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Oh Snap! Bitcoin is crashing and may never recover

TPGSTPGS Posts: 207 ✭✭✭
edited June 13, 2022 3:41AM in Precious Metals

Bitcoin is crashing.
You can't even withdrawl much money per day.
Some invertors even borrowed heavily to buy bitcoin. They will be in the soup kitchen line. So sad.

Comments

  • tincuptincup Posts: 4,722 ✭✭✭✭✭
    edited June 13, 2022 6:28AM

    It is certainly sobering; it does make one wonder if any of the investors will be able to obtain their investments back. Rough times ahead, the stock market and metals are getting kicked around pretty good also.

    ----- kj
  • TPGSTPGS Posts: 207 ✭✭✭

    :o Binance has temporarily paused #Bitcoin withdrawals on the $BTC network. Meanwhile, you can still withdraw BTC on other networks.

    This is due to a stuck on-chain transaction. Our team is currently working on a solution and will provide further updates soon.

    Binance (@binance) June 13, 2022

  • derrybderryb Posts: 36,025 ✭✭✭✭✭
    edited June 13, 2022 7:00AM

    As stated in earlier threads, crypto requires close monitoring, especially since it trades 24/7, and since it has been tracking equities for some time now. Look for cryptos to recover strong but not anytime soon. All that cash piling up on the sidelines will eventually and correctly become viewed at toxicflation.

    Anyone just now exiting HAS NOT been monitoring. A move out of cryptos and into UVXY was the smart play.

    The decline from democracy to tyranny is both a natural and inevitable one.

  • OPAOPA Posts: 17,104 ✭✭✭✭✭

    @tincup said:
    It is certainly sobering; it does make one wonder if any of the investors will be able to obtain their investments back. Rough times ahead, the stock market and metals are getting kicked around pretty good also.

    I do not consider, those that speculate in crypto currency, INVESTORS..... SPECULATORS, would be a more appropriate terminology. >:)

    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • derrybderryb Posts: 36,025 ✭✭✭✭✭
    edited June 13, 2022 2:06PM

    all investors are speculators. The level of risk they choose is irrelevant. >:)

    The decline from democracy to tyranny is both a natural and inevitable one.

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