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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: 848
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)...

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#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  

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  

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  

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  

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  

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