• "Spreading the ideas of freedom loving people on matters regarding metals, finance, politics, government and many other topics"

Do not panic, buy the dips!

Scorpio

для продажи слегка подержанный
Founding Member
Board Elder
GIM Hall Of Fame
Joined
Mar 25, 2010
Messages
33,326
Reaction score
54,162
too funny,
no matter the market, the mantra never changes,

doesn't matter if you are talking stocks, metals, or crypts

always don't worry, buy more

and of course, if you notice, the author is invested in crypts, so 'magine that




----------

Why Bitcoin, Ethereum, and Solana Are All Crashing Today​

A cryptocurrency crash hit hard on Tuesday morning.​

large.ashx

Travis Hoium
(TMFFlushDraw)
Nov 16, 2021 at 12:46PM
Author Bio

Key Points​

  • Bitcoin fell below $60,000 briefly early on Tuesday.
  • China's crackdown on cryptocurrencies continues.
  • Rising interest rates and a rising dollar aren't helping cryptocurrency prices today.

What happened​

The explosion of cryptocurrency prices seems to have come to an abrupt halt late on Monday night as a broad crypto sell-off commenced. As of 11 a.m. EST on Tuesday, every major cryptocurrency was down big, with some trading 10% lower in the past 24 hours.
Bitcoin (CRYPTO:BTC) is the biggest and most notable move in the world of cryptocurrency, falling 5.8% in the past 24 hours. After peaking at about $69,000 last week, the value of a Bitcoin fell below $59,000 briefly early Tuesday morning.
Ethereum (CRYPTO:ETH) is down 8% in the past day, falling over 10% briefly this morning. It's down 10.8% in the past week. Solana (CRYPTO:SOL) is down 6% in the past 24 hours and has fallen 9.1% in the past week. Dogecoin (CRYPTO:DOGE), which is the king of meme coins, is down 6.5% in a day and 14.5% in the past week.
Bitcoin representation falling apart.

IMAGE SOURCE: GETTY IMAGES.

So what​

There's no single factor causing cryptocurrencies to fall right now, but there's a convergence of items that are adding together.
The first is that China continues to be intent on eliminating crypto mining from the country. Officials from the National Development and Reform Commission said in a press conference today that they will continue to crack down on mining, which likely means that one of the world's largest economies is rejecting cryptocurrency outright.

We are also seeing the dollar strengthen versus other fiat currencies, and it appears to be strengthening versus cryptocurrencies as well. The dollar is strengthening in part because interest rates are rising, which could help slow inflation. But if investors own Bitcoin or another cryptocurrency as a hedge against inflation, rising rates and a rising dollar could cause them to unwind that trade.
We are also likely seeing a natural pullback in cryptocurrency values, which have run up over the past few weeks. You can see below that, since the start of September, Bitcoin, Ethereum, and Solana have been on fire, while meme coin Dogecoin seems to have lost its luster.
Bitcoin Price Chart
BITCOIN PRICE DATA BY YCHARTS

Now what​

Volatility is commonplace in cryptocurrencies, and for weeks the volatility has worked in investors' favor. Over the past 24 hours, we've simply seen that dynamic flip. There isn't an issue with any specific cryptocurrency, but rather a trade out of crypto altogether.

This is where investors with a long-term view of the cryptocurrency industry should stay focused on why they're bullish on crypto and not just price movements. Nothing about the industry has fundamentally changed today, except prices are down versus the U.S. dollar, which is normal volatility for cryptocurrencies today.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.
Travis Hoium owns shares of Ethereum. The Motley Fool owns shares of and recommends Bitcoin and Ethereum. The Motley Fool has a disclosure policy.

 

#48Fan

Silver Member
Silver Miner
Joined
Mar 14, 2014
Messages
831
Reaction score
820
This guys first rodeo? Today was hardly a crash, lmao. He's gonna get recked.
 

oldgaranddad

Platinum Bling
Platinum Bling
Midas Supporter ++
Joined
Feb 21, 2012
Messages
6,747
Reaction score
14,615
Location
On the top shelf.
Crypto currencies are owned by people who have disposable income invested in them. When things get really tough and all that disposable income dries up those crypto currency owners will be clamoring for the door to cash out. Unfortunately there will be few buyers at the prices they thought they’d get. If they get anything at all. That will be the crash.
 

<SLV>

Platinum Bling
Sr Site Supporter
Platinum Bling
Joined
Apr 1, 2010
Messages
6,499
Reaction score
10,883
As long as the Fed is willing to play "the greater fool," why not?
 

#48Fan

Silver Member
Silver Miner
Joined
Mar 14, 2014
Messages
831
Reaction score
820
Cryptos will crash with everything else, but they'll also be one of the first to recover.
 

Casey Jones

Train left the station...
Gold Chaser
Joined
Apr 4, 2020
Messages
7,458
Reaction score
12,043
Location
Down the road from the Kaczynski ranch
Yeah, BTFD. The timeless advice shills give to gulls in a Bigger Fools' Market.

Doesn't matter...stonks; digital tokens; futures; Beanie Babies. Every price fall is a chance to BUY MOAR.

Until that market runs out of Bigger Fools.
 

Buck

Where'd My Country Go?
Sr Site Supporter
Mother Lode
Joined
Apr 13, 2011
Messages
23,140
Reaction score
29,984
the mantra never changes,
nope, it doesn't
This is where investors with a long-term view of the cryptocurrency industry should stay focused on why they're bullish on crypto and not just price movements. Nothing about the industry has fundamentally changed today, except prices are down versus the U.S. dollar, which is normal volatility for cryptocurrencies today.
This is where investors with a long-term view of the cryptocurrency industry (stock market, metals, utilities...) should stay focused on why they're bullish on crypto (stock market, metals, utilities...) and not just price movements. Nothing about the industry has fundamentally changed today, except prices are down versus the U.S. dollar, which is normal volatility for cryptocurrencies (stock market, metals, utilities...) today.


and i really enjoy this line:
"Nothing about the industry has fundamentally changed today, except prices are down"

nope, the BS never changes...