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Meltdown: Bitcoin crashes to $576


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(edited)
33 minutes ago, Ody_2004 said:

ok lah some can totally lose it don feel a thing.. some drop 10% wanna cry father cry mother liao..

when it is not regulated and with 19000 type of coins around some one will get hurt badly.. retailors will be the most trapped..

those leverage with 5x and 10x ... jit dong jeng liao

during bull run ... all showoff in youtube and tiktok how easy to turn $10K to $100K sup sup water .... [sweatdrop] 

Edited by Wt_know
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Turbocharged
21 minutes ago, Wt_know said:

after LUNA .... next is CELSIUS ... [sweatdrop] ... YTD down 94%

2022-06-14_082214.png

like game of thrones, "Winter is coming"?

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https://www.cnbc.com/2022/06/14/cryptocurrencies-sell-off-continues-bitcoin-and-ethereum-fall.html

CRYPTOCURRENCY

Bitcoin drops below $21,000 briefly as crypto sell-off continues

 POINTS

  • Bitcoin briefly dropped below $21,000 on Tuesday in Asia before bouncing back slightly, continuing its plunge as investors sold off risk assets.
  • Around $200 billion has been wiped off the cryptocurrency market since Saturday as the value of all digital coins fell below $1 trillion for the first time since Feb. 2021.
  • Crypto assets were hammered on Monday as concerns mount over the solvency of lending platform Celsius and as Binance paused withdrawals briefly.

Bitcoin briefly fell below $21,000 on Tuesday in Asia before bouncing back slightly, continuing its plunge as investors sold off risk assets.

The world’s largest cryptocurrency was down around 7% and trading at $22,531.22 at around 05:13 a.m. ET, according to Coindesk data. Bitcoin is trading at its lowest level since late 2020. Other digital coins including ether tumbled were also sharply lower.

The market capitalization for cryptocurrencies slipped below $1 trillion on Monday for the first time since February 2021, data from CoinMarketCap showed. Around $200 billion has been wiped off the market since Saturday.

“Everything is on fire right now, be it the equities, be it the crypto assets or anything,” said Nirmal Ranga, head of trading and technical analysis at crypto exchange ZebPay.

“What you’re seeing in the market is … fear, uncertainty and doubt. Technically, markets look oversold and there has to be some floor that we’re going to hit in bitcoin in the coming future,” he told CNBC’s “Street Signs Asia.”

Crypto assets were hammered on Monday after crypto lending platform Celsius paused withdrawals, speaking fears of a solvency issue at the company which could spread to other parts of the market.

Celsius said withdrawals, swaps, and transfers between accounts would be halted because of “extreme market conditions” and that the move was meant to “stabilize liquidity and operations.”

“We are taking this action today to put Celsius in a better position to honor, over time, its withdrawal obligations,” the company said in a memo.

Then one of the world’s largest cryptocurrency exchanges Binance stopped withdrawals.

Meanwhile, Binance, the world’s largest crypto exchange, halted bitcoin withdrawals for over three hours “due to a stuck transaction causing a backlog.”

Crypto lender BlockFi also slashed jobs as the impact of the market turmoil filters through to companies.

The crypto sell-off comes as investors broadly shunned risky assets against a backdrop of fears over a potential global recession as major central banks around the world hike interest rates to tame inflation.

Policymakers at the U.S. Federal Reserve are now contemplating the idea of a 75-basis-point rate increase later this week, according to CNBC’s Steve Liesman. That’s bigger than the 50-basis-point hike many traders had come to expect. The Wall Street Journal reported the story first.

Rising rates tend to make future earnings for growth assets look less attractive.

Bitcoin has fallen nearly 70% from its all-time high in November 2021.

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Oh i so zhun ah?  
Now i can go around boasting that i am a champion bitcoin trader. 
and run webinars for loads of fiat money!  Whoopee!

 

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Hypersonic
35 minutes ago, Wt_know said:

not just retail ... hedge funds also jit dong jeng liao!

2022-06-15_222406.png

wah jia lat… the gcb he bought under his son name how?

😬😵💫

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1 minute ago, Enye said:

wah jia lat… the gcb he bought under his son name how?

😬😵💫

Bought under trust. Good strategy to protect the asset from all including himself. 

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(edited)

simi Terra, simi Celsius, simi Tron 

these are the same "shit" like the 2008/2009 CDS (credit default swap) but in cryptos

give you high yields with the simi sai name stablecoin but not stable 

then over collaterised and the "founder" all makan the money first and let the roberto "funder" jit dong jeng liao ... 

 

2022-06-17_083342.png

Edited by Wt_know
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(edited)
10 minutes ago, Wt_know said:

simi Terra, simi Celsius, simi Tron 

these are the same "shit" like the 2008/2009 CDS (credit default swap) but in cryptos

give you high yields with the simi sai name stablecoin but not stable 

then over collaterised and the "founder" all makan the money first and let the roberto "funder" jit dong jeng liao ... 

 

2022-06-17_083342.png

These are worse - there is no collatorals behind. If have it's another crypto. Need a greater fool to drive up the price. Only good for laundry business. 

Edited by Volvobrick
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(edited)
14 minutes ago, Volvobrick said:

These are worse - there is no collatorals behind. If have it's another crypto. Need a greater fool to drive up the price. Only good for laundry business. 

yeah … this kind of ponzi scheme i already know how to run 30 years ago

pull a group of friends … each throw $10k in and every month i bring them to ktv talk cock sing song and give business update fugazi fugasee saying investment doing great and ask for more $$$ :grin:

Edited by Wt_know
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(edited)
2 hours ago, Volvobrick said:

These are worse - there is no collatorals behind. If have it's another crypto. Need a greater fool to drive up the price. Only good for laundry business. 

Trust me, many fools out there.   Song ah…….

 

Edited by Throttle2
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(edited)
18 minutes ago, Throttle2 said:

Trust me, many fools out there.   Song ah…….

in cryptos

liquidity pool = liquidity fool 

the former all makan and run liao

the latter are sheep sending to slaughter house 

Edited by Wt_know
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2 hours ago, Wt_know said:

in cryptos

liquidity pool = liquidity fool 

the former all makan and run liao

the latter are sheep sending to slaughter house 

Decades ago fraudsters and todays fraudsters are still the same. Only platform and product move with the times.

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