Cryptos Are Collapsing Led By Altcoin Bloodbath - Bitcoin down 14% overnight, Bitcoin Cash down 25%

submitted by magnora7 from zerohedge.com

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[–][deleted] 5 insightful - 1 fun5 insightful - 0 fun6 insightful - 1 fun -  (1 child)

Humm.. maybe a good time to buy.

[–]magnora7[S] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Kind of what I'm thinking...

I'm sure most know this site but here's a link anyway: https://coinmarketcap.com/

It's starting to flatten out, but personally I'd give it another day or two to see how far this fall is really going to be. If it's stable for a bit, might be a good time to buy.

Stocks went down today, as did the price of oil (undoing all the gains from the aramco plant explosion in saudi arabia). So it seems like everyone is pivoting to cash.

[–]Mnemonic 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (1 child)

Ah yes, might I suggest a China facilitated 'attack'? Well not a real attack, just them selling their cryptos for dollars?

[–]magnora7[S] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

Yes this is partly the reason they hold so many US dollars too, they can jerk around the value like a leash if they hold enough.

[–][deleted] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (3 children)

The price on BTC is utterly manipulated, much in the same way that gold and silver are being intentionally kept at low values.

[–]magnora7[S] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (2 children)

Every investment vehicle and currency on earth is manipulated, the question is just how much

[–][deleted] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (1 child)

Not true. They are not individually manipulated. The capitals markets, such as the stock market is manipulated, "arranged" even, but it's simply not true that each security is price-manipulated.

Either way, what I am saying is that BTC could easily have been $50,000 by now if not by specific, precise and very intentional intervention to maintain its price around $10k.

And now this. This looks like their final squeeze before letting it fly?

[–]magnora7[S] 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

Who knows. I do think $40k bitcoin by dec/jan is something that might happen. The rise from $3500 to $10k was very rapid, so I think the crypto market is just taking a natural breather, and we'll stabilize at some number around 7k-10k again, and then by dec/jan we'll see $40k BTC, followed by a crash back to 20k or so. That's my guess, anyway.