If you look at the volume over the last 3 days on BTC it is nowhere near the volume when it had that dramatic drop from over $60, not to mention the drop in $ terms.BTC now 21.8k, other than microstrat, there are a lot of other BTC investors starting to face margin calls now as everything in crypto starts to unwind. Binance had a big hiccup in transactions overnight as well, now its fixed but will just mean the sell down becomes faster.
Stocks wise coinbase has gone from 350+ to 52 as of trading close last night.
Its dotcom crash all over again.
The $20k price level does seem to be a critical support level for Bitcoin based on price action. Every time BTC approaches $20k buying comes in to keep it above that level. Interesting article in Decrypt about this...Bitcoin going below $20,000 will trigger huge liquidations that will drive it below its 2017 peak. More pain coming. Bitcoin currently at $20,277 and heading inexorably towards that critical $20,000 level.
It will happen all of a sudden.The $20k price level does seem to be a critical support level for Bitcoin based on price action. Every time BTC approaches $20k buying comes in to keep it above that level. Interesting article in Decrypt about this...
What Happens if Bitcoin Falls Below $20,000?
Some notable quotes...
"If these levels break, $20k $BTC & $1k $ETH, we can expect massive sell pressure in the spot markets as dealers hedge themselves. We can also expect that there will be some otc dealers and that will be unable to hedge properly and might go belly up."
“I think many are fearful of a liquidation cascade occurring with the likes of Celsius being margin called, and now having a liquidation price of around $17,000 on their BTC position,”
And as the final curtain approaches on the speculative frenzy to buy into thousands of virtual currency projects, the crash of all these crypto casino tokens will no doubt cause a tidal wave of litigations such as this...It will happen all of a sudden.
Getting close for me to buy bitcoin. Just needs to halve.
Then maybe halve again.
Goes well if your following trend and participating in the sell off! Who says what goes up doesn't come down! Oils the one to watch also!Joel nearly had a house deposit in crypto. Now most of it's gone after the crash
The financial fate of many Australians will be decided over the next few days, as the price of many cryptocurrencies plunges and one major crypto-lender locks customers out of their own accounts.www.abc.net.au
And everybody was saying bitcoin is such a investment and stepping stone bla bla
They should have followed the 'moxjo trading method':Joel nearly had a house deposit in crypto. Now most of it's gone after the crash
The financial fate of many Australians will be decided over the next few days, as the price of many cryptocurrencies plunges and one major crypto-lender locks customers out of their own accounts.www.abc.net.au
And everybody was saying bitcoin is such a investment and stepping stone bla bla
Good to read that Inflation is the probable cause of BTC fall from grace! Something worth keeping an eye on!They should have followed the 'moxjo trading method':
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