Crypto value diving with stock market

[Monkeybiz0985]

https://www.marketwatch.com/Story/total-value-of-all-cryptocurrencies-slips-below-250-billion-as-tepid-rally-fades-2018-04-06?&siteid=yhoof2&yptr=yahoo

 

So I’m not gonna lie. I didn’t understand a lot of the analytical parts of this article, and maybe it’s a little petty and vindictive of me, but I did grasp that bitcoin and other crypto currencies are tanking, and it made me giggle a bit. Then I cried a little bit because my 401K is feeling this slide as well. But I’m grasping firm to the silver lining that maybe crypto will continue to tank and the regular markets will recover and climb again.

 

Quote

The price of the No. 1 digital currency, bitcoinBTCUSD, -2.09%  was down 2.4% Friday, trading at $6,610.67, slightly off its overnight low of $6,513.10. Digital currencies have followed equities, which are on track to post significant losses to end the week, with the Dow DJIA, -2.29%  declining as much as 700 points at its session low

Quote

The slide in bitcoin, which makes up 45.2% of the total market cap of cryptocurrencies, has pushed the overall value of the market below $250 billion, just about $7 billion away from making a 5-month low

Quote

As global equity markets continue to whip around in volatile fashion, strategists continue to debate whether there is any correlation between stocks and virtual currencies, which are meant to be a noncorrelated asset—meaning it doesn’t move in lockstep with any other financial asset.

 

Steve Barrow, currency and fixed-income analyst at Standard Bank, in a Friday note said unconventional monetary policy after the financial crisis that pushed interest rates to record lows have seen the two move more in lockstep.

 

[Crunchy Dragon]

So the entire stock market is diving? That doesn't sound good.

 

I believe that everything else will manage to recover and climb back up, but cryptocurrency has been heading downward for the most part lately even before this, and GPU prices are finally returning to normal. Opened pcpartpicker today and saw GTX 1080s going for 600-650 USD.

[AresKrieger]

7 minutes ago, Crunchy Dragon said:

So the entire stock market is diving? That doesn't sound good.

Eh about haLF the % drop coins did (5% vs 2%), I'm sure facebook's stock isn't helping along with other fiscal news and law changes.

[AshleyAshes]

2 minutes ago, AresKrieger said:

Eh about have the % drop coins did (5% vs 2%), I'm sure facebook's stock isn't helping along with other fiscal news and law changes.

Facebook is a drop in the bucket with the entire Dow Jones falling.  The cause is the Untied States and China now threatening each other and listing off yet-to-be-enacted trade sanctions.  If you want to panic the markets, trade sanctions and tariffs will do it.

[AresKrieger]

5 minutes ago, AshleyAshes said:

snip

Pretty much anything will panic the market if it is uncertain because the market is a house of cards, honestly I don't understand why people invest in non dividend stocks, seems like a needless gamble for layman.

 

Man I'm tired I keep leaving words out

Edited April 6, 2018 by AresKrieger

[Razor Blade]

The stock market will eventually recover it always has...cryptocurrentcy is still very young and very volatile. Just appears to me that the crypto craze inflated values so much that all those people wanting a piece and bought in late are cutting losses and jumping ship. Same with miners...I see mining equipment being sold all over ebay and craigslist now.

[RagnarokDel]

19 minutes ago, Monkeybiz0985 said:

https://www.marketwatch.com/Story/total-value-of-all-cryptocurrencies-slips-below-250-billion-as-tepid-rally-fades-2018-04-06?&siteid=yhoof2&yptr=yahoo

 

So I’m not gonna lie. I didn’t understand a lot of the analytical parts of this article, and maybe it’s a little petty and vindictive of me, but I did grasp that bitcoin and other crypto currencies are tanking, and it made me giggle a bit. Then I cried a little bit because my 401K is feeling this slide as well. But I’m grasping firm to the silver lining that maybe crypto will continue to tank and the regular markets will recover and climb again.

 

 

2% isnt a dive for cryptocurrency, that's 15 minutes.

[Monkeybiz0985]

1 minute ago, RagnarokDel said:

2% isnt a dive for cryptocurrency, that's 15 minutes.

But its more than 2 percent in the long run.

