Much of the world may have missed it or slept through it, but BTC decided to take a heavy and fast dip. Bitcoin was trending sideways and down at around $52,000 On some exchanges it touched $42,000 at the bottom and immediately made a V shaped recovery up to about $46,000.. Since then it has recovered much of that back to about $48,000 which doesn't feel as bad once you have faced $42,000
Over a Billion dollars of liquidations happened.
Of course once a dip like that gets going volume is high and many crypto things go down. Including Coinbase and the entire BSC Binance Smart Chain seemed to be offline for a bit or at least unreachable.
I am still unable to log into Cubdefi, but hopefully once BSC getting back up and running everything there will be fine.
**
This tweet from El Salvador cracked me up though. All of Twitter was having a cow, and the CEO of El Salvador buys the dip like a boss! lol
Hive touched $1.50 and is struggling back up a bit, so hopefully the worst is over. I could see things going either direction from here!
Did you catch the dip? What moves if any did you make? I didn't buy, but my husband did.
Can't wait to see what happens next!
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I wouldn't call it a flash crash actually. During flash crashes price bounces to previous levels before the crash. What we see now is just a freakin crash. People expect retailers to buy in and send the price to the sky, yet they forget that retail money atm is practically none existent and people all over the world lose their jobs and go through shit, especially after the new Corona O invetion...
We will see a bounce at some point but who knows,maybe the worse is yet to come...
PS. That's got to be like my first comment after like 8 months or so. Damn...Need to start posting again.
PS2. Check the responses to Bukele's tweet from the Schiff family. Hilarious.
Okay, you are right a flash crash might be a bit dramatic.
Welcome back and good to see you!
I'll look at the tweet! :)
HIVE went to $3.4 that means it might drop 50% and stable before the next ATH. Today that happened!
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I didn't catch the bottom but I did manage to secure some of my HIVE with trading a little for HBD and purchasing some LEO plus I purchased some Splinterlands assets. Kinda wish I got more LEO when HIVE peeked but live and learn.
If I am a novice how to I begin to educate myself about the stock market?
I would like to start learning but I don't know where to start lol.
Find a project or two that you like real world stocks or crypto and just follow it every day for a while. Start trying to guess prices and direction, follow the news on it.
Once you follow a couple others will catch your attention and you will just naturally start to learn and ask questions!
I don't know why people like nayibbukele,
He uses tax money from his country to gamble on bitcoin.
Doesn't matter IMO he likes the idea of Bitcoin or not.
It's IMO nothing that anyone should do.
Also, it's IMO 100% against freedom if he can access the taxpayer's money like his private trading money.
Investing in mining, build infrastructure is different to gamble.
I can see that point, and I especially like the point you make about mining.
I just like it that he's out there tweeting and after all they aren't my tax dollars, I'd rather biden bought Bitcoin than do a lot of the stupid shit we fund!
I hear your point though.
politicals are not traders.
Biden would buy shiba inu at top,
Bukele buys btc top :D
And the worst thing is, El Salvador as a country needs fiat in the world trade space.
So El salavador will never be a holder, best case mining into net seller.
Maybe the country can become some Tax heaven for crypto/capital gains, that can be a real income stream.
Ugh, lol, I hope it won't keep on dipping because seriously not now when I'm planning to participate the hivecebubloggers Christmas party. Will it go back, what do you? I trust your prediction like a prophet. hahhaa
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I really haven't been sure since November was so much weaker than I thought.
I'm still hopeful we get a nice run before the end of the year, things can change quickly.
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I was watching it closely with every move....I guess the dip took away your sleep🤔
Well I managed to get hand on some altcoins...and some on Hive too..had very few liquid in hand...wish I could had more..
Yeah, it would be a great time to have a lot of fiat in, but then it always feels like that.
What was interesting about this particular flash crash is that Hive — in spite of just having had its run-up — actually was strong vs. BTC during this event. I half expected all of the week's gains to be given back... but no, not at all.
=^..^=
Hive did hang in there pretty well!
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Well....like most big moves I'm just sitting back...not active enough to have cashed out at 69k, I was waiting to see if we could push 100k first before having a huge crash like this. I miss the short term trades every time, but I bought at 5-8k so I'm good. I just hope this fake out doesn't hit 20k. That would infuriate me because it means my plan to sell near the high and buy back at half the price has been destroyed haha
I don't think we see 20k yet, I mean we might again, but unlikely for now.
nasty hit wasn't it?
I don't know how long it will be like this but at the moment you need to tag #pob rather than #vyb - the vyb front end is not up yet
And proofofbrain.io is not running today - that is the only front end i'm free to comment on...
@frot
Alright, I'll keep adding tags until I find you
Did something happen to BSC? I checked the CubDefi site but it looks fine.
I didn't buy the dip and I didn't even realize that it happened. Maybe it's because I don't really pay attention to the price as much. I am not really surprised that it flash crashed when it broke down below $52,000. It was the line of support that most traders were looking at.
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It was down for a bit but came back up
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Lol. El Salvador is out for bitcoin and I love their zeal. Let see how fast the market will correct.
I'm pretty sure we get an end of year rebound if not a run. But not as big of a run as I was thinking.
Gotta love over leveraged retards getting liquidated.