Blackrock declares Crypto DEAD

[MinnesotaFats]

Crypto Stocks Teeter Near Abyss as Fink’s Warning Adds to Angst

(Bloomberg) -- Analysts and investors are struggling to call a bottom in crypto stocks in the wake of a brutal month that ended with the head of BlackRock Inc. saying most digital-asset firms won’t survive. Most Read from BloombergLarry Summers Says Fed Will Need to Boost Rates More Than Markets...

finance.yahoo.com

 

[JDS]

Crypto Stocks Teeter Near Abyss as Fink’s Warning Adds to Angst

(Bloomberg) -- Analysts and investors are struggling to call a bottom in crypto stocks in the wake of a brutal month that ended with the head of BlackRock Inc. saying most digital-asset firms won’t survive. Most Read from BloombergLarry Summers Says Fed Will Need to Boost Rates More Than Markets...

finance.yahoo.com

Don’t care, as long as I can use the technology to send money back & forth to gamble offshore. I could care less about the swings.

I made some decent money for myself when it was going up in 2021, but I think we all know this is not a safe investment to hold on to.

Still a lot of people would disagree with that only because they have a huge stake in the Digital asset. I wish the best for those biased investors & their money.

 

[Wagerallsports]

Don’t care, as long as I can use the technology to send money back & forth to gamble offshore. I could care less about the swings.

True here I was thinking that this whole time

But yes I agree with the way things are now inflation, shortages, and everything getting worse, I don't see it ever being anything like it was

 

[Diggers77]

I think they’re correct in most of shit coins will fail, hell they need to fail but the title is misleading. I think bitcoin is fine, and 2-3 more.
i find this story way more interesting concerning blackrock’s wokeness.

DeSantis pulls $2BN from woke BlackRock

Florida's Chief Financial Officer Jimmy Patronis announced that the state's Treasury would remove BlackRock as a manager.

www.dailymail.co.uk

 

[Ace7550]

Crypto is dead, meanwhile the market cap is 860 billion

 

[MinnesotaFats]

Crypto is dead, meanwhile the market cap is 860 billion

Well liquidity is the issue in play regarding the article.

You need exchanges and willing buyers, of which there are a dwindling number of both. So the cap can be whatever, but if there's no way to convert, and no willingness to convert, then there's not much of a market...I think that was the jist of the article.

BIT continues to hit resistance at 16k, I'm just not sure who's buying it thou (governments???)

 

[Ace7550]

You'd be surprised how many people buy it for cash. Most crypto people are paranoid anti-government type folks. There's a big market for non-kyc bitcoin.
Also, I think there's very little liquidity because people are pulling out of exchanges and just holding their btc on a trezor or something similar. I know a few people heavily invested in btc. Not one of them keeps their btc on an exchange.

 

[JDS]

Crypto is dead, meanwhile the market cap is 860 billion

You'd be surprised how many people buy it for cash. Most crypto people are paranoid anti-government type folks. There's a big market for non-kyc bitcoin.
Also, I think there's very little liquidity because people are pulling out of exchanges and just holding their btc on a trezor or something similar. I know a few people heavily invested in btc. Not one of them keeps their btc on an exchange.

Seems about right.

 

[Diggers77]

Crypto is dead, meanwhile the market cap is 860 billion

True but Apple alone is almost three times larger than all of crypto combined. The eye opener is crypto had a market cap of 2.9 Trillion one year ago.

 

[Ace7550]

True but Apple alone is almost three times larger than all of crypto combined. The eye opener is crypto had a market cap of 2.9 Trillion one year ago.

I remember 10 years ago when people we're saying btc getting to $1,000 was crazy talk. Now 17k seems low. Crazy world

 

[MinnesotaFats]

Bitcoin could plunge 70% to $5,000, Standard Chartered predicts, in possible 2023 'surprise'

The potential crash in bitcoin prices makes Standard Chartered's list of scenarios that its analysts feel are "under-priced by the markets."

www.cnbc.com

 

[JDS]

Bitcoin could plunge 70% to $5,000, Standard Chartered predicts, in possible 2023 'surprise'

The potential crash in bitcoin prices makes Standard Chartered's list of scenarios that its analysts feel are "under-priced by the markets."

www.cnbc.com

If that happens Ace will just buy more. Seems to be in the heavily invested crowd.

 

[Tanko]

Bitcoin could plunge 70% to $5,000, Standard Chartered predicts, in possible 2023 'surprise'

The potential crash in bitcoin prices makes Standard Chartered's list of scenarios that its analysts feel are "under-priced by the markets."

www.cnbc.com

 

[Ace7550]

The best one-minute bitcoin prediction video ever:

 

[Tanko]

The best one-minute bitcoin prediction video ever:

I liked the video. Subtle point made. Reminds me of "and then... one time at band camp.... "



Hopefully, people get the reference.

 

[Ace7550]

I liked the video. Subtle point made. Reminds me of "and then... one time at band camp.... "



Hopefully, people get the reference.

What's mind blowing to me is that video is 7 years old. The same shit over and over...

 

[JDS]

What's mind blowing to me is that video is 7 years old. The same shit over and over...

Hey Ace what year did you start buying Btc & holding ? Also have you ever sold it to cut your losses in a Bear market …

 

[Ace7550]

Hey Ace what year did you start buying Btc & holding ? Also have you ever sold it to cut your losses in a Bear market …

Believe it or not I bought my first bitcoins in 2011. I bought 2500 bitcoins at just over $2 a piece. Unfortunately, I sold most of those when they hit $5. It was a tidy profit of about 7k in a month and I couldn't have been happier at the time. The rest I lost in the mtgox meltdown. Since then I've bought and used btc to pay for everyday purchases. For a while I had a credit card that I could use at the grocery store and it would pull btc from my coinbase account. In 2017 I invested in a bitcoin mining firm and still own shares in that. It's been a good investment but not as good as if I'd just bought bitcoins.
The best money I ever made in crypto was in 2017 arbitraging between different exchanges. I remember a time when litecoin was selling for 20% more on coinbase vs poloniex. All you had to do was buy it at poloniex, send it to coinbase, and sell it. Repeat, repeat, repeat.
I don't currently own any crypto. But having shares in a btc mining firm is pretty much the same as holding btc.
I sold whatever bitcoin I had in early 2021 at the 36k mark.

 

[JDS]

Believe it or not I bought my first bitcoins in 2011. I bought 2500 bitcoins at just over $2 a piece. Unfortunately, I sold most of those when they hit $5. It was a tidy profit of about 7k in a month and I couldn't have been happier at the time. The rest I lost in the mtgox meltdown. Since then I've bought and used btc to pay for everyday purchases. For a while I had a credit card that I could use at the grocery store and it would pull btc from my coinbase account. In 2017 I invested in a bitcoin mining firm and still own shares in that. It's been a good investment but not as good as if I'd just bought bitcoins.
The best money I ever made in crypto was in 2017 arbitraging between different exchanges. I remember a time when litecoin was selling for 20% more on coinbase vs poloniex. All you had to do was buy it at poloniex, send it to coinbase, and sell it. Repeat, repeat, repeat.
I don't currently own any crypto. But having shares in a btc mining firm is pretty much the same as holding btc.
I sold whatever bitcoin I had in early 2021 at the 36k mark.

Thanks for answering that question so direct & explaining your history with digital assets.

 

[Tanko]

Ace is Aces here.
Educating everyone on Crypto. It's good we have that level of expertise in the house.