Oh Snap! Bitcoin is crashing and may never recover
TPGS
Posts: 207 ✭✭✭
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.
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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.
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
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.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
I do not consider, those that speculate in crypto currency, INVESTORS..... SPECULATORS, would be a more appropriate terminology.
all investors are speculators. The level of risk they choose is irrelevant.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey