4um: Crypto Crashes Overnight As Whales Move Bitcoin To Exchanges

Status: Not Logged In; Sign In
World News
See other World News Articles
Title: Crypto Crashes Overnight As Whales Move Bitcoin To Exchanges
Source: [None]
URL Source: https://www.zerohedge.com/crypto/cr ... -whales-move-bitcoin-exchanges
Published: Nov 26, 2020
Author: Tyler Durden
Post Date: 2020-11-26 08:36:53 by Horse
Keywords: None
Views: 542
Comments: 12

In the biggest crash since March, Bitcoin prices collapsed by over $3000 overnight (from just shy of $19500 to $16300 at the morning's lows)...
Post Comment Private Reply Ignore Thread
Top • Page Up • Full Thread • Page Down • Bottom/Latest
Begin Trace Mode for Comment # 12.
#1. To: Horse (#0)
That was after a massive rise that began about 2 weeks ago, so it wasn't unexpected.
Whales merely moving bitcoin to exchanges wouldn't cause it. They would have to be profit taking, likely temporary profit taking.
It will go back up. In crypto this happens.

Pinguinite posted on 2020-11-26 9:16:22 ET Reply Untrace Trace Private Reply
#7. To: Pinguinite (#1)
Prices don't fluctuate like that in a grocery store. Why> Because items have a value based on common use and needs. Crypto is in a bubble. Golf and silver go up and take profits, and then go up again. Why: Because the probable value of the dollar in the future is seen as declining. Crypto has no stable value.

Horse posted on 2020-11-26 18:19:27 ET Reply Untrace Trace Private Reply
#8. To: Horse, Esso, Pinguinite (#7)
Golf and silver go up and take profits, and then go up again. Why: Because the probable value of the dollar in the future is seen as declining. Crypto has no stable value.

I got a wild hair up my ass earlier this year and decided to dabble in the stock market. I spent a couple weeks looking for undervalued stocks, settled on RYCEF (Rolls Royce jet engines).
I only put like $2000 on the line, but it has just kept tanking. From $2.92 that I bought in, down to $0.54. If it ever goes above $3.00 again I'm selling. It was at like $18.00 a couple years ago.

Dakmar posted on 2020-11-26 18:31:18 ET Reply Untrace Trace Private Reply
#10. To: Dakmar (#8)
Some months ago I told you I would try to get my wife (an ever-more- serious dabbler in the market) to recommend a stock for you. But she's shy about that; not sure why.
The Marathon Petroleum (MPC) I bought in March at about $27 is at $41.48 now. Pays a nice dividend, too. I should sell it soon, as I don't think the long term outlook for oil is good.
Are you sure RYCEF went down to $0.54? It appears to be at $1.53 now.

StraitGate posted on 2020-11-26 22:27:49 ET Reply Untrace Trace Private Reply
#12. To: StraitGate (#10)
I would hold on to MPC and sell at about $44. It will drop a couple months into Bidet's reign.

Dakmar posted on 2020-11-26 22:36:48 ET Reply Untrace Trace Private Reply
Replies to Comment # 12.
There are no replies to Comment # 12.

End Trace Mode for Comment # 12.
Top • Page Up • Full Thread • Page Down • Bottom/Latest

Freedom4um