buy maybe