May 21 Crypto Crash? - Todays Marked is looking really bad, but I really don't see the reason.

[HOMO FOR LIFE]

Bitcoin does not have a good future I think. Too much competition and has been shown now, too much exposure to china.

Oh yeah. Bitcoin longs are gonna get fucked. Ethereum is nice.

 

[💗Freddie Freaker💗]

I think the following factors are all playing into the downward movement of crypto that started last week:

• Tesla announces it would stop taking BTC payments, citing environmental concerns. Rumors abound that they have sold or are selling off BTC
• Tether reveals their backing, showing they are majority backed by commercial paper and loans, not in cash as they used to claim
• Vitalik Buterin pulls a Bogdanoff and doomps millions-worth of Doge-inspired shitcoins
• Countless exit scams and rugpulls of shitcoins, as new money stops flowing in and the dumb money is mostly tapped out
• Grayscale BTC Trust trading well below NAV indicates institutions and big money investors are bearish
• Cascading effects of margin calls, weak hands rushing for exits, early buyers taking profit
• Chinese government showing signs of souring on crypto mining and purchasing, probably to help clear the way for their own CBDC
• Binance under investigation by US DoJ and IRS
• Colonial Pipeline ransomware attack giving bad publicity and a potential excuse for US regulators to step in
• Anticipation of NY AG report on Tether

Basically it's just been a really, really bad couple of weeks for crypto. Will the price recover in the short term as the news cycle slows down? Maybe, even likely, but maybe not. It's impossible to tell given crypto's speculative nature and the crypto market is a lot smaller and less resilient than crypto fans like to pretend it is.

You forgot one thing: one of the biggest DApps on Binance (Pancake Bunny) was hacked and millions of dollars were stolen from it. Yeah, the past few weeks have not been kind to the crypto world.

 

[Richard Harrow]

I may be late, but this also happened. It may or may not be relevant to the dips we've been seeing.

 

[💗Freddie Freaker💗]

Bogged tools (another big DApp on Binance) was just hacked.

Everything shitting the bed at the same time seems coordinated.

 

[Michael Jacks0n]

Bogged tools (another big DApp on Binance) was just hacked.

Everything shitting the bed at the same time seems coordinated.

I'm out of the loop, but was the usage of a meme about crypto crashing [Bogged] intentional or just a crazy coincidence for BogTools? Because if it wasn't intentional, with a name like that you're just setting yourself up for failure -- like naming your band Garbage.

 

[Coolio55]

I may be late, but this also happened. It may or may not be relevant to the dips we've been seeing.

Remember what happened last time lol:

Decapitated, dismembered body of man, 33, is found in luxury NYC block

The victim has been identified as Fahim Saleh, a millionaire tech entrepreneur who moved into his $2 million Lower East Side apartment late last year.

www.dailymail.co.uk

 

[knobslobbin]

Oh goodness me! Bitcoin is slightly under $40,000 a coin today, however shall I continue to afford Lamborghini polish at these abysmal rates?

 

[Tom Myers]

I only put 3k into bitcoin, but I've now down to $1600. Quarter of my retirement savings for the year so far down the drain.

 

[Vecr]

Don't sell, I don't see a point. I'm still up on Bitcoin though, and I do have a point I would sell at, but it's in the single digit thousands and I'd check for a flash crash first.

 

[💗Freddie Freaker💗]

https://www.rekt.news/bearn-rekt/got rekt.

I'm out of the loop, but was the usage of a meme about crypto crashing [Bogged] intentional or just a crazy coincidence for BogTools? Because if it wasn't intentional, with a name like that you're just setting yourself up for failure -- like naming your band Garbage.

It was intentional, I think. Like the band Garbage, they were quite successful for a while.

 

[Michael Jacks0n]

I only put 3k into bitcoin, but I've now down to $1600. Quarter of my retirement savings for the year so far down the drain.

Never invest money you can't afford to lose.

 

[Tom Myers]

Never invest money you can't afford to lose.

It's 3k so I make more than that in a week.

 

[Thomas Highway]

I only put 3k into bitcoin, but I've now down to $1600. Quarter of my retirement savings for the year so far down the drain.

 

[Knight of the Rope]

Does anyone have an idea?

Some insider posted this to /biz/. Now I know what you're thinking: "A /biz/ cuck? This is some next level shit from you @Knight of the Rope, are you trying to get banned from this subforum with your faggotry?" But let's hear him out.

/biz/ - Hey guys, insider here. For those of you that are - Business …

archived 20 May 2021 06:10:31 UTC

archive.ph

(Yes, there are people who unironically believe this dip is a calculated sell-off to fuck Elon Musk out of the cryptospace.)

 

[Alex Krycek]

I sold pretty much all my Crypto at just the right time and have a couple hundred left in Doge just to see what it does. So far my profits have been about 600, of Doge doesn’t turn up I’ll just cut my losses by next week. It did however make me more than say SafeMoon.

 

[TerminalTryHard]

I sold pretty much all my Crypto at just the right time and have a couple hundred left in Doge just to see what it does. So far my profits have been about 600, of Doge doesn’t turn up I’ll just cut my losses by next week. It did however make me more than say SafeMoon.

What's the deal with SafeMoon? half the people I hear talk about it call it a scam and the other half call it the next Doge.

 

[HOMO FOR LIFE]

I only put 3k into bitcoin, but I've now down to $1600. Quarter of my retirement savings for the year so far down the drain.

Lawlz.

 

[Tom Myers]

I love how absolutely poor these niggas are

 

[Kosher Dill]

half the people I hear talk about it call it a scam and the other half call it the next Doge.

Potato, potahto.

 

[Alex Krycek]

What's the deal with SafeMoon? half the people I hear talk about it call it a scam and the other half call it the next Doge.

I don’t know really. I was gifted some and it does all kinds of shit.