Crypto Opinions & News Bitcoin Value Drops by 50% since November Peak

[upnorth]

Content source

https://www.bbc.com/news/business-61375152

The value of Bitcoin continued to fall over the weekend as it dropped below $34,000 (£27,630), according to the Coinbase cryptocurrency exchange.

The world's largest cryptocurrency by market value has now fallen by 50% since its peak in November last year. The slide in the value of digital assets comes as stock markets around the world also dropped in recent days. On Monday, some Asian markets headed lower again with Japan's benchmark Nikkei index down by around 2%. Bitcoin accounts for about a third of the cryptocurrency market with a total value of $650bn. Ethereum, the second biggest cryptocurrency in the world, has also fallen in value, down by more than 10% in the last week.

Bitcoin value drops by 50% since November peak

The slide in the value of cryptocurrencies comes as stock markets around the world have also fallen.

www.bbc.com

 

[jogs]

My opinion is that all these cryptoes are just money making machines for some powerful and rich people, common people get duped easily trying to make some quick and easy money.

 

[Jack]

Bitcoin value drops by 50% since November peak

The slide in the value of cryptocurrencies comes as stock markets around the world have also fallen.

www.bbc.com

Most likely will go to at least 29k (or even lower at around 22k ), the war in Ukraine and the inflation data are forcing central banks to take measures that devalue all assets (crypto and stocks).

My opinion is that all these cryptoes are just money making machines for some powerful and rich people, common people get duped easily trying to make some quick and easy money.

Here is what Warren Buffet said about Bitcoin:

“If you said … for a 1% interest in all the farmland in the United States, pay our group $25 billion, I’ll write you a check this afternoon,” Buffett said. ”[For] $25 billion I now own 1% of the farmland. [If] you offer me 1% of all the apartment houses in the country and you want another $25 billion, I’ll write you a check, it’s very simple. Now if you told me you own all of the bitcoin in the world and you offered it to me for $25 I wouldn’t take it because what would I do with it? I’d have to sell it back to you one way or another. It isn’t going to do anything. The apartments are going to produce rent and the farms are going to produce food.”

 

[upnorth]

The price of one Bitcoin briefly fell below $27,000 on Thursday morning, the lowest price for the cryptocurrency since 2020. The world's leading virtual currency bounced back later in the day and now trades at $28,600. But that's still 20 percent below the price one week ago and 57 percent below last November's peak.

Bitcoin's fall is part of a broader cryptocurrency sell-off. Ethereum is currently down 8 percent over the last 24 hours and 28 percent over the last week. Additionally, Cardano (39 percent), Dogecoin (36 percent), and Litecoin (32 percent) have all fallen during the past week. Perhaps most alarming for the cryptocurrency world: The "stablecoin" Tether lost its peg to the US dollar early Thursday, briefly dipping to 96 cents. Tether is now trading at $1 once again.

Bitcoin plunges to lowest price since 2020 amid broader sell-off

The "stablecoin" Tether briefly lost its peg to the dollar on Thursday morning.

arstechnica.com

 

[cruelsister]

This could end in tears for those holding any crypto. Note that in the article Coinbase states that they are in no danger of actually going bankrupt; Lehman Brothers said the exact same thing prior to their bankruptcy and subsequent economic collapse.

Coinbase users could be last to get paid in case of bankruptcy

 

[ItsReallyMe]

LUNA and UST crashed too

 

[Jack]

LUNA and UST crashed too

Some are saying it was an attack - The Crash of LUNA and UST Is Made By Blackrock Capital and Citadel? . A lot of people lost a ton of money. Dedicated thread: Crypto News - Controversial stablecoin UST — which is meant to be pegged to the dollar — plummets below 50 cents

 

[cruelsister]

Seems some folk are a bit disenchanted with the drop of Luna:

Do Kwon’s wife seeks police protection

 

[Fel Grossi]

I am a BTC and ETH holder, today I am at 0x0. Taking the opportunity to buy at the same price as years ago

 

[Octagonalo]

I expect bitcoin to go even lower, I think it will fall to previous ATH($20k)

 

[ItsReallyMe]

I expect bitcoin to go even lower, I think it will fall to previous ATH($20k)

yea i think same, waiting to buy alts at lower prices