Crypto-Crash Accelerates. Bitcoin Plunges To $8000

in bitcoin •  6 months ago 

Update (1730ET): Bitcoin just puked around $600, back to $8000, erasing the early week's spike gains.

The rest of crypto is following...

With Ethereum underperforming...

No obvious, news-driven, catalyst for the move yet.


Bitcoin spiked above $9,000 this morning for the first time since May 2018, but no sooner had it crossed that Maginot Line that a major sell program swept across the entire crypto space...

Which seemed to trigger an immediate avalanche of sell orders...

Despite today's volatile moves, Bloomberg reports that crypto proponents are taking encouragement from a string of recent headlines showing greater interest in the space from mainstream firms.

“Easier to spend means a greater use case,” said Mati Greenspan, senior market analyst at trading platform eToro in Tel Aviv. Greenspan said the overall customer base could reach “critical mass, and the technology goes from underground to mainstream.”

Bulls are betting the run could continue as more institutions start to build out their own cryptocurrencies or launch projects using the underlying blockchain technology.

“It takes two to tango. The more merchants that accept crypto encourages more people to adopt it and use it,” said David Tawil, president of crypto hedge fund ProChain Capital. “That’s major.”

However, Talil warns:

“This is still the thawing out from the crypto winter that was,” said Tawil. “There still may be another pullback before we get to fundamentals truly taking over and speculators and frauds being expunged.”

But the YTD prints are still impressive...

Tracking 2017's performance most closely for now...

https://www.zerohedge.com/news/2019-05-30/cryptos-crash-after-bitcoin-spikes-above-9000

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To be honest, I don’t want the price to go parabolic just yet; I still want to be able to accumulate at lower prices.

Posted using Partiko iOS

Honestly.. I regret so much nnot keying in around February when the price went so low. Those who did are in great profit now. I just hope other altcoins will follow up on bitcoin cos I just accumulated Tron, Ripple, Veil and Dash. I don't want regrets.

We are at $8300+ now.. this is a terrible sensationalist post.. cant you make something cool and steem related for the front page of trending?

its bad enough you impersonate the real zerohedge

Oh sure, you'll get votes for being a fanboy of Steem here but BTC is the crypto-currency king. It has the greatest network effect as a currency than Steem.

actually just for talking about EOS i could very well get my posts flagged simply for talking about whales like themarkymark admitting in discord that steem whales are powering downa nd joking that 500 SP could make youa whale, and they freaked out banned me from that discord after telling me what i can and cant post, and now theyr calling em aspammer questioning the many steemians who give me auto upvotes which i earned form years of doing mostly thankless work to promote steem across many social media accounts, discords, real life meetups, but none of that maters when a few whales get bored and decide to tear down all the work youve done, and decide that you dont deserve to post as much as you want, earning upvotes from your own followers who have already made a chocie to auto upvote you.... a very common practcie on steem.... in fact the amount of posts i do is something I do for my Insrtagram, so i can get more posts spread around legacy social media, becauyse if i only did afew posts a day my auto upvotyers would be giving me higher upvotes and i would probobly make more if i posted less but i post more so i can get more an dmroe exposure on crypto instagram which works really well.... ALSO steem NEEDS content, and my followers speak for themselves , peopel want my posts they add value....

True decentralization is multiple platforms.

This isn’t the real zerohedge?

Posted using Partiko iOS

hahaha Nope... makes you feel quite cheated after giving him upvotes, right?

Well said

I bet the vocal nocoiners on zerohedge are all calling for new lows below 3,1K.
I'm somewhat of a goldbug myself but it amazes me how people can just be so polarized as to not even put a small portion of their portfolio in crypto after being wrong so many times about ''it's over this time, the bubble has burst for good''.

This is a copy-paste of Tyler Durden's article from the real zerohedge.com website.

Would have loved to hear the authors opinion or something at least.

You got a 34.80% upvote from @joeparys! Thank you for your support of our services. To continue your support, please follow and delegate Steem power to @joeparys for daily steem and steem dollar payouts!

Asset already reached again 8500$!

Posted using Partiko Android

I’m sure this is just another test of the waters. When you think about how the price continues to slowly climb back each time it dips. I’ve learned to have patience with this cryptocurrency while knowing when to hold’em and when to fold’em.

Hope more people use bitcoin so that the market upward

Posted using Partiko Android

This post has received a 37.14 % upvote from @boomerang.

This is really a good time for one to get in the crypto market as the bull run might start soon. Cryptocurrency to invest in this days are hard but I found VEIL a very good coin built on a solid foundation for always on privacy on the blockchain. I found it worth to invest in as this is the best time to grab the opportunity. Always stay safe in the crypto market guys

In a year crypto has given more than 100% return. Few month back Bitcoin was $3000 plus and now $8000 plus. But now it is more stable as companies like At&t are supporting and are going to start accepting bitcoin.

Wish it surpass that

Posted using Partiko Android

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  ·  6 months ago Reveal Comment

wow incredible

Posted using Partiko Android

Congratulations @zer0hedge!
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I think with real security we wont encouter these pump dump. Hence theres is privacy, people will to sell thier funds which increase increase hodling and amke market scarce thereby reducing dump. If yiu have good wallet like veil with proper security. Issues wont arise much.

we are in high volatile territory just by looking at how bitcoin price has been winding up and down

Thanks for the post.

I see every bitcoin plunge as an opportunity to grab more of my favourite alts because ethey always go down up to - 5%. I keep grabbing alts like XRP, XLM and VEIL and I sell when bitcoin goes back up....My own little strategy

If the market does not rally pass 9k in the next week or so, expect a downtrend to sub 7k.

I see every bitcoin plunge as an opportunity to grab more of my favourite alts because ethey always go down up to - 5%. I keep grabbing alts like XRP, XLM and VEIL and I sell when bitcoin goes back up....My own little strategy