BTC Jumps 10% in Last 5 hours.... ????

[Tanko]

So the markets are up ~1% but BTC jumped 10% today.
WTH?

 

[jjgold]

It goes up and it goes down just like stocks

 

[Tanko]

It goes up and it goes down just like stocks

Not usually in 10% moves with no news.
I can't find any news on why this happened.

 

[jjgold]

Don’t even worry about short term you’ll never make money it’s all about long-term in financial markets

The more trade you make the more money you will lose short term

 

[fried cheese]

well usdc lost its dollar peg with the svb crash since it had assets backing it in that bank. now that the gov guaranteed the money the peg will be back so bitcoin is back at the pre bank crash amount again.

 

[Tanko]

well usdc lost its dollar peg with the svb crash since it had assets backing it in that bank. now that the gov guaranteed the money the peg will be back so bitcoin is back at the pre bank crash amount again.

Thanks fried cheese.
Yep, BTC jumped right back up to where is was before SVB

 

[Pimike]

Glad I added at 19

 

[sportsbettor5]

So the markets are up ~1% but BTC jumped 10% today.
WTH?

Many investors view crypto as a safe haven investment in the event of a financial crisis. Some believe that FDIC deposit insurance could fail, making bank holdings worthless.

The shocking news about SVB, Silvergate, and now regional banks like First Republic has many investors thinking a financial crisis similar to 2008 is a real threat.

Furthermore, there are rumblings that the Fed might slow its rate increases due to the possibility of higher rates forcing more bank failures. This would keep inflation high, and many investors view crypto as as good inflation hedge.

 

[jjgold]

Remember, the crypto market is still controlled by the rich people that have a lot of it

 

[JDS]

It actually spiked just in the last two hours. This profit margin should grow another 1 to 2% by the end of the day from the late investors.

 

[jjgold]

It seems like it’s in a range if it gets to like 24000 sell

 

[Franklee168]

I cashed out funds from my BOL account back to bitcoin. That would explain it.

 

[JDS]

I cashed out funds from my BOL account back to bitcoin. That would explain it.

Well done Frank.

 

[Tanko]

I cashed out funds from my BOL account back to bitcoin. That would explain it.

Franklee... aka Elon Musk.

 

[Ace7550]

Many investors view crypto as a safe haven investment in the event of a financial crisis. Some believe that FDIC deposit insurance could fail, making bank holdings worthless.

The shocking news about SVB, Silvergate, and now regional banks like First Republic has many investors thinking a financial crisis similar to 2008 is a real threat.

Furthermore, there are rumblings that the Fed might slow its rate increases due to the possibility of higher rates forcing more bank failures. This would keep inflation high, and many investors view crypto as as good inflation hedge.

Yep yep. I think it's a good time to be holding at least a little btc. I have about 5% of my holdings in btc.

 

[Pimike]

Yep yep. I think it's a good time to be holding at least a little btc. I have about 5% of my holdings in btc.

I’m in a bit more than that

 

[Pimike]

Yep yep. I think it's a good time to be holding at least a little btc. I have about 5% of my holdings in btc.

Then again it depends what 5% of how much

lol

 

[Ace7550]

Then again it depends what 5% of how much

lol

I'm mostly in real estate. Like 60%.

 

[JDS]

I'm mostly in real estate. Like 60%.

You’re in the right business to create generational wealth with zero to little risk. I wish my father was into this growing up as an adolescent to teach me the ins & outs of the industry. Oh well, he was just a dumb electrician like me lol & a terrible investor

 

[Ace7550]

Bro, electricians are pretty smart. I can't do that shit.