What exactly was it that caused the 2018 crypto crash?
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Date: February 19th, 2021 3:13 AM Author: lemon boistinker
Why does a market flip from bullish (good news gets bid up, bad news gets ignored) to bearish (the opposite)? The more you reflect on this, the more you see the question is like a Zen koan aimed at showing you the emptiness of nature
The nail in the coffin seemed to be Jay Clayton changing his tune from winks and nods to hostility toward ICOs at the Senate hearing in early 2018. After that it was all over.
(http://www.autoadmit.com/thread.php?thread_id=4769503&forum_id=2#41972029) |
Date: February 19th, 2021 3:26 AM Author: lemon boistinker
Ikkyu, the Zen master, was very clever even as a boy. His teacher had a precious teacup, a rare antique. Ikkyu happened to break this cup and was greatly perplexed. Hearing the footsteps of his teacher, he held the pieces of the cup behind him. When the master appeared, Ikkyu asked: "Why do people have to die?"
"This is natural," explained the older man. "Everything has to die and has just so long to live."
Ikkyu, producing the shattered cup, added: "It was time for your cup to die."
(http://www.autoadmit.com/thread.php?thread_id=4769503&forum_id=2#41972034) |
Date: February 19th, 2021 10:33 PM Author: Lilac Curious Gas Station
this is why its lolzy, no one can explain anything
yea stocks are fraud too but at least u can somewhat justify shit
(http://www.autoadmit.com/thread.php?thread_id=4769503&forum_id=2#41977457) |
Date: February 19th, 2021 10:41 PM Author: honey-headed stimulating office
CME futures (late Dec 2017) marked the BTC top, while the ETH and shitcoin top didn't come until late Jan/Feb 2018.
As soon as BTC loses serious steam, it's only a matter of time before most of crypto goes down with it.
As for why BTC lost steam, it was the CME hype that drove retail into an unsustainable buying frenzy. "This time is different" is a dangerous thing to say, but this time is at least *somewhat* different in that there's clear evidence of institutional buying (Daddy Elon and Saylor Moon leading the way), so it's not just FOMO retail buyers with no investment thesis and paper hands.
The ICO sell pressure didn't help 2018 either. Nor did the April 2018 tax season, which forced at least some selling to satisfy tax obligations incurred from trading the massive 2017 run-up.
Finally, in 2017-18, the USD wasn't quite the shitcoin it's become now. If you recall, the Fed was actually *raising* rates back then (leading to the bottom in both stonks and BTC in Dec. 2018, when they raised rates for the last time). A huge part of BTC's narrative, which did not really take root in 2017, but has now, is "store of value" -- an alternative to a depreciating USD.
(http://www.autoadmit.com/thread.php?thread_id=4769503&forum_id=2#41977502) |
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