[Groundedbeef]

I put 50 USD in bitcoin a while ago, probably worth about 10 USD at this point, i did not do this as an investment but as a means to be able to pay with bitcoin because the idea and concept as a whole is to me, a great idea. It volatility however has made it completely utterly useless as a form of payment, as the whole idea with a payment is that what its worth today, will be about the same tomorrow. Let that fucker crash and stabilize so we can use it as a currency again.

As for the rest of the stock market, its "trumpism"  IMO. A trade war is never good for the economy, to much uncertainty.

If i am lucky enough though, the Chinese will help de-evaluate the US dollar so i can get my SMA8-X a little cheaper, there is usually a bright side to most things

[Razor Blade]

This is a small snippit of about a year of Bitcoin value. If you bought in early on you'd still be ahead. But if a stock or mutual fund looked like this...IMO I would run the other way.

 

Source: https://charts.bitcoin.com/chart/price

[arnavvr]

Mining will fall, and then it will come back again, this has happened twice already. 

[MilitantCro]

15 minutes ago, Razor02097 said:

This is a small snippit of about a year of Bitcoin value. If you bought in early on you'd still be ahead. But if a stock or mutual fund looked like this...IMO I would run the other way.

 

Source: https://charts.bitcoin.com/chart/price

Here is bitcoin doing that same thing a year earlier, everyone was calling the end of crypto an so on. The price of bitcoin now is still more than 3x as much and 10-15x less then its ATH. So that doesnt mean anyting.

 

 

EDIT: Price of bitcoin is actually 10x higher now and its was 30x higher couple of months ago.

 

[Kamina]

The market has been a correction since Feburary 8th, just around the time they decided to raise the federal funds rate. 

[Misanthrope]

Might have something to do with the first moves of a trade war? Wouldn't know it might get political if we discuss that but alas, politics often influence the market.

[Okjoek]

3 hours ago, AresKrieger said:

Pretty much anything will panic the market if it is uncertain because the market is a house of cards, honestly I don't understand why people invest in non dividend stocks, seems like a needless gamble for layman.

 

Man I'm tired I keep leaving words out

I agree with dividends for the long term. Day trading is stupid and risky.

[RagnarokDel]

19 hours ago, Monkeybiz0985 said:

But its more than 2 percent in the long run.

considering when bitcoin started, it was worth less than a cent, in the long run it's still up a few percentiles.

[asus killer]

i don't think you can relate the stock fall with crypto fall. Stocks are falling because of trump's comercial war with China. Crypto has been in free fall for a long time now.

[Cole5]

36 minutes ago, RagnarokDel said:

considering when bitcoin started, it was worth less than a cent, in the long run it's still up a few percentiles.

But how many people still own the bitcoins they bought or mined at that?

[done12many2]

Bitcoin has been declared dead 273 times to date.   These "cryptos finally dying" threads are the greatest FUD out there.  

 

https://us.blastingnews.com/opinion/2018/01/bitcoin-has-died-235-times-over-the-last-nine-years-002279723.html

 

https://99bitcoins.com/obituary-stats/

 

https://steemit.com/news/@cryptocentral/bitcoin-has-died-130-times

 

https://cointelegraph.com/news/bitcoin-rip-cryptocurrency-dies-200th-time-just-as-price-hits-11k

[done12many2]

 

On 4/6/2018 at 3:50 PM, Monkeybiz0985 said:

https://www.marketwatch.com/Story/total-value-of-all-cryptocurrencies-slips-below-250-billion-as-tepid-rally-fades-2018-04-06?&siteid=yhoof2&yptr=yahoo

 

So I’m not gonna lie. I didn’t understand a lot of the analytical parts of this article, and maybe it’s a little petty and vindictive of me, but I did grasp that bitcoin and other crypto currencies are tanking, and it made me giggle a bit. Then I cried a little bit because my 401K is feeling this slide as well. But I’m grasping firm to the silver lining that maybe crypto will continue to tank and the regular markets will recover and climb again.

 

It's threads like this that make me giggle.  Some people get excited every time (note the 273 time outlined in my last post) they think cryptocurrency is dead just to find out they were completely wrong AGAIN.  

 

Anyways, here's today's news.  No sense in dwelling on yesterday's.   

 

**FYI, the little pink box is the date that you decided to start a thread speculating to the 274th official death of cryptocurrency.  Nicely done.**

 

 

[XenosTech]

4 minutes ago, done12many2 said:

 

 

It's threads like this that make me giggle.  Some people get excited every time (note the 273 time outlined in my last post) they think cryptocurrency is dead just to find out they were completely wrong AGAIN.  

 

Anyways, here's today's news.  No sense in dwelling on yesterday.   

 

**FYI, the little pink box is the date that you decided to start a thread speculating to the 274th official death of cryptocurrency.  Nicely done.**

 

 

*sprays it with a holy fire* It has to be dead now v.v

[Nicnac]

petro is the only coin thats going to be around in 2019

[Sauron]

On 6/4/2018 at 10:06 PM, AresKrieger said:

I don't understand why people invest in non dividend stocks, seems like a needless gamble for layman.

The small fish see it as a way to get rich quickly and with minimal effort, often because they've been convinced by "finance gurus" who are either malicious or straight up idiots with charisma. Big investors see it as a way to get richer, provided they can convince the masses to inflate stock value. It's painfully obvious that the latter have either cashed out by this point, or are investing only now that the prices are low. On the other hand we have companies like Amazon that don't really care about the stock market in this case, but are genuinely invested in what blockchain technology can do as a means to an end for their other endeavors.

 

This is exactly what happened in the 2008 crash, except there wasn't a technology worth investing into back then. Hopefully the consequences of the crypto crash aren't as devastating for the world at large, and I doubt they will be since they haven't been around for nearly as long as the mortgage bubble and banks haven't had time to mess with them.

[Sauron]

23 minutes ago, done12many2 said:

 

 

It's threads like this that make me giggle.  Some people get excited every time (note the 273 time outlined in my last post) they think cryptocurrency is dead just to find out they were completely wrong AGAIN.  

 

Anyways, here's today's news.  No sense in dwelling on yesterday's.   

 

**FYI, the little pink box is the date that you decided to start a thread speculating to the 274th official death of cryptocurrency.  Nicely done.**

 

 

Oh boy, that looks encouraging. What about this?

 

 

It doesn't matter whether BTC or any crypto is "dead" or not, thousands of people lost a ton of money as of right now. With this fluctuation record, a 5% increase in 12 hours is meaningless. It could drop 50% in a week. The core problem is that people treat crypto investment as a gamble and not as a way to support the research. BTC is ancient technology and it should die, or at least stop being looked at in the same way a slot machine would. Every major crypto has followed roughly the same pattern in the last 6 months.

 

And here is when people panic and cash out because they need to pay their bills. In fact, I'd wager many are just waiting for a small price boost before selling everything and tanking the value.

 

'member this?

looks familiar!

[done12many2]

2 minutes ago, Sauron said:

Oh boy, that looks encouraging. What about this?

 

It doesn't matter whether BTC or any crypto is "dead" or not, thousands of people lost a ton of money as of right now. With this fluctuation record, a 5% increase in 12 hours is meaningless. It could drop 50% in a week. The core problem is that people treat crypto investment as a gamble and not as a way to support the research. BTC is ancient technology and it should die, or at least stop being looked at in the same way a slot machine would. Every major crypto has followed roughly the same pattern in the last 6 months.

 

And here is when people panic and cash out because they need to pay their bills. In fact, I'd wager many are just waiting for a small price boost before selling everything and tanking the value.

 

'member this?

 

looks familiar!

 

I think you've just made a poor attempt at validating the topic of this thread (crypto's death) by highlighting a very well-know bubble in BTC history bursting.  A bubble bursting does not mean that something is dead or even on its way to death.  Keep pushing that agenda if you must (it's popular, so I get it), but this time next year guess what people will still be talking about?  "is this the end?" for the 1000th time by then.  

 

Take out the bubble and you'll notice that BTC is on a continued upward trend.  Even the chart you provided show this (best part if you ask me.  )

 

The debates and hopes for the death of anything will just go circles in this community.  Probably best for us to just wait till 2019 and check back in on how well the LTT financial experts are doing in the area of market predictions?

 

Meanwhile, I'll continue to make money as those around me capitulate based on FUD.