bitcoin

In Stunning Crash, Bitcoin Wipes Out December Gains Then Rebounds $2,000 In 7 Minutes

This, folks, is not how "a currency" acts. At least not one issued by a developed country.

This, folks, is not how "a currency" acts. At least not one issued by a developed country.
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4 comments on “In Stunning Crash, Bitcoin Wipes Out December Gains Then Rebounds $2,000 In 7 Minutes

  1. Heisy, this is awesome. A market driven purely by psychology, a case study in behavioral finance.

    I’m amazed it hasn’t dropped lower yet. Only possible explanation is that many people who bought >$10,000 don’t even know they’re getting crushed yet, it’s happening so quickly. I mean, who the hell is buying right now? Going into the end of the tax year with BTC still up a bazillion for the year? This is only the beginning.

    I had thought the fun would begin in earnest at 12:00:01AM ET, but clearly people are getting in their sales early in anticipation of just this crush. I now am willing to bet that the new year brings in a whole new round of buying, at least beginning a few days into the new year.

    Glad some speculators are getting flushed out here. Or maybe I should say “short term” speculators, since this is definitely not investing!

  2. I was just wondering if you thought the fuck you speech that Nikki Haley gave at the U N Assembly yesterday would have any impact on the market?

    • Murphy,
      Thanks for recognizing Haley’s great speech. Surprised you liked it. Good for you. Maybe we can get together and start a 2020 Haley for President PAC? Let me know.
      Ed

  3. Pingback: In Stunning Crash, Bitcoin Wipes Out December Gains Then Rebounds $2,000 In 7 Minutes – The Cryptocurrency News

